Comments on: The Danger of Losing Your Wallet – And How to Protect Yourself http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/ Financial talk for the rest of us Sat, 16 Feb 2013 01:14:45 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Pam http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-360200 Pam Fri, 22 Aug 2008 17:50:06 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-360200 What if you are single, no family, your wallet is stolen, you are about to rent a car, just realize it and aside from a an airline ticket you have no resources for twenty-four hours. This happened to me to make me think through this carefully as I travel a lot. Assign one or two people back at the office. Find a friend. Also carry a 1000 American Express Travelers Checque in a backup place in your wallet and list the numbers in your cell phone (the numbers Amex provides). I also got a AAA Money Card – not linked to a bank account and Paypal account to keep in a REAL EMERGENCY folder in my bag, sewn to bottom. Does anybody else have any ideas (I live in an earthquake zone – San Francisco and am always looking for ways to examine the worst case scenario here. Thanks! Great posts to all!

]]> By: Kai http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-324787 Kai Fri, 11 Jul 2008 00:56:21 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-324787 A note for those mentioning to get a duplicate ID – you’re lucky, wherever you live. In Alberta for sure, and possibly the rest of Canada, this is not only impossible, but actually illegal. They do not issue more than one, and if you lose one, and they replace it (for a fee), you are actually required to destroy the original immediately should you ever find it. To be caught with more than one license would be a huge fine.

]]> By: John http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-322688 John Tue, 08 Jul 2008 12:29:45 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-322688 The only preventative tip you need:

LEAVE YOUR WALLET ON TOP OF SOMETHING YOU WILL HAVE TO USE IN THE NEAR FUTURE, I.E. CAR KEYS OR WORKPANTS FOR THE NEXT DAY.

WORKS EVERYTIME. I USED TO LOSE MY STUFF 24/7 UNTIL I PILED THE ‘VITALS’ AND VOILA!

]]> By: lex http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-321224 lex Sun, 06 Jul 2008 18:10:51 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-321224 I don’t use wallet at all and think others can also avoid it.

]]> By: Kim Dresel http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-320668 Kim Dresel Sat, 05 Jul 2008 23:07:49 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-320668 A comment on filing a police report: My wallet was stolen when I foolishly left my purse in the restroom at Target a few years ago–it was only about a minute before I realized it, but long enough for someone to rifle through my purse and leave with my wallet. I made a report to store security, but they assured me there was no reason to file a police report. Of course they were unable to recover it.
Then, about 8 months later I received a call from the police who had stopped someone carrying my ID. They asked about a police report, and because I had not filed one, they were unable to pursue any charges related to the theft. I assume the person was arrested for trying to pass off an ID not her own, and/or whatever she was stopped for, but how I wish I could have compounded her legal issues even more!!! (By the way, my immediately cancelled credit card had over $5000 in charges in the first 2 days after the wallet was stolen. . .)
Moral of the story: DO NOT LET ANYONE TALK YOU OUT OF FILING A POLICE REPORT!!!

]]> By: Bill http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-320536 Bill Sat, 05 Jul 2008 20:31:08 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-320536 Why you should avoid debit cards:

http://www.pirg.org/consumer/banks/debit/debitcards1.htm

As a former (reformed?) banker, I use only credit cards.

Debit cards are a convenience for the bank, NOT the consumer.

]]> By: Mister S http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-320285 Mister S Sat, 05 Jul 2008 13:50:47 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-320285 The most crucial thing to do with a credit card is write “WITH PHOTO ID ONLY” on the back with a CD/DVD marker. This way no one can access funds because when charging at a store there is no way they will get away with it unless they look remotely like you. Then the only way they can charge you is over the internet so the other method i take is memorize your security number on the back and then cover it with a marker. This way even if your wallet does get stolen or go’s missing, its useless, just a hassle to get everything back.

]]> By: Ruth http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319865 Ruth Sat, 05 Jul 2008 00:02:02 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319865 One other thing, which I discovered the hard way.

If you are married/whatever and have joint credit card accounts, make sure each partner doesn’t have duplicates in their wallet. My husband and I were vacationing and he lost his wallet. Cancelled everything – no problem. Then we realised that all of his cards were my cards were cancelled! Not a problem when you are close to home maybe, but in a foreign city staying in hotels that need credit card authorisation = recipe for disaster.

Now, we each carry one. That is, we have a VISA and a Mastercard which we are both signatories on. I carry the VISA and he has the Mastercard, and the duplicates are locked in the safe at home. So if we need to cancel a card we still have one available to use.

]]> By: Karen http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319753 Karen Fri, 04 Jul 2008 21:22:08 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319753 Something else – I realized after I lost my wallet a few weeks ago that it contained nothing with my phone number or email address on it – meaning that if a do-gooder did find it, I’d have no way of knowing that it was in safe hands until well after I’d already gone through the hassle of cancelling all my cards. Fortunately for me, mine turned up that night in a bag of lettuce in my fridge. Now there is a clearly written “If found please contact…” card inside.

]]> By: Abbie http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319451 Abbie Fri, 04 Jul 2008 16:10:12 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319451 The best tip is “don’t panic”.

Last summer my boyfriend lost his wallet while trying to get a new license at the DMV, so he had *every* form of ID in it – old license, SS card, birth certificate – plus credit and debit cards. He did exactly what you said here and avoided any identity theft. And, despite his panicking, it took a couple months, but he did get new copies of everything.

