Comments on: Bryan Blathers: Check Your Credit Card Statement Now!

By: Bryan

Bryan — Sun, 22 Oct 2017 00:05:46 +0000

In reply to Lynda. Lynda - I do the exact same thing! It ensures I can always pay my bill in full, avoiding any interest or fees. Plus, I make sure my credit cards are earning rewards. If you’re not paying your bill in full every month, any rewards earned are really not rewards at all. More than likely, you’re paying more in interest than what the rewards are worth. Way to go, Lynda! -BKC

By: Lynda

Lynda — Sat, 21 Oct 2017 19:07:44 +0000

My husband and I write every credit card transaction in our checkbook immediately after purchases and subtract the amount just as if it were any withdrawal from our checking account. (We use a red pen for credit card purchases.) Our check register is kept up to date in Quicken, so we can tell immediately how much money is owed at any time on credit cards. The best benefit is that when the credit card statement comes due, the money is already subtracted from checking! Then all I have to do is send the payment via Bill Pay. I also check on-line statements every day for fraudulent charges so they can be stopped immediately.

By: Lynn

Lynn — Sat, 21 Oct 2017 17:42:06 +0000

Ditto advice from Jeremy and Steve. DON’T use debit cards. They do NOT have the guaranteed protections Federally that credit cards do. Now, most banks will try to cover the losses, BUT, they are in no way REQUIRED to! Thus, your struggle to get your money back. Stay with the credit cards. Until equal protections are in place Federally and State-wise, don’t use debit cards.
And ALWAYS check your statements (bank, cards, etc.) with a fine toothed comb. Small charges are the norm now for theft, either just ongoing small, inconspicuous charges OR small charges to check if you notice, THEN the big hits!
One way to lower point of sale theft of card info somewhat – buy gift cards and use THEM. Every time Kings offers 4X points, I try to buy not only cards for gifts, but for stores I shop regularly. THAT way, when a massive credit card breach happens at the store where you use the gift card, you haven’t contributed your credit card info to the store’s computer data and it won’t be compromised. TRUE, if Kings suffers a breach, my credit card will be there, BUT, it reduces the number of places all my card info resides, thus reducing my risk. And I can check for troubles at just one place (Kings) more easily than checking every store.
Besides, I get a LOT more fuel points at the same time!
There is no way these days to be completely covered, no matter how many freezes or alerts you set in place. The ONLY way to protect yourself is to constantly keep eagle-eyed track of all your finances (and medical records!) and catch trouble as fast as possible. Credit/ identity theft is impossible to truly prevent these days – you can only minimalize the damage and stop it as quickly as possible. Sad truth of today’s reality. Even a “cash-only” life is not total protection. Your social security number is still easily compromised (it’s everywhere and institutions are NOT effectively protecting it) and your identity is thus at risk. Vigilance is a must.
Not fair, but alas, true.

By: Deb

Deb — Sat, 21 Oct 2017 15:16:09 +0000

Sorry you ran into issues, appreciate the warning for everyone!! I never use debit card unless I withdraw cash at an ATM. I always use credit card even for small purchases–and budget to pay off at end of month so never any charges. If I make a large purchase (furniture, kitchen appliance, etc.) I’ll charge, and may need to pay off in two months time, but never carry balance longer if possible. No debit cards for reasons cited above by others!

By: Neva

Neva — Sat, 21 Oct 2017 14:09:02 +0000

Cerainly use credit cards instead of debit cards. But also save your receipts and balance your monthly statement. I have found a fraud and errors on my credit card many times by this method. Don’t be too lazy to check your receipts against the statement. You’re not regret the small amount of time this takes.

By: Steve

Steve — Sat, 21 Oct 2017 13:57:51 +0000

One protection is using credit cards (responsibly) rather than debit: rather than fighting for your money back and needing to get by without it in the meantime, disputing credit transactions freezes responsibility.

> I can only assume my account was accessed through an online purchase or somehow taken when I swiped it at the store

Some of the biggest issues over the last 5 years have been breached point-of-sale systems. That is, customers buying in-store at Target or Home Depot swipe their cards at the register, and one of the computers in the network that makes the magic happen was running malware, stealing MILLIONS of card numbers.

By: Jeremy

Jeremy — Sat, 21 Oct 2017 13:45:35 +0000

Stop using your debit card! Everyone! You are putting your money at risk. Always use a credit card even for small purchases. That way you are using the card issuers money. Yes, I know about debit protections but think about it. Remove your risk place it on them. In a dispute they have no incentive to help you recover your money. Thier money … you watch how fast and hard they work to get it back. Debit cards are a scam to put the risk back on the consumer.