2017 Resolutions: Safer Credit Card Practices

Chase Clarke Stewart and Fontana Insurance - Safe Credit Card Practices

Cue the whistles and bells. It’s the New Year! Have you made your resolutions yet? If so (or not) It’s important to know that worldwide fraud losses on credit, debit and prepaid cards in 2014 topped $16 billion, according to the Nilson Report, a trade publication for the global credit-card and mobile-payment industry. Thus, we urge you to put safer credit card use on your list.

Here are a few tips:

  • Try to practice the one card philosophy. This means using one card that isn’t shared between family members.
  • Use your judgment and refrain giving your card to anyone who you feel isn’t trustworthy. Even the slightest amount of doubt is worthy of questioning who you’re talking to. If you’re providing your card information online, make sure the website is secure by having the green lock in the URL.
  • A lot of people simply toss their receipts and statements. Please do NOT do this in 2017, and every year proceeding. Instead of tossing, shred them – even if they don’t list your full account number.
  • Check your statement every month. Instead of looking at the sum and saying, “That looks accurate,” do a full scan on your statement and be aware of anything that looks off. Also, draw a line through any blank spaces in your receipts above the total before you sign, and always review the charges.
  • Finally, always remember if something seems funny, or weird just walk away from the situation. It’s your year this year. Make it safe and make it great.

As always, we’re here to answer any insurance questions you may have. Feel free to reach out to us.

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