Top Three Things to Never Carry in your Wallet

It can happen to anyone, at any time, anywhere. Identity theft happens most often when someone gets another person’s information for financial gain.

This can happen easily if a purse or wallet is stolen. Some are constantly on the defense, clutching their bags while they’re out and about, but for those who are not, they can be subject to serious consequences.

One of the most prolific identity thieves, Carole Crane, was sentenced to more than 10 years in prison for bank fraud earlier this year. She was notorious in Portland, Oregon, and would use disguises to steal purses and wallets whether they were at churches or in preschools.

If someone gets ahold of your belongings with all of your credit cards and personal information, then that’s where it can get tricky for you and even your insurance company.

According to Kiplinger and CNBC, here’s what you should avoiding carrying in your wallet: 

1. Social Security card. Identity thefts can use this number for just anything from obtaining credit cards to loans. Never carry your actual card or a piece of paper with those numbers on it. Besides, when was the last time you needed to take out your Social Security card?

2. Passport. I was actually guilty of this. Going back and forth from home, school and cities in and out of the country, I thought this would be “safest” place to keep it. ID-theft experts say if your passport is stolen, if could be used to get a new copy of your Social Security card, open bank accounts or even travel using in your name.

3. Multiple credit and debit cards. This one is a given, but the fewer cards you have, the fewer bank accounts you will have to cancel or freeze. Some experts even say, don’t use a debit card at all! Nearly 7 percent of the population are victims of frauds and scams. Every time you use it, you are putting yourself and your bank account at risk, according to the author of “Catch Me If You Can,” Frank Abagnale. Credit cards are certainly much safer as you don’t pay that money you spent until you pay the bill. Debit, on the other hand, you risk losing that money and waiting days or even weeks to get that money back.

Curious about what else shouldn’t be in your wallet or purse? Here’s a longer list of items to never bring with you.