Safeguarding Your Credit Card

By Jane Krueger

10 consumer responsibilities for safeguarding your credit card.

  1. Monitor your bank and credit card statements to make sure that there aren't any false charges like a purchases from halfway across the world.

  2. Monitor your credit report and look for abnormal activity

  3. Shred documents with your information on it before throwing it away or recycling it.

  4. Place fraud alerts on your accounts.

    1. forces any bank or credit agency to talk to you before approving credit requests in your name.

    2. will not totally stop a theft but it can slow him or her down

  5. Place credit freezes on your account

    1. far more effective

    2. prevents any company from accessing your credit unless you're already do business with them

    3. seals your records against any new creditors

  6. When you get your card the first thing you need to do is sign the back panel

  7. Never keep your PIN code in the same place as your card and keep your account number private

    1. Thieves don't need your card to get into your account, just the number.

  8. When shopping online think about credit card protection.

    1. Do not share personal info unless u absolutely have to and you know how it will be used

    2. Save receipts confirmation numbers and emails.

  9. Keep all passwords secret

  10. Report lost cards and suspected fraud right away.

Why is it important to know?

Ways to protect your credit cards and money are important so you can prevent anything from happening to you like credit card fraud or Identity theft.

How does it relate to what we are learning about credit?

We are learning about how to have good credit and for that you must have credit cards and when you have credit cards you must protect them.