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The Basics of Credit Card Protection

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by: No more debt !
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Word Count: 550
Date: Sun, 24 Mar 2013 Time: 8:59 PM
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Personal financial management has become a challenge for many of us today, considering the many complex and fluctuating factors of the economy. Inflation rates become unpredictable, and the layoff rates in the corporate sector continue to become more bothersome. Dealing with finances can really be a challenging feat for an average person. The credit card has become a popular mode of payment and identification; so popular that it has become more of an essential than an option in the modern world.

Considering the number of people who continue to rely on these credit cards, the risks of electronic burglary in the form of credit scams rise with such numbers. A lot has been said about stolen identities associated with lost credit cards or theft of credit data. This poses a question whether people actually understand the risk they face while owning a credit card. The following will enumerate a number of precautions credit card holders must remember.

How to protect your credit card

When you got your first credit card, you have probably heard a lot of precautionary measures from family, friends and your financial advisers. A lot can be said about what and what not to do with one's credit card. Still, do people really understand what these precautions are for? Do you understand exactly why you should sign at the back of a credit card?

For one thing, signing at the back of your credit card makes your identity official, and seals you as the owner of that card. That signature has to be the same in every voucher or form you sign in the future for payments made using that credit card number. Understanding the important of precautionary measures in using your credit card comes with the understanding that identity theft and credit scams can happen to anyone.

Though the initial reaction of many is to address the credit card theft problem through its perpetrators, experts explain that it is more challenging to seize data when it is "on the move," meaning when it has been stolen. For consumers, doing some precautionary measures is the best way to protect credit card information.

The LA Police Department enumerates a couple of helpful ways a person can practice credit protection on his or her own:

  • Ask for identification with every purchase. An example of a valid identification includes a valid drivers license or a state ID card.
  • Always remember that "hot sheets" are important and that it is an important precaution to get called for authorization. It may help to ask you credit card company to always call you for verification.
  • Always destroy carbon copies of purchase invoice so that credit numbers and names do not fall into the wrong hands.

These are only a few tips. The key is to consider your credit card as a vital piece of information, one that you do not want to loosely divulge. You may also want to request for a regular credit report from your own credit company, in order to make sure you are maintaining a good credit report score.

About the Author

Amy is an active blogger who is fond of sharing interesting finance related articles to encourage people to manage and protect their finances. She also covers topics on online credit card fraud prevention and credit card fraud detection that can help people prevent credit theft and scams.


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