We’ve all heard the warnings: never give out your personal information over the phone or Internet unless you want someone to steal your identity. Even the most official-looking e-mails branded with corporate logos can be a front for phishers – crooks who want to make off with your credit card information and more. But sometimes you have to take extra steps to protect your identity. Here are some tips to keep you safe.

Leave Your Credit Cards at Home

When you don’t need your credit cards, leave them at home in a safe place along with your Social Security card and other important documents. This will not only curb the temptation to make impulse purchases, it will also keep your finances secure in the event that your wallet or purse is lost or stolen.

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People cancel credit cards for lots of reasons. Maybe your cards now come with an annual fee that wasn’t required before. Or maybe your credit limit has been slashed while your interest rate has increased. Whatever your reason, it’s sometimes tempting to get rid of old credit cards by closing your accounts. But is this really the best approach? Here are some factors to consider before you cancel your credit cards.

Reasons to Cancel

As mentioned above, lots of cardholders have been shocked to find that the terms of their credit cards are significantly worse now than they were just a year or two ago. That’s because of the credit crunch and the new credit card legislation. If you have cards with high interest rates and stiff annual fees, it might be a good idea to cancel them.

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