Like most people I have several unused credit cards, you know the ones you open so that you get the extra discount, but intend to destroy them afterward.
Most lenders tell you not to do ANYTHING if you intend to purchase a property, especially don't close the account since this could bring your credit score down.
But what about ones you just never use. Be cautions about cutting them up.. I usually use scissors and try to cut them into tiny pieces so my identity cannot be stolen. Like most of us, I know you must cut through the magnetic strip and the signature. Don't forget the set of four set of numbers, they should be cut up into six or more pieces.
Another thing you should do is not put them in the same trash cans. Hopefully, your trash cans will be placed on the curb at different times of the week. Little things can make a difference!
Recycling is NOT as safe as putting them into the trash. Employees of the recycling companies know exactly how to look and find information. It becomes too easy to find on conveyer belts which the materials pass through.
To be as safe as possible, burn them in your fireplace along with your statements and blank checks, not the most Green thing to do!
Avoiding identity theft and fraud can be the best way save money. Identity fraud can cost as much as $5,000 + per person.
My mind does not work like a criminal and most likely yours does not either; however, simple acts like these can make you your worries and concerns ease a bit.
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