A Remedy for Identity Theft

Over 16 million people were victims of identity theft in 2017 including credit card and debit card holders.  One way to protect yourself from identity theft is to purchase a prepaid credit card or prepaid debit card. I am very careful about 1) where I use my credit card and debit card, 2) online shopping and 3) general protection of my personal information.  Unfortunately I still became a victim of identity theft due to a Netflix scam that charged my debit card $7.99 for a movie I never purchased. 

I didn’t notice the unauthorized transaction until I received my bank statement because I hadn’t used the debt card in over 3 months. I immediately had the account closed. This further reinforces my decision to pay for everything with cash.  However, some merchants prefer customers pay with a credit card so in those instance I have to pay with my credit card. There are several benefits of using a prepaid credit card or debit card. 

The benefits of using a prepaid credit card are:

1. Load cash online, from another card, direct deposit, online or at a retail location.
2. Zero liability.
3. Accepted everywhere.
4. No maintenance fees. 
5. Helps manage your money.
6. No interest rates.
7. Can be used at ATMs.
8. Prevents going into debt.
9. Can make purchases online.

The benefits of using a prepaid debit card are:

1. Load cash online, from another card, direct deposit, online or at a retail location.
2. Accepted everywhere.
3. Zero liability.
4. No maintenance fees.
5. Helps manage your money.
6. Can’t go over the limit.
7. Can be used at ATMs.
8. Can make purchases online.
9. No late fees.