Dumb Mistakes Smart People Make When Using Credit Cards
Dumb Mistake #1 - Not signing the back of the card
A myth that has been passed around is that not signing the back of the card requires the cashier to see photo verification. That part isn't the myth. The myth is that this makes you more secure.
The truth is not signing the back of the card makes you a better victim if your card is found or stolen by a thief. Why? Because all they have to do is sign the back of your card. The signature will match every time so they will probably purchase more items and will be higher ticket items.
The solution - instead of not signing the back of you card write "See I.D." or "See Photo Identification". Make sure to write it with solid thick letters so they can't be wiped off or written over. When a thief sees this it just might be enough to deter any transactions with your stolen card.
Dumb Mistake #2 - Getting reward points in the front door and paying interest out the back
Every good magician knows the power of distraction. While one hand is busy creating the trick the other is hiding the truth. The end result is an audience that will pay money for the privilege of getting tricked.
The credit card companies use the same distraction to draw more interest from their customer base. They offer attractive rewards as you use your card more. They hope you will justify more purchases because of the rewards. As you do this they charge you more interest. There are some people that are helpless against the opportunity to "get something for nothing". The truth is, there's no such thing as a free lunch and getting reward points while carrying a balance doesn't leave you with a net gain.
Dumb Mistake #3 - Not keeping personal information private - even from people you know and trust.
Did you know that the majority of credit theft is done by someone the victim knows personally. That means your family, friends, housekeeper, or visitors to your home or office are the prime suspects when your identity is stolen. The Nigerian scam artist that is trying to get your personal information isn't as big a threat as your own family (in most cases).
With that in mind, take these steps to prevent any temptations. Shred all offers that fill up your junk mail; better yet sign up for a "do not mail" list. Keep all your personal documents and information secure and under lock and key if possible. Cancel all credit cards you don't use regularly. If you've ever been the victim of identity theft or credit card theft you know that an ounce of prevention is worth a pound of cure. Keep these things in mind as you use your credit cards and lets hope it helps you avoid making any mistakes.
Related Tags: visa, credit, cards, poor, fraud, mistakes, identity, smart, prevention, card, howto, theft, build, wise
Matthew Mitchell is the owner of Debt Consolidation Map.com and also specializes in Debt consolidation Loans and Non-Profit Debt Consolidation
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