7 Warnings St Louis Mortgage Consumers Need To Know To Avoid Credit And Debit Card Theft


 

St Louis mortgage consumers are constantly bombarded with safety tips on how to protect the use of our credit cards and now we use debit cards when we make transactions in person, on the phone or the web.

However, one may be caught totally off guard to know that identity theft can happen to you even when you still hold your credit card or debt card in your hand.

Most people have never heard of the term "skimming." This new wave of crime utilizes modern technological advances where a thief can much more easily steal your credit card information.

St Louis finance experts are claiming that credit and debt card skimming is now becoming an epidemic while becoming more newsworthy due to recent skimming incidents similar to those at Bank of America.

Retails stores that take credit and debit cards such as cafes, bars, gas stations and ATMs are becoming more susceptible targets for skimming.

All a thief has to do is get hold of your credit or debt card, read it through a small hand held electronic device and in seconds has all your financial details that is stored on your card.

Criminals are also targeting ATMs now. By using cameras or monitoring you as you key in your 4 digit pin code, these heartless white collar thieves can now drain your bank.

So, here are 7 tips to help keep your financial information private and safe:

1. Do not forget to always keep your bank or credit card firm updated on your personal information as you will need this to claim fraudulent charges.

2. While you are thinking about it, go and write down all customer service telephone numbers found on the rear of your cards and keep this list in a secured place. Oh, and look at your monthly bank statement very carefully.

3. If an ATM is in bad shape or ruined, walk, better yet run away! A sign of a dirty machine may mean that it is not working or may be a criminal clone wanting to steal your information.

4. Another tip that most consumers forget about is telling your credit card company when you go on travel and the destination of your travels. They can decline any suspicious charges much faster when they have this information.

5. If you see that the front of an ATM machine looks damaged or loose, this may be an indication that someone has attached a skimming device.

6. If there are suspicious individuals casing the ATM, they perhaps want your cash or are wanting to observe you type your PIN number. If you ever lose your card in a machine, just leave. It may be best to politely turn down help from someone who may have been watching you. You can always call your bank and obtain a new card.

7. Cover the pin pad with your other hand when putting in your PIN number.

Another good piece of instruction that was mentioned above is to confirm your balance on a periodic basis when your statement arrives.

For those who use their debit cards more often should also know that the laws safeguarding credit card holders do not apply to debit card purchases. So, you are more secure using a credit card.

St Louis finance analysts suggest always notify your bank or credit card company within two days of misplacing your cards. This may help restrict your losses to $50. The worst thing you can do is delay this needed phone call. You may end up suffering greater financial losses by waiting.

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