That little message on the back of your Visa Credit Card or STCU CheckCard that says, "AUTHORIZED SIGNATURE - NOT VALID UNLESS SIGNED," is not the credit card equivalent of those annoying pillow tags.
You can't just ignore them.
According to Visa regulations, you must sign the signature panel on the back of your card or your card is technically invalid. That means a merchant could choose to deny your purchase if you have not signed the card. Worse yet, a crook could go on a shopping rampage with your unsigned card.
Some cardholders believe that it's safer to leave the signature panel blank or to write “See ID” (or CID) on the space. The theory is that this forces the clerk to ask for a driver's license or other picture ID, providing you greater protection.
The truth is that merchants are supposed to refuse acceptance of unsigned cards, though many don't. By signing your card, you provide a verifiable way for a merchant to check your identity by comparing your card signature with the signature you used on the receipt. If the two signatures don't match, the merchant should cancel the purchase.
Now consider what would happen if you accidentally lost an unsigned card. Anyone could sign it by writing your name as it's imprinted on the plastic front of the card in their own signature style. When the store clerk compared the fraudster's signature on the back of your card with the one he or she used on the receipt, it would be a perfect match.
And what if the clerk does demand to "see ID?" That's no problem for the fraudster. The crook simply flashes the harried clerk a quick look at his or her driver's license, the clerk confirms the picture identity, and accepts the sale. The fraudster takes home the goods purchased on your account.
Here are some tips for keeping your credit or debit cards safe:
Activate and sign your card immediately.
Don’t let your card go out of your sight.
Merchants should only swipe your card once through one device. If someone puts your card through two devices, immediately report your card to STCU as stolen. Call us at (509) 326-1954 or, after hours, call (800) 682-6075 for your Visa Credit Card, or (800) 754-4128 for your CheckCard. That second device may have been a "skimmer" to capture your account number for an identity theft ring.
Memorize your PIN. Never write it on your card or let someone "borrow" it.
Watch out for over-the-shoulder PIN surfers in public places.
Use Verified by Visa or a secure code when shopping online (dependent upon merchant availability.)
Regularly empty your wallet or purse of receipts.
