Live in Washington? Don’t Carry These 7 Items in Your Wallet

Why is our wallet seemingly bursting with so many unnecessary items? Experts claim that there are seven things you don’t need in it.

Hint: If a crook got their hands on your wallet - you could be in deep trouble. 

I admit that I've misplaced and lost my wallet several times in my adult life.

In today’s society, crooks could make off with a lot more than your hard-earned cash. Identity theft is an important mission in the dark underworld. 

Here are some sobering statistics

* More than 1.1 million reports of identity theft were reported in 2022.

* Credit card fraud was the most common type of identity theft in 2022, with 440,666 reports. 

* Synthetic fraud is the fastest-growing form of identity theft.

What is an example of synthetic fraud?

 'A synthetic identity may be created by stealing a real SSN and combining it with a false name, date of birth, and address. This new, fake identity is then used to commit acts of fraud.' -Experian

 

The good news is that there are ways to combat these modern-day thieves. One way is to simply not carry these seven items in your wallet.

Social Security Card

The paper card itself is useless. The Social Security Administration says that simply providing the number for opening bank accounts, applying for a new credit card, or going through a background check is enough.

If the card with your legal name and social security number falls into the wrong hands -  thieves could apply for credit in your name, - and damage your credit. 

Checks

Having blank checks in your wallet can give a thief all they need.

What’s on your blank check? Your name, address, banking institution, routing number, and account number. It’s unwise to carry blank checks with you.

Multiple Credit Cards

Credit cards are a huge target for thieves.

Why?

The internet NEVER asks you to show your ID when using a credit card. Pick the one you use the most and store the rest at home.

Spare House Key

If a crook gets your wallet - with your address (from your ID) and a spare key - they could zip over to your place and clean you out.

Unused Gift Cards

If your wallet wanders off, consider the balances on it gone. It’s a good idea to leave these safely at home until you know you’ll head to the store and spend them.

Password Cheat Sheet

Chances are, you’re one of the thousands guilty of using the same password across multiple platforms. If you lose your wallet, you’re without your cheat sheet, and there’s a good chance that the crook will use the information to hack your accounts. Experts say to use an encrypted password manager app.

Receipts

Thieves can use the last five digits of your credit card, which are stamped on the receipt, and merchant information to phish for the other numbers. That’s why you should request an email receipt when possible.