The holiday shopping season is approaching fast. Planning to purchase the right gift is at the top of a shoppers mind. What may not be at the top of the list for a shopper is identity theft and fraud prevention.
Identity theft and fraud prevention measures should be in place with every swipe of a credit/debit card. The issue surrounding identity theft and fraud prevention is consumers do not know all of the tips and tricks in securing their finances. Provided will be tips to prevent identity theft and fraud prevention measures.
Tip #1 – Credit Card Alternative
The common question during the holidays is whether or not to carry large sums of money while shopping or simply swipe purchases. Consumers should use a combination of both to prevent identity theft and ensure fraud prevention measures are in place. The key to success is to use an alternative to a personal credit card.
At any local retailer, consumers can purchase a prepaid credit card. The benefit of a prepaid credit card is the information isn’t linked to a major account, just the initial sum.
Tip #2 – Travelers Checks
Most consumers think of cash and credit for all of their holiday purchases. An alternative which will prevent identity theft and assist in fraud prevention measures is Traveler’s Checks. The value associated with Traveler’s Checks is the cost, free.
The second reward is financial institutions will replace a Traveler’s Check if they are lost or stolen. One key to remember is to remember to save receipts. Even though Traveler’s Checks have become almost obsolete, they are a viable identity theft and fraud prevention measure.
Tip #3 – Receipt Placement
The third tip in identity theft and fraud prevention is placement of receipts after purchase. During holiday shopping trips, chances are consumers will frequent multiple stores. The more stores, the more receipts generated.
Even though receipts usually cut off credit card numbers, the customer’s name is still printed. With information readily available on the internet, all a thief has to do is search and find all the information needed to commit a crime.
Once purchases are made, place the receipt in your pocket. This will eliminate the chances of a receipt being lost or stolen. In regard to fraud prevention, lost receipts can be used to make fraudulent returns linked to the original purchaser.
During the holidays thieves will be working overtime to gain access to personal information. Utilize these identity theft and fraud prevention measures to protect yourself and your money.