St Louis mortgage consumers are constantly bombarded with safety tips on how to protect the use of our credit cards and now we make use of debit cards when we make purchases in person, on the phone or the Internet.

However, one may be caught completely off guard to know that identity theft can happen to you even when you still hold your credit card or debt card in your possession.

Most consumers have never heard of the term "skimming." This new wave of criminal offense utilizes modern technological advances where a criminal can much more easily get your credit card information.

St Louis finance experts are saying that credit and debt card skimming is now getting to be an epidemic while becoming more newsworthy due to recent skimming incidents like those at Bank of America.

Retails stores that accept credit and debit cards such as restaurants, bars, gas stations and ATMs are becoming more susceptible targets for skimming.

All a thief has to do is get hold of your credit or debt card, read it through a small hand held electronic equipment and in seconds has all your financial information that is kept on your card.

Criminals are also targeting ATMs now. By using cameras or observing you as you key in your 4 digit pin code, these ruthless white collar thieves can now suck your bank dry.

So, here are 7 tips to help keep your financial details private and safe:

1. Do not forget to always keep your bank or credit card firm updated on your personal details as you will need this to dispute deceitful charges.

2. While you are thinking about it, go and write down all customer service contact numbers found on the back of your cards and keep this list in a safe place. Oh, and look at your monthly bank statement thoroughly.

3. If an ATM is in bad shape or ruined, walk, better yet run away! A look of a dirty machine may signify that it is not working or may be a criminal clone trying to steal your information.

4. Another tip that most consumers forget about is informing your credit card company when you go on vacation and the destination of your travels. They can decline any suspicious charges much faster when they have this information.

5. If you see that the front of an ATM machine appears damaged or loose, this may be a sign that someone has attached a skimming machine.

6. If there are suspicious individuals casing the ATM, they possibly want your cash or are wanting to watch you type your PIN number. If you ever lose your card in a machine, just leave. It may be best to decently turn down help from someone who may have been observing you. You can always call your bank and get a new card.

7. Cover the pin pad using your other hand when putting in your PIN number.

Another good piece of suggestion that was mentioned above is to check your balance on a regular basis when your statement arrives.

For those who use their debit cards more frequently should also know that the laws safeguarding credit card holders do not involve debit card purchases. So, you are more protected using a credit card.

St Louis finance analysts recommend always notify your bank or credit card company within two days of misplacing your cards. This may help limit your losses to $50. The worst thing you can do is prolong this needed phone call. You may end up suffering greater financial losses by waiting.

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