November 12,2008
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Credit Card Tips: 201, Pt.1
– More advanced tips: Safety, safety, safety.Taking credit card safety a step further, let's take a closer look at some of the ‘gotcha's. Everything works well if we're lucky. But that naiveté could lend to more trouble than it's worth. A few safeguards in credit card care and handling could pay off, if only from considering the troubles that might have been. Credit card fraud and identity theft have recently become one of the largest businesses in the industry. So here are some tips on how better to protect us against that:
Tip No. 1: Sign the card immediately.
Always sign the back of a credit card as soon as the card is activated. It's way too easy to forget after afterward. Definitely not worth the risk. When activating a credit card, note the phone number you call from, because it may well be the ID you need for any future dealings with the card issuer.
Tip No. 2: Specify ‘(Ask for picture ID)'.
Specify on the signature strip for merchants to require ID before purchases. This act has been listed as the number one deterrent to credit card fraud. The reason is because it's so easy to do and is so effective.
Tip No. 3: Check receipt at counter.
There are at least two good reasons for doing this. One is to ensure that you've been charged correctly. Often times a holder will make some purchases on a card and then pay for additional purchases with cash. With no witnesses, a dishonest cashier can keep ringing up charges on the card and pocket the cash.
Another important reason is to ensure your receipt doesn't print your credit card number in full, for everyone else to see. New regulations prohibit merchants from doing this anymore, but not long ago the practice was allowed. Some merchants have been lax about upgrading their systems and they still print customer credit card numbers on both the customer copy and the merchant's copy of receipts.