There are a numbers of ways teens can protect their various credit cards–be it a traditional credit card, debit card, or prepaid or reloadable card. Teach your son or daughter to use the following safeguards for protecting their account information:
Sign It. Make sure your teen signs the back of his or her new credit card once they've received it.
Protect the PIN. Counsel them to never write down the PIN number and put in their wallet -require that they memorize it, or stash it in a very safe area. Make sure the PIN number isn't easy to be guessed, such as a date of birth, address or phone number.
Get it Back. Make sure merchants return the card after a purchase. Teens should never be in too big a hurry, or let other distractions keep them from getting the card back immediately.
Eyeball It. Never leave credit cards unattended or in visible sight of others. Remember, they are the same as cash.
Be Cautious. Instruct you son or daughter to never give their account number over the phone unless they've validated the company or person to whom they are speaking.
Double Check. Teens should always verify receipts, making sure the correct amount has been charged. And they should take all copies of receipts with them, especially ATM transactions.
Shred It. Your teen should always dispose of receipts and old credit card statements privately, not publicly. If possible, inform them to use a personal shredder or other device to ensure the name and account number are unreadable.
Call It In. Inform your teen to contact creditors immediately if his cards are stolen or lost.
Record It. Teens should record their credit card account number, and the telephone numbers of the issuing financial institution in case the card is stolen or lost. They should keep the list in a safe place.
Verify. Your son or daughter should check their credit statement immediately after it arrives. They need to verify the amounts of purchases with the sales receipts they've saved that month, and report any discrepancies to their creditors immediately.