Pin numbers could cause unexpected debt
Not only can too many credit cards lead to debt but they can also lead to confusion, as people play a memory game to recall individual pin numbers.
With the introduction of the new Chip and Pin, people are facing up to the importance of remembering their pin number, but often completely forget the sequence of numbers when they are asked to punch them into the machine.
Over 55% of customers have been left with a blank look on their faces within the past year, when asked to enter their pin number. As a result, some have resorted to using the same number for all of their cards. This is a big security risk as it takes all of the hard work out of cracking individual codes for a fraudster.
In a bid to remember which code goes with which credit card, people are writing down their numbers and carrying this information with them. This is a sure fire way to encourage debt as confidential information can literally be handed over to the next available con man, should you lose your handbag.
The only way to keep credit card pins safe is to reduce the amount of cards that you own or find a way of associating each individual code with each different card and then transfer this knowledge to long term memory.
An easy way to recall pin numbers and avoid possible debt problems could be to pick a card which relates to a certain family member (it may have a dog printed on it) and could relate to a dog lover in the family. Match this card with that person’s date of birth.
Savings News posted on 17/09/2007 08:42:30
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