December 17, 2009

• Discover Offers Last Minute Advice, Pt.2
    Take responsibility in managing cards.

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  Consumers should take responsibility in managing debit and credit card spending and account management. Following these simple holiday shopping reminders will assist you in keeping your finances in order and secure.

  • Stay current with your account - check your credit report regularly for fraudulent activity or suspicious accounts.

  • Protect your PIN and CID code - do not carry PIN number, passwords, or social security numbers around. Memorize them and change them periodically. Do not give anyone your PIN and passwords. Protect your CID code (the three-digit code on the back of your credit card) from others.

  • Report lost or stolen debit and credit cards immediately – If your card is lost, misplaced, or stolen, you should contact your lender immediately. You have a limited amount of time to report the loss before being held accountable for all charges. Debit cards are particularly vulnerable to this because they typically only have a couple of days grace period.

  • Destroy any unused or expired debit and credit cards.

  • Sign all card upon receipt.

  • Notify your financial institution or credit card company immediately of address changes.

  • Do Not use your PIN number as a password.

  • Never give out any personal information, credit card information, or PIN number over the phone. Banks and card companies never ask for this type of information over the phone.

  • Do not respond to any unsolicited email asking for information. Emails are one of the most common methods of credit card fraud. Again, banks and credit card companies never ask for this information in an email. Also beware of emails telling you to login because there is a suspected problem. These are scams and fake web sites to resemble your lenders site that allow hackers to capture your login and password information.

  • When shopping online always check for the secure transaction symbol at the lower right hand corner of your window. Also check to make sure the web address begins with “https” because fake sites often eliminate the “s”. Close your browser immediately after completing any transaction.

  The worse mistake a debit or credit card customer can make is to become complacent about safeguarding personal and financial information. Don’t get caught with your guard down.

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