Six Easy Ways to Protect Your Credit Cards - Money Tip Tuesday

As credit card fraud continues to impact people year over year, it’s important to keep your cards and information as secure as possible.  

Fortunately, there are some very simple and easy things you can do to keep your cards, physically and virtually, out of thieves’ hands. 

Links: 

• Learn more about Triangle credit cards and their benefits
• Learn more about Google virtual cards through Google Pay
• Learn more about Triangle's Better Checking account and it's identity protection benefits. Already registered? Log into idprotectme247.com to access your benefits and register cards.
• Follow our Facebook, Instagram and Twitter pages!
• Learn more about Triangle Credit Union

Transcript:

Welcome to Money Tip Tuesday from the Making Money Personal podcast.  

Of the types of identity theft out there, credit card fraud comes in at #2 on the list of most common types of identity theft just below government docs and benefits fraud (according to a 2021 FTC survey).  

Card fraud can happen to anyone using their cards physically in-store or virtually online.  

May steps have been taken to make physical card transactions more secure like EMV chips and contactless card functions which shelter your transaction behind layers of encryption and security.  

But, even with those new technologies, thieves still find ways to try to steal your info. Things like card skimmers at gas stations or RFID scanners can still be used by thieves when you’re out in public. 

Using your card online can be even trickier, because you could accidentally use your card on a fake website, or your info may get picked up in a data breach and sold on the dark net for someone else to use.  

Luckily, the growing awareness of credit card theft has led to many actions and tools you can use to keep your cards as secure as possible.   

Here are 6 things you can do to heighten card security. 

1. Number 1: Use an RFID protection sleeve or wallet. Cards can still get skimmed if you’re in public and someone gets close enough to scan it with a certain device. Protecting your card in an RFID protection sleeve or wallet will shield your card if you’re ever in crowded places where someone could try to steal your information.  
   
   
2. Enable card controls and turn off unused or rarely used cards.  The ability to turn your card on and off can make a world of a difference when you think your card number may have been stolen. Check your card apps or websites to see if you have card controls and turn off any unused or rarely used cards. This will ensure that even if someone gets ahold of it, your card cannot be used.  
   
   
3. Add your card to your phone’s mobile wallet and leave your physical card at home. Paying with your phone is super convenient and really secure. If you want to keep your cards safe from theft, add them to your phone and pay with the added convenience as well as security. Try not to lose your phone, but even if you do, your digital wallet is protected by biometric or PIN security making it hard for criminals to get access. 
   
   
4. Make sure you have notifications enabled with your card. This means you’ll receive a text message every time your card is charged with information on where it’s been used and the dollar amount charged. It’s a great feature to have because if you get an alarming notification of a charge you didn’t make you can act immediately. 
   
   
5. Do not save your credit card information in online checkouts. Use a payment processor like PayPal or Venmo or use a virtual card. If available, you can enable them through your card provider. Companies like Capital One and even Google can give you an option to enable a virtual card when you checkout. 

• Register your cards with an identity protection service like ID Protect. If you have a Better Checking account you’re halfway there and have access to this valuable tool. If you’re registered with IDProtect simply log into idprotectme247.com and set up card registration within your profile. If your identity ever gets compromised, you’ll need to make one phone call with IDProtect who will help close all your cards and reissue new ones in a snap. Saving you time and anxiety. Contact Triangle Credit Union if you have any questions about getting set up. 

When it comes to your credit cards, you want to make sure they are as protected as they can be. With all the ways to lock, store and use your cards, you can now take more steps to safeguard your cards from theft.  

If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org.  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  

Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.  

Have a great day!