Best Secured Credit Card Deals

Each year we are alerted by our banks and financial experts as to how to protect ourselves from identity theft especially when we use our credit and debit cards at retail stores, on the Internet and by phone.

But consumers may be totally surprised how easily one can become a victim of identity theft and how often it occurs even if you still have the card physically in your possession.

There is a new kind of crime that is becoming more and more frequent called “skimming.” Criminals are now taking full advantage of technology and can steal your credit card information at a moments notice.

Just recently reported by the St Louis Refinancing Group news team, skimming has received more news attention than ever due to banking incidents happening at Bank of America banks.

Criminals often use skimming tactics at retail establishments that would include gas stations, bars, restaurants and ATMs where credit and debit processing takes place.

Let’s take for example an employee who decides to commit theft. They simply steal a customer’s credit card information off the magnetic strip on the back doing so by means of scanning with a hand held electronic device.

They can sell your information to professional card counterfeiters who will resell them on the black market or that person could simply use your buying power for their own shopping pleasures.

Be extra careful when you use an ATM machine next time. These new-age thieves can now get your card information by utilizing cameras or by watching you when you enter your PIN number at the machine.

What is sad is that most cardholders never know that the fraud has taken place nor any idea something is wrong until the criminal activity is spotted on their bank statement. And that is if they look at their statement very closely.

So, here are 10 tips to help keep your financial information private and safe:

1. Always keep your contact information up-to-date with your bank or credit card company. The bank needs this information if you ever need to dispute charges or to inform them of any fraudulent activity.

2. Take the time and write down all customer service numbers on the back of your cards so they are readily available if your cards are lost or stolen.

3. Buyer Beware: Stay away from ATMs that appear dirty or in disrepair. They may not work properly or may be fake machines put their to capture card credit information.

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

5. When approaching an ATM, any sign that says you should ‘enter PIN number twice to complete transaction,’ is a warning to leave immediately.

6. Again, make absolute sure you sign up for any banking alerts offered.

7. A skimming device may have been installed on an ATM that appears to be damaged, toyed with mechanically or has any loose fitting parts.

8. If any one that looks suspicious is close by to an ATM, use common sense and leave. Criminals stake out ATMs to possible steal your cash or try to watch you type in your PIN number. If someone offers to assist you when your card gets stuck in the machine stay alert and walk away if necessary. You can always call your bank and report the incident.

9. If you want to be extra sure no one is watching you type in your PIN number or capturing it on camera, cover the pin pad with your other hand thus blinding the onlooker.

10. Skimming can occur at any place accepting credit or debit cards. But more often than not, it occurs at retail locations such as a restaurant. It may be impossible to always do, but try to keep your card in sight when they do their processing. If they have to go to another counter or location of the store, follow them. And if you feel uncomfortable pay with cash or leave.

Another good piece of advice that was mentioned above is to check your balance on a regular basis when your statement arrives.

Consumers should also be aware that federal laws do not protect debit cards to the same degree as credit cards when it comes to fraud. So, use your credit card when possible or get a secured one to avoid headaches.

If you notice that your cards are missing, immediately call your bank within two days so that your loss amount is limited to just $50. If you procrastinate, you may end costing yourself and your financial loss may be greater than necessary.

Looking to find the best deal on a St Louis refinancing loan, then visit www.StLouisRefinancingGroup.com to find the best St Louis finance advice on a St Louis mortgage for you and your family. Get your questions answered by calling the St Louis loan experts at 877-334-0210 or 314-334-0210.