Credit & Money Management
My Wallet Was Stolen: 4 Lessons Learned
Follow these tips so thieves don't target you -- and if they do, you'll be prepared.
By Candice Lee Jones, Reporter, Kiplinger's Personal Finance Magazine
November 13, 2009
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Someone stole my stinking wallet while I was pushing a cart at the supermarket. And, to add insult to injury, the wallet was snatched during National Protect Your Identity Week (October 17 to 24).
I learned a few valuable lessons from the experience, which I would like to share. Here’s what I did wrong, what I did right and how I will be more prepared if it ever happens again (not that it will).
Related Links
- Your ID-Theft Prevention Kit
- How to Protect Against Credit Card Theft
- Take Steps to Guard Against Identity Theft
Lesson 1: Stay alert -- even in the frozen-food aisle. When I got to the grocery store, I set my purse down in my shopping cart and began walking up and down, turning my back every so often to grab a bottle of this and a package of that. I shouldn’t have been so trusting. When I got to the register, I realized that my wallet had been plucked from my purse and I couldn’t pay for my groceries. I offered to put them all back (and felt grateful that the thief had not taken my purse, with my keys, phone, and datebook).
Lesson 2: Crooks can work fast. So keep the number to report lost or stolen cards handy. Everyone knows that the first thing to do is cancel your credit and debit cards. (Actually, the first thing I did was call my Mom. But right after that I called the bank.)
The crooks were quick: By the time I had retraced my steps in the grocery, driven home and looked up the “800” numbers to call to report missing cards and freeze my accounts, they had already used my cards. The first place they ran was to an office-supply store less than a block away from the grocery. They bought just less than $10 worth of stuff. Why pens and pencils? Why not big-ticket items? Police say criminals often test cards they steal by making small purchases first. They continued to try their luck at department stores and fast-food restaurants, but by that time I had frozen my accounts.
On the semi-frantic drive from the grocery to my apartment I wondered why I had never programmed the toll-free number to report a lost or stolen card into my cell. It’s more important than the pizza-delivery number I have in there.
Lesson 3: Report the problem ASAP to police and the credit agencies. I was in the process of filing a police report when my bank called to tell me where my cards had been used. The one charge that made it through before I froze the accounts would be taken off as soon as I signed and returned an affidavit that the bank would send me.
I relayed the bank’s information to the police to help them find the culprit. In turn, I can use the police report if I need to place an extended fraud alert, which lasts for seven years, on my credit report later on.
The day my wallet was stolen I filed an initial fraud alert online to be put on my credit report. The alert lasts for 90 days and entitles me to one free copy of my credit report from each of the three agencies (see below). An alert tells potential creditors that you have reason to believe that you are at risk for identity theft and to be cautious about granting credit in your name. I thought it necessary because the person with my wallet now had my driver’s license, credit cards, several forms of photo ID and a good look at my signature (see Fraud Alert Versus Credit Freeze).
Lesson 4: Keep photocopies of your wallet’s important contents. I should’ve made copies. Now, as I replace the contents of my wallet, I am keeping photocopies of important cards: my driver’s license, insurance cards, mass-transit pass, etc. Had I done this before “the incident,” getting replacements would have gone more smoothly. It would not have been so hard to remember what in my wallet needed replacing. And I would have been able to provide current account info when asking for replacement cards.
Though I will never see my wallet or my Robek’s juice card again (I was just three hole punches away from a free smoothie!), I did learn some things.
Bonus Tip: How to place a fraud alert
To place an initial 90-day alert on your credit, contact one of the three credit-reporting agencies (Equifax, Experian and TransUnion). By contacting one of the three agencies, your request will be passed on to the other two, which will then send you confirmation. It is free to set up an alert, which removes you from prescreened credit-solicitation lists and forces lenders to take extra steps before approving credit in your name. It also affords you one free copy of your credit report from each agency.
