Years ago people had A credit card... one, uno.  Rarely did people carry around two, four, six, ten, twenty plus cards in their wallet or purse.  Today, people do carry that many cards and don’t even realize it.  Take a look at all those card slots in your wallet. They’re full aren’t they?  Debit cards, credit cards, discount cards, membership cards, rewards cards, gift cards, and access cards.  I’m sure there are others, but that’s just a quick look through my Card Cubby.  Yes, I said ‘Card Cubby’. 

I have an official organizer for all of my cards and oh yes, they are alphabetized.  It’s a great invention and I receive complements all the time on what a great idea it is.  It’s an easy way to track all of my cards and a quick way to find out if I have a gift card to a store or find my discount card in line at the supermarket.  (Everyone behind me in line probably doesn't want to wait for me to dig through my Mary Poppins purse to find that little 1x2 inch card so I can save a few dollars.) 

Reviewing the transaction activity on your cards is just as important as knowing where your cards are.  Did you know that fraudsters can steal your card number and use it without actually having the card?  Logging into your online banking and credit card websites regularly, or at a minimum, reviewing your monthly statements can save you hundreds, if not thousands, of dollars in fraudulent charges. 

If you carry a zero balance on your credit cards, it’s still important to see if there has been any activity.  If you don’t have a balance that means there is more spending money available for the fraudsters.  (If you don’t recognize a merchant name, do a search online because it might be a parent company.)  It is important to contact the merchants where the fraudulent transactions are coming from and explain that they are fraudulent transactions.  Also, It is extremely important to contact your bank or credit card company to close your card.  Without closing your card and getting a replacement with a new number, fraudulent charges can continue to hit your account.

I login to my online banking and credit card websites weekly.  Last month I had $4,000 in fraudulent charges in Texas on a credit card I rarely use and was in my possession.  WOW!  I contacted the merchants and called my credit card company right away.  Because I didn’t wait to notify them, I’m not liable for the charges.  If I would have waited days, weeks, or months, I could have been liable for some or all of the $4,000.  When you notice fraud, don’t wait to take action.  The longer you wait, the more time fraudsters have to take your money. (And the greater chance you’ll have to pay for it.)

Having and using these cards make our lives on-the-go easier and more convenient.  We don’t have to worry about carrying cash; just swipe, earn rewards points, and go.  I couldn’t live without my debit card and don’t intend to stop using it any time in the future, especially with all the rewards points I earn.  And yes, I cash those points in for more gift cards to keep in my Card Cubby. 

We're serious about doing all we can to protect you from debit card fraud. MutualBank customers can call 800-382-8031 to report any instances of fraud or suspicious calls.