]]> By: Jeff http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319402 Jeff Fri, 04 Jul 2008 15:09:26 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319402 Took you advise and scanned my cards.

Be sure to review the scan-some of my cards have pictures on them and the numbers are hard to read.

Flip the card over and jot down the security code on the back.

Write the customer service number next to each card. You’ll have all the numbers handy if you do lose your card.

]]> By: Dean http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319285 Dean Fri, 04 Jul 2008 11:50:23 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319285 In the UK when paying with a debit/credit card *you* put your card in the card machine and you type in your PIN to authorise the transaction. No signing, no plain swiping.

The downside is, if someone knows your PIN and then acquires your card, you’re liable for any charges as they wouldn’t be able to make fradulent transactions if you kept your PIN secure.

]]> By: A Week In The Life of A Redhead http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319071 A Week In The Life of A Redhead Fri, 04 Jul 2008 06:01:02 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-319071 I find it a bit humorous when people worry so much about their wallets but never bother to ask where the information on credit application goes. Do you have any idea how many people in the bank see your car financing application, VISA application or home loan application. What about the loan officer that drives around with your information in their car? How about the escrow people from the copiers to the couriers. You’d be shocked at just how many people get to see all your financial information when you apply for any kind of credit. I won’t even begin to discuss how everyone should use a shredder for all their mail. A wallet is really small pebbles compared to the information in a credit file.
Catherine

]]> By: Todd http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318878 Todd Thu, 03 Jul 2008 23:53:12 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318878 I just read in an article on msn.com last month that you should NOT show ID with a credit or debit card because a smart clerk could quickly memorize your date of birth and driver’s license number and/or address. They’d then have this information in addition to your credit card number, which would make identity theft easier.

Did anyone else read this? I’ve always preferred to have them ask to see my ID because I thought that approach would make theft much more difficult.

]]> By: a.b. http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318674 a.b. Thu, 03 Jul 2008 19:24:14 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318674 I’ve had my wallet with ssn card stolen/misplaced on a few occasions and have yet to experience any identity theft (although I am proactive and check). Most people are after the quick cash and the likelihood of the individual who stumbles across your wallet having the skills and contacts to steal your id without getting caught at the first stop is not big.

As a cautionary note, the person who breaks into your home most likely does have the contacts to strip your life away, so if you are going to make copies of all of your id, ccs, and other important docs make sure they are in a properly secured safe and not hidden in your underwear drawer.

]]> By: Xtine http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318667 Xtine Thu, 03 Jul 2008 19:08:39 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318667 Duplicate driver’s licenses are only $10 in my state.

Because I’m INCREDIBLY forgetful (seriously, I have three sets of spare keys. One stays in my car, one in a safe place outside my home, and another inside, to address the ‘dammit, where are my keys?’ issue [the kitchen has been remodeled, so we've been without a key rack since may, so that habit is gone])

I keep a spare license in my glovebox, solely in case I get pulled over. I keep one in my wallet – duh, and I keep a floater.

I drive a lot, and until gas prices made me slow down, very fast and aggressively. The $10 for a spare license is worth it – “I forgot my wallet!” might be the thing that pushes the cop’s decision to write that ticket.

]]> By: rhymeswithlibrarian http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318663 rhymeswithlibrarian Thu, 03 Jul 2008 19:03:01 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318663 “A thin wallet is a good idea. However, it is not as crucial for women as men. Nice clothes for women, even the “dressy casual” type, often do not contain pockets, necessitating a purse. I personally prefer small, light purses, but some women essentially use one like a backpack.”

Personally, I won’t buy pants without pockets, because I refuse to carry a purse. To me it just makes no sense to put your essential possessions in something that can be easily snatched, or put down and forgotten.

I often wear an actual backpack for things like lunch, water bottle, change of clothes, sunscreen, notebooks… but keys and wallet stay in my front pockets (unless I’m wearing scrubs for work, in which case they go in a velcro-sealing side pocket).

Having said that, I realize some women might find it to show up at some kinds of jobs with a backpack… but why not insist on pants with pockets for wallet and keys, then carry the less crucial stuff in the purse?

]]> By: Sandy E. http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318661 Sandy E. Thu, 03 Jul 2008 19:00:09 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318661 Oh sorry – I didn’t read any of the comments and now that I have a little, I see this point had already been made.

]]> By: Sandy E. http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318660 Sandy E. Thu, 03 Jul 2008 18:59:07 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318660 I’ve done the photo-copying thing of the front and back of all my cards, but took it just one step further. I looked up the “report your credit card lost or stolen” to both my credit card and my debit card and programmed them into my cell phone. That way if those cards are lost or stolen while I’m out, I don’t have to wait until I get home to look up the phone numbers and report it. Sometimes time is of the essence in these matters.

]]> By: Dave http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318650 Dave Thu, 03 Jul 2008 18:43:10 +0000 http://www.thesimpledollar.com/2008/07/03/the-danger-of-losing-your-wallet-and-how-to-protect-yourself/#comment-318650 Trent,

Just out of curiosity, what is your advice if someone “makes sure” their driver’s license doesn’t have ther SSN on it, and find that it indeed is on there? This seemed like silly advice to me. Petition the state DMV?

- Dave

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