After the 90 days are up, if you are still concerned, you may place an extended fraud alert on your file -- also free of charge. To request an extended alert, you will have to provide a police report or official record showing you’ve been a victim of identity theft. Here’s how to contact the agencies:
Equifax (800-525-6285; P.O. Box 105069, Atlanta, Ga. 30348-5069)
Experian (888-397-3742; P.O. Box 9530, Allen, Tex. 75013)
TransUnion (800-680-7289; P.O. Box 6790, Fullerton, Cal. 92634)
Reader Comments (15)
Posted by: gary at 11/13/2009 08:18:19 PM
I'm tired of reading articles about what the victims should do. If credit card companies would issue smart cards that give single-use transaction numbers and require a pin to use, there would be no market in stealing credit cards or card numbers. Why don't they do this? Because they don't really care. Credit card companies don't take the losses. The businesses that take credit cards do. If visa had to pay for stolen cards, the problem would be solved in a day.
Posted by: Karen at 11/14/2009 01:24:23 PM
I also had a wallet stolen from an open purse in a grocery store. Before I could get home and notify my card holders, they had purchased a video game at a store about a mile away. After thinking about it, I noticed that I get in a kind of grocery-shopping trance. Now I keep my purse on my shoulder, and only get purses with zippers which I close before starting to shop. In addition to the steps you took, I also had to notify my DMV and public library, and get a new driver's license and library card. A few times when I've seen women shopping in grocery stores with their open purse in their carts, I've told them of my experience. Don't know if the appreciated it or not.
Posted by: Marcia at 11/14/2009 03:15:13 PM
This was a useful article. While I agree with Gary that credit card companies can make it a little harder for thieves to use the cards, the practical advice provided is a good reminder. Anyone can be a victim in the blink of an eye. Female shoppers should never leave a purse unattended for even a moment. And for men, even if your wallet is in your front pocket, a pickpocket can steal from you, too. It happened to my husband!
Posted by: Gerald at 11/15/2009 04:28:00 PM
aint that the truth
Posted by: Renee at 11/16/2009 11:05:26 AM
Credit card companies now make it even easier. If it's less then $25 you don't need to sign anything. Oh and when you use it for gas, nothing is required but the card.
Posted by: Nomen at 11/16/2009 12:06:20 PM
Lesson number 5.(Don't make it easy to steal)I convinced my wife years ago when fanny packs first came out that they would make an excellent purse. I bought her a multi-colored leather one with a substantial strap to go around her waist. She first wore it shopping in downtown Chicago and felt awkward at being the only woman in the store with one. A couple years later we went back and about a fourth of the women in the same stores had one. I joked that she had started a trend. She wouldn't be without it now. It took a while to reduce her carried items to the absolute essentials but it is ALWAYS carried to the side front and everything is within reach in zippered pockets. No more leaving it in the shopping cart or on the floor. I also agree with Gary that the credit card companies make it way too easy to use stolen cards and I also fault our government with not prosecuting credit card and identity thieves with real penalties. A little vigorous prosecution and much of this problem would go away.
Posted by: Tess at 11/16/2009 12:22:54 PM
Thank you for this article! I really learned so much. I'm afraid that I'm guilty of leaving my purse unattended at the grocery store... but no more!
Posted by: Chuck at 11/16/2009 05:13:20 PM
Lesson 5: Don't carry your social security card in your wallet. If you do, and it gets stolen, the thief has all they need to steal your identity.
Posted by: peter at 11/17/2009 12:14:20 AM
to piggy back (on) your article for protecting identity, i thought i'd share a recent story of my own. While traveling in paris with my parents some (possible gypsy) kids attempted to steal my dad's wallet. We were on the metro and he only noticed that his wallet was missing after he sat down (keeps in back pocket). He immediately looked towards the door and as it was starting to close 2 kids got off. Luckily his quick instincts led him to the door just in time to grab at the girl, who then dropped his wallet. Disaster averted!! We were lucky. However, this all could have been avoided by some simple travel advice for pickpocketers that pray on tourists. 1- When on vacation bring only the essentials. Library card in mexico? I don't want to have to fill out another form to get a new card. No gracias. 2- His wallet was bulky and could easily be seen sitting in his back pocket. I don't know why you would do this in the first place (since it's horrible for your back when you sit down) let alone on vacation. Someone "bumps" into you and BAM, your credit card just got swiped and you have a charge for $500 at Lord and Taylor. While I LOVE the idea of a fanny pack (offered by Normen), I think a possible more conspicuous way might be to either put your money in your front pocket or use one of those "money belt" things that are hidden inside your pants. 3- Last piece of advice.... if you're ever caught scoffing at a friend because he encourages you to "act like a local" while traveling... think again. He's really just trying to protect you from potential pickpockets. The more you blend in, the less likely you'll be targeted as a bewildered tourist.
