Debt Consolidation ? How to Protect Your Credit Accounts from Theft

Last week, a security exploit at CardSystems Solutions, Inc, a credit card processor, may have allowed thieves to obtain as many as 40 million credit card numbers from unsuspecting victims. The theft was brought about though a virus introduced into the CardSystems that allowed external hackers to obtain access to the account information. Adding to the problem was the fact that CardSystems wasn't supposed to have the account information at all. It appears that CardSystems "inappropriately" held onto the information after clearing the credit card transactions. At that point, the account information should have been deleted. CardSystems held onto the account information for supposed "research purposes." Fortunately for those involved, the compromised information only included account numbers and not Social Security numbers, which would have assisted the thieves in identity theft scams. This latest security breach at a credit card processor outlines how anyone can be vulnerable to account or even identity theft. Is there anything that can be done about it?

The credit card companies largely dictate the relationships between the credit card companies and the credit card processors. They are supposed to keep tabs on the processors and make sure that the processors use secure measures to protect the data of customers. These issues are not governed by law, but the processors can be fined by the credit card companies for violations. So what can the average credit card customer do to make sure that their account information isn't compromised? Not much, it would appear. The paper transaction has long since been replaced almost universally by the electronic one, and anytime a customer uses a credit card, their account information is moved from one computer to another. Hackers continue to develop more sophisticated methods of stealing information, and their techniques are often ahead of the processing companies' ability to develop comparable security measures. For the foreseeable future, credit card customers must consider that their accounts are vulnerable.

In time, the credit card companies and their associated processors will establish security guidelines that are more effective than the ones that are currently in place. In the meantime, the best thing cardholders can do is to simply minimize their exposure. The best way to do this is to have as few credit card accounts as possible and to use them sparingly. Granted, it is often difficult to avoid using credit cards, but there are times when people simply pull them out of the wallet out of habit when using a check or cash would suffice. This may sound inconvenient, but at the moment, the only way to make certain that your account numbers are safe is to avoid using them when possible.

©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and HomeEquityHelp.com, a site devoted to information regarding home equity loans.

---

Vultures and Victims

Has anyone noticed how many loan companies now fill up... Read More

Debt Relief From Debt Consolidation

If you are up to your neck in debt, there... Read More

Exploring Your Options for a Consolidation Loan UK

Whether you're wanting to consolidate your debt to avoid bankruptcy,... Read More

Best Debt Reduction Service

There was a time when incurring debts was looked down... Read More

Debt Consolidation Mortgage - Decode Its Apparent Complexity

Someone great once said that 'if it isn't the sheriff,... Read More

Debt and New Spirituality

Overcoming the stigma of being in dept, grow in self-confidence... Read More

Consolidating Your Government Student Loans

A Consolidation Loan allows you to combine your federal student... Read More

Before Considering Debt Consolidation

If you believe in the good in people then you... Read More

Debt Elimination: Legal! Lawful! Ethical! Debt Elimination Really Works

You are trying hard to eliminate your loans but keep... Read More

Bad Credit Debt Consolidation Loan

Nowadays, many people can get into a bad credit situation... Read More

Burdened with Debt?

Too many debts? Having trouble paying your bills? Are you... Read More

What You Need to Know About Debt Consolidation Loans UK

Should you find yourself over your head in debt, you... Read More

Getting Your Best Deal on a Consolidation Loan

If you find yourself having to make too many payments... Read More

What Your Mama Never Told You About Debt Consolidation Services

When someone is extremely deep in debt, and he or... Read More

Debt Consolidation Service In Birmingham

Jane was a fun loving girl from Birmingham, you could... Read More

Debt Consolidation ? Discipline is Required if Consolidating with Home Equity

Debt consolidation is a popular topic these days. The average... Read More

Private Student Loans ? Dispelling The Myths

Private Student Loans ? dispelling the mythsIf savings, grants, scholarships,... Read More

Pay Off Debt Now: 5 Steps To Getting Your Finances in Order

In our world of dizzying change, nothing is more true... Read More

Finding a Low Interest Debt Consolidation Loan

If you are in the market for a low interest... Read More

Shocking Facts - What Debt Settlement Companies Dont Tell You

If you're thinking about using a debt consolidation or debt... Read More

Getting the Most Out of Consolidation Loans UK

Before letting too much debt or too many payments get... Read More

Benefits of a Debt Consolidation Loan

There are many benefits in choosing a Debt Consolidation Loan,... Read More

Debt Consolidation: How it Works

As long as consumerism flourishes most of us will be... Read More

Getting a Debt Consolidation Loan with Bad Credit

If you've ever tried to get a debt consolidation loan... Read More

Debt Consolidation -- Choose Your Credit Counselor Carefully

Recently passed by Congress, the Bankruptcy Abuse Prevention and Consumer... Read More

Debt Consolidation ? Be Careful When Trading in Your Car

The automobile has long been recognized as the classic American... Read More

Student Loan Consolidation

Student loan consolidation is one of the most used methods... Read More

What You Need to Know About Debt Consolidation

Debt consolidation is often a last resort for people who... Read More

Debt consolidation ? More Options for Reducing Credit Card Costs

Borrowing money against your credit cards has always been among... Read More

Is There Something Called a Bad Credit Credit Card?

Is there something out there called a bad credit credit... Read More

All About Debt Consolidation Loans

Debt consolidation loans can be the answer to a number... Read More

The Pros and Cons of Debt Consolidation Loans

You are swimming in debt. You have 4 credit cards... Read More

Finding a Reputable Debt Consolidation Company

If you are looking for a company that will help... Read More