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.
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