Safeguarding Your Financial Information and Identity
Properly Dispose of old Credit Cards
When an old credit card expires you throw it away, right? Don't stop there: Dispose of it properly. Even though the card itself may show an expiration date, identity thieves could still at the very least determine your account number. To dispose of old cards properly:
- Cut the card into four or more pieces, and make sure you cut through your signature and the magnetic strip on the back.
- Run a magnet over the magnetic strip, and if the card contains a chip, use scissors or a hammer to destroy it.
- Throw the pieces away in separate trash bags.
Safe is always better than sorry, especially since experts estimate that the average victim of identity fraud faces a loss of approximately $5,000.