Get these important tips to protect yourself
Money Girl
258 MG How to Stay Safe from Debit and Credit Card Fraud
Hey, Fidelity, what's it cost to invest with the Fidelity app? Start with as little as $1 with no account fees or trade commissions on US stocks and ETFs. Hm, that's music to my ears. I can only talk. [MUSIC] Investing involved risk, including risk of loss, zero account fees apply to retail brokerage accounts only. Sell or assessment fee not included, a limited number of ETFs are subject to a transaction-based service fee of $100. See full list at Fidelity.com/commissions. Fidelity brokerage services LLC, member NYSE SIPC. [MUSIC] Earning your degree online doesn't mean you have to go about it alone. At Capelli University, we're here to support you when you're ready. From enrollment counselors who get to know you and your goals, to academic coaches who can help you form a plan to stay on track. We care about your success and are dedicated to helping you pursue your goals. Going back to school is a big step, but having support at every step of your academic journey can make a big difference. Imagine your future differently at Capella.edu. [MUSIC] Hi friends, thanks for downloading the Money Girl podcast. [MUSIC] I'm Laura Adams, the author of Money Girl's Smart Moves to Grow Rich. So, you're in a store, you see that thing that you've been eyeing for a while, and today it's finally on sale. You reach for your credit card to make the purchase, but it isn't in the usual spot. As your heart starts to race, you frantically check a few different places, and that's when you realize your credit card is gone. If you're lucky, you might remember where you left the card and get it back without a problem. But if your credit or debit card was stolen, or if you have the card but someone used your number to go on a spending spree, I'll tell you exactly how to protect yourself and your credit. First, let's cover how thieves typically get your confidential information in the first place. Here are six ways crooks can lift your debit or credit card. Number one, stealing. A thief can take your wallet, purse, credit card, or personal documents the old-fashioned way by snatching them when you're not looking. Number two, dumpster diving. This dirty pastime involves rummaging through trash bins, looking for bills, statements, or other documents with confidential information that you neglected to turn into confetti. Number three, skimming. A skimmer is an electronic storage device that steals your card number. It can be installed over the swipe slot on a self-service machine, like a gas pump or an ATM. Dishonice clerks can also use a skimmer while they process your card in a store or restaurant. Number four, database access. Corrupt employees can steal credit card numbers from their company database or sell them to other thieves. Number five, phishing. This is an email scam where a crook pretends to be a financial institution, government agency, or a well-known company and tries to dupe you into giving up your personal information. And six, changing your address. A thief can divert your mail, so it goes to another location where they take your account numbers and other confidential data. Once a thief has your credit card information, they can change the billing address on the account, hoping it'll take you a while to catch on to their shenanigans. It's not always possible to prevent debit and credit card fraud. However, your goal should be to become a difficult target so a thief will just move on. Here are tips to minimize the possibility of becoming a victim. Here are 12 tips to stay safe. Never carry cards with you that you don't need, and if possible, carry them separately from your wallet. Don't keep the pin for your debit card with the card or anywhere in your wallet. Never loan your debit or credit card to anyone. Never email your card number to someone or give it in response to an email solicitation. Keep an eye on your card during purchase transactions and get it back as quickly as possible. Never sign a blank, credit, or debit charge slip. Monitor your credit card and bank accounts online at least once a week to watch for unauthorized charges. Save your receipts in a safe place and then match them to your credit card and bank statements on a regular basis. Tread all financial statements and receipts before throwing them away, even if they only contain the last few digits of your account number. Opt for electronic bills and statements so you reduce the amount of paper mail you receive that contains confidential information. When you're shopping online, make sure that the URL of the webpage where you enter your card number begins with HTTPS instead of HTTP, which indicates that it's secure. Also, never enter any confidential information while you're using an open, unsecured Wi-Fi connection. When making a large purchase or buying over the phone or online, always use a credit card instead of a debit card to limit your liability. I'll tell you more about this in just a moment. I love learning and anything that makes learning easier. If you're a parent and your child needs some homework help, then Ixcel is a right for your family. Ixcel is an online learning program for kids covering math, language arts, science, and social studies. Ixcel has interactive practice problems for topics from pre-K to 12th grade and everything is organized by grade and subject. As kids practice, they get positive feedback, awards, and explanations for wrong answers. Ixcel figures out what your kids need more help with and recommends more topics to practice. Their videos, lessons, sample problems, and learning games too. One subscription to Ixcel gets you all subjects and all grade levels. Membership started just $9.95 a month. It's no wonder Ixcel is used in 95 of the top 100 school districts. I think the positive feedback that Ixcel gives is really crucial when it comes to learning. So make an impact on your child's learning. Get Ixcel now and money girl listeners can get an exclusive 20% off Ixcel membership when they sign up today at Ixcel.com/moneygirl. Visit Ixcel.com/moneygirl to get the most effective learning program out there at the best price. The $5 meal deal at McDonald's means you get to pick between them a double or a chicken. Then get a small fry, a small drink, and a four piece McNuggets. That's a lot of McDonald's for not a lot of money. Get the $5 meal deal today. Prices and participation may vary for a limited time only. Earning your degree online doesn't mean you have to go about it alone. At Capelli University, we're here to support you when you're ready. From enrollment counselors who get to know you and your goals, to academic coaches who can help you form a plan to stay on track. We care about your success and are dedicated to helping you pursue your goals. Going back to school is a big step, but having support at every step of your academic journey can make a big difference. Imagine your future differently at Capella.edu. If you lose a debit or credit card or discover unauthorized charges on your account, immediately call the card issuer and report it. Your potential liability for fraudulent charges is different for debit and credit cards. For a credit card, once you report the loss, you can't be held responsible for charges you didn't make. Here's the great thing about credit cards. If you report a card theft before any fraud occurs, your liability is zero. And if you report it after a thief made charges, your maximum liability is only $50 per card. For a debit card, your liability can be much higher, and it depends on when you report the loss. If you catch it early and report a stolen debit card before any fraud occurs, you have zero liability. However, if you don't catch debit card fraud early, here's how much you could have to pay. If you notify your bank within two business days, your maximum liability is $50. If you notify your bank within 60 days, after your account statement was sent to you, your maximum liability is $500. And if you notify your bank more than 60 days after your statement was sent to you, your liability is unlimited. In other words, if it takes you more than two months to view your account statement and notice unauthorized charges, you could lose every penny in the account linked to the debit card, plus be responsible for overdraft fees and penalties. So never forget that using a debit card can be much riskier than a credit card when it comes to your financial responsibility for fraud. The best way to catch a thief quickly and limit the damage caused by fraud is to understand how thieves get hold of your personal information and to monitor the transactions in your financial accounts on a regular basis. To prevent identity theft, which is when a thief opens a new credit card or loan in your name, you have to monitor your credit report on a regular basis. I created a step-by-step video tutorial that shows you how in my free credit score survival kit, you'll also get three top strategies to build excellent credit and find out where to get your credit scores absolutely free with no strings attached. Download the credit score survival kit for a limited time when you visit smartmoves2growrich.com. Again, that's the credit score survival kit at smartmoves2growrich.com. For more money tips, be sure to sign up for the MoneyGirl newsletter, join the MoneyGirl Facebook page, and follow on Twitter where my user name is @LaraAdams, L-A-U-R-A-A-D-A-M-S with NoSpace. For all my contact information, just visit the MoneyGirl page at quickanddirtytips.com. I'm glad you're listening to change. That's all for now. Courtesy of MoneyGirl, your guide to a richer life. 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