13 Things You Should Never Keep in Your Wallet
If someone swipes your wallet, losing any of these would be so, so much worse than losing a few bucks.
Social Security card
A big no-no: Stowing your Social Security card or number inside your wallet. “Social Security cards and the number itself are one of the most valuable pieces of information in the hands of a thief,” says Eva Velasquez, president and CEO of the Identity Theft Resource Center. “With it, they can easily file taxes on your behalf, open a line of credit in your name, receive medical attention, or even commit crimes using your information.” If your wallet is stolen with your SSN inside, immediately report the theft to the Social Security Administration and watch out for these 12 red flags someone just stole your identity.
Even if you aren’t carrying your Social Security card itself, your SSN might show up on an even more common culprit: a Medicare card. Old Medicare numbers, which are valid until January 2020, are just your Social Security number with one or two letters and numbers tacked on—not too hard to decode. To avoid giving out one of the most serious numbers a hacker can steal, only carry your card when you have a medical appointment, says Adam Levin, founder of global identity protection and data risk services firm CyberScout and author of Swiped. “All other days you make a Xerox copy of it, wipe out all but one or two numbers, and on the back write the [phone] number of an emergency contact,” he says. That way, rescuers will still be able to get the information they need during an emergency.
At first glance, a store or bank receipt doesn’t seem to carry much information. But a skilled crook can use those bits of information to steal your money more effectively, says Levin. For instance, someone who sees a bunch of receipts from weekday evenings at Target could shop there on a Monday night without looking suspicious to the credit card company. Or your credit card’s customer service department might be more likely to believe a crook who happens to know all your recent purchases. Or a phisher could pose as your favorite restaurant via email, putting malware on your computer when you click a link. “Why have a data point that, if someone could get their hands on that, would enable them to know just one more piece of the puzzle?” says Levin. “If I don’t need it, don’t throw it away—shred it.” Instead of stuffing receipts into your wallet after every purchase, ask to receive a copy via email, or store printed receipts digitally using apps like Shoeboxed.
If you make a habit of saving money at Costco or getting to the gym often, good for you! But now for the catch: You shouldn’t be keeping your membership cards in your wallet. If someone got a hold of your wallet, the thief could use those cards to get into the gym and superstore, and each would be one more card you’d need to worry about replacing. Keeping those cards in your car is a safer bet, says Robert Siciliano, CSP, the CEO of IDTheftSecurity.com.. “I’m not walking to Costco—I’m driving,” he says. “If I need to go, it’s in the car.” Just make sure you never keep these 15 items in your car.
Like cash, you have no way to get money back from gift cards if you lose them. “It’s a sitting duck,” says Levin. “This is cash. You don’t even need to show an ID to use them.” You wouldn’t carry around hundreds of dollars in cash, so you shouldn’t risk losing a big stack of gift certificates either. Only tuck them in your wallet when you know you’ll use them, says Levin. Learn about these 12 items you should never carry in a purse too.
More than a few credit cards
You’ve got a credit card for your favorite department store, another for air miles, another for hotel points—the list goes on and on. But having a million cards isn’t the best idea; Siciliano and Levin both recommend capping it at two or three to avoid identity theft. For one thing, spreading your points out into several different cards, none will add up to anything useful, says Siciliano. An even bigger risk, though? The more cards are in your wallet, the more damage a thief can do quickly, says Levin. He recommends carrying just one credit card and a debit card, and leaving the rest at home. “If they all get stolen, the bank is not going to get them back to you in an hour and a half,” he says. Keeping them separate will give you a safety net, as long as you don’t swipe them for these 10 times you should never use a credit card.
Your work ID
If your work ID lets you swipe in to get office access—especially during odd hours of the night—your business could be at risk if your wallet goes missing. Giving a thief access to the building could get both you and your employer in trouble, says Siciliano. He recommends using one wallet for your 9-to-5 and another for the weekends.
About 67 percent of people write their passwords down on a piece of paper, according to a 2017 survey by the Pew Research Center, but keeping a running list of your passwords, PINs, and alarm codes in your wallet is just asking for trouble. “It wouldn’t take somebody more than a few minutes to figure out what those numbers are,” says Levin. “Why be an unwilling co-conspirator in the theft of your own identity?” Siciliano recommends using a password manager on your phone or computer instead. The app stores all your passwords for you, so you can make a different obscure one for every account without needing to memorize them all.
Criminals can do a lot more with a blank check than you might think. For starters, they can easily counterfeit the checks in order to tap into your checking account, says Steve Weisman, author of Identity Theft Alert. They can also use the bank account and routing numbers on the check to withdraw money electronically, which is faster and harder to track. The smarter move is to carry only one or two checks when you know you will need them, leaving the rest safely at home. These are the 10 things you should do ASAP if your wallet is lost or stolen.
Beware of toting around spare house keys in your wallet—it’s an open invitation for thieves to break into your home, experts say. All the crooks have to do is find your address on your driver’s license, and they will instantly have access to everything inside your house. Financial advising site kiplinger.com suggests leaving spare keys in the care of a relative or friend instead.