9 Year Mortgage on the Danger’s of Having a Thick Wallet

Do you consider yourself a hoarder? Most likely not, however there seems to be one item that nearly everyone has a problem downsizing or parting with: their wallet. 9 Year Mortgage finds it curious that both men and women have wallets that are continually growing and never shrinking, which is unfortunately more of an inconvenience for wallet-hoarders in the long run. Why you ask? Because one crime in particular is directly linked to thick wallets, and 9 Year Mortgage will give you one guess as to what it is…

Discussing the Link Between Wallet Size and Identity Fraud with 9 Year Mortgage

9 Year Mortgage urges you to take a gander into your wallet; What do you see? The average American would probably find five credit cards, seven store membership cards, a picture or two, perhaps a bail bond card, business cards, a handful of frequent-buyer stamp cards, insurance cards, numerous ID’s dating back to high school or college, a library card or two,  driver’s license, a subway or bus pass, and even insightful fortunes you couldn’t part with after having chinese take-out.  Not only does this lump sum of cards and “goodies” wear out you jean pockets or weigh down your purse, but it looks like candy to any thief. In order to protect your identity and credit score, 9 Year Mortgage is going to help you decide on what you do and do not need to carry in your wallet.

What NOT to Carry in Your Wallet and Why

• Excess Credit Cards: The reason behind having seven credit cards is what? The more credit cards you have, the easier it is to spend money that you don’t technically have. On top of that, it becomes hard to keep track of them all and their balances, which typically leads to late/forgotten payments. And do you check all of their activity regularly? If your wallet was stolen or a card misplaced, it would make it all too easy for someone to max it out before you even notice.
• Store Membership Cards: At nearly every store you are asked if your are a member of their ‘preferred membership program’, which gives you regular discounts or points. Don’t be fooled into thinking that if you don’t carry your membership card that you can’t be awarded; Nearly every store can look you up with some other form of identification, such as name or phone number.
• Junk:  Things like fortunes, nic-nac’s, personal notes, and ticket stubs are most certainly not necessary to keep in your wallet. If you collect such items for sentimental value, 9 Year Mortgage suggests that you get a shoe box or something of the sort to keep such items in – at home. By voiding your wallet of little things like these you will be surprised how much bulk and weight you can get rid of.
• Extra ID’s: The point of carrying your expired drivers license or old school ID’s in your current wallet is what, besides a good laugh from time to time? 9 Year Mortgage especially advises you not to carry expired licenses with you- the same information is on your current license and losing the old one could allow others to know a little too much information about you.
• AAA Card: If you find yourself stranded or broken down on the side of the road, AAA is not going to refuse you their services because you don’t have your card with you. Saving their phone number in your cell phone will assure that you won’t be without their contact information.
  

What You SHOULD Carry in Your Wallet and Why

• Driver’s License: Unfortunately there is no super-secret reason as to why you need to have your driver’s license on you at all times, normal situations are enough evidence as to its importance: Driving, being pulled over, accidents and as verification for checks and credit card usage. 9 Year Mortgage suggests that you never leave your license at home.
• Bail Bond Card: If you happen to have this “get out of jail free” card, make sure to carry it in your wallet at all times – there are no numbers that officers can look up to verify you have a bail bond card. If you somehow wind up in jail without your bail bond card, your only option is to have a friend or loved one bring it down to the local police station.
• 2-3 Credit Cards: 9 Year Mortgage understands the temptations that lure you into getting one credit card after another: all those air miles and rebates can really add up! However we suggest that you carefully pick just two to three credit cards to keep and use. Research which company will give you the best air mileage, rebates, and identity theft protection.
• Picture: You may think that a picture should be in the ‘not to keep’ section, but did you know that 88% of wallets with a baby picture in them were returned? Even if you don’t have a kid, do your self a favor and find a picture of the cutest baby you can and put it in a place that is easily visible in your wallet. It may make the difference of your wallet being returned or not!

 

9 Year Mortgage Sums It Up

The reasons for not cleaning out your wallet are different for each individual; you could live in fear of not having something at a specific moment or think that if its plastic than it’s a permanent object in your life. You may have no desire to clean it out or think that the more you have the more you can save. Wallet hoarding is something that is actually very common, especially in hard economic times because of the fear of not having all of your important personal possessions with you 24:7.

Having that large wallet may come as some sort of odd comfort to you, but 9 Year Mortgage promises that you can manage with less than half of what is in there. Seize the day and embrace the small skinny wallets being sold at every department store and ditch that plump bi-fold! Don’t let your large wallet make you susceptible to being part of the 76% of identity theft cases that result from the theft of something physical (ie: your wallet and credit cards)! There is no time like the present to stop being a wallet-sized bill board and start protecting your finances and identity. Remember that the less you have in your wallet, the less tempted you will be to spend money on one of your many cards, and all the while you will simultaneously be ridding yourself of the target your thick wallet has created for thieves.

 

For more information on Ways to Guard Against Identity Theft here’s another article from 9 Year Mortgage!

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