Posted by: Annie at 11/17/2009 06:59:41 AM
My entire handbag was taken from inside my shopping cart inside IKEA in Germany, while I was shopping for curtains and curtain rods for all the rooms of the new apartment we had just moved into. The shopping cart was full of curtain panels and 140 cm hanging rods and hanging equipment overflowing from a huge blue IKEA shopping bag, but sans handbag. The staff found my handbag less wallet, coin purse and handphone within 20 mts on the upper level of the store in bedding. Thankfully my car keys were left behind. Found out the hard way (because I hardly understood any of the German instruction before getting to a live customer service officer), that in Germany when you called the toll free numbers to cancel bank ATM cards, all cards under the account are cancelled (which did cause a problem as we have a joint acount and it was late on Friday evening when it happened and the banks opened for business only after the weekend). I did get my cards restored and thankfully whoever had stolen them had not used them yet (of course the cash, coins, my beautiful Anne Klein leather wallet, all my family thumbnail pictures, AND leather coin purse and Tmobile Dash with 400 contact information were history of course). I still have to get my US driver's license and I don't ever leave my handbag in my shopping cart anymore.
Posted by: dmboo at 11/17/2009 08:29:30 AM
I have a purse that zips shut and have a big carabiner that i use to actually clip it to the cart. I don't put it up in the 'childseat' of the cart, but actually underneath the seat, so someone really has to lean over and get into my cart to get anything.
Posted by: sandy at 11/18/2009 09:24:43 AM
I agree with Gary, yet go one step further. Credit Card companies get your SS and most personal information. If you loose the Smart Card, which provides single-use transaction numbers, why can't the banks issue cards with the owner's picture like the Warehouse retailer Costco and Sam's clubs. However, it is freightening to have your identity stolen or anything stolen but it happens. Repeat, repeat, and repeat will make people take the 'It can't happen to me attitude.' go away.
Posted by: Page Larkin at 11/19/2009 10:44:29 AM
Another twist- In church, many people leave car keys in the pew when they go to communion. A friend did this -once- and realized a thief had slipped in, grabbed the keys, slipped out, pushed the panic button on the key and voila! a car, with a purse, a lap top, cleaning and 3 bags of groceries in the trunk. My friend was without cell phone, money, ID, keys, etc...or a clue what to do. Keep your keys close...
Posted by: David Miller at 11/19/2009 08:00:29 PM
Why credit card co's DON'T FORCE cashiers to ask for an ID when a C.C. is being used ? Why they DON'T ISSUE O N L Y (!!!) C.C. with the owner's picture ? I think that NEVER IN MY LIFE A CASHIER CHECKED MY SIGNATURE ! WHY ? Looks to me that the reason the C.C. co's don't care because than they can sell C.C. "PROTECTION" , ID THEFT "PROTECTION" etc..etc.. THE Gov. SHOULD FORCE THEM TO PUT IN ACTION ALL OF THE SECURITY FEATURES MENTIONED, BUT LOOKS OUR Gov. DON'T care too. I gave up C.C., use ONLY debit card and the day they will out all kinds of fees on Debit cards I'll give up them too and start use good old cash. THE HELL WITH THEM, THEY ARE T H I E V E S !!!
Posted by: Hannah at 11/27/2009 09:45:55 PM
i had my wallet stolen today with 300 dollars cash. I was gutted, more need to be done to catch, punish and prevent....that was A lot of money to me and I really didn't feel anyone wanted to help. In England u have to use a pin with all transactions, useful article