College Students Guard Against Theft on Spring Break

The credit counselors at our non-profit Consumer Credit Counseling Service (CCCS) agency are warning college students to take precautions with their cash, credit, debit and ATM cards while on spring break. Thieves are drawn to large crowds and that’s exactly what you’ll find in the most popular vacation spots for students—Cancun, Las Vegas, Lake Havasu, South Padre Island, Panama City, and the like.

Many students seeking a stress-free week away from the books become victims of fraud, identity theft, and short-sighted financial decisions only to return home to compromised credit. Our credit counselors offer students ideas for a safer trip.

Using a Credit Card

Credit card reforms prohibit consumers who are under 21 from getting a credit card without a co-signer, unless they can demonstrate "an independent means of repaying" their debt. Unfortunate, since they come with numerous consumer protections, such as limited liability on lost or stolen cards, credit cards are often the safest method of payment when travelling.

Paying with a Debit Card

Relying on debit cards subjects you to additional risks: increased financial liability—up to $500—for charges on lost or stolen cards; ID thieves can immediately empty your bank account; and if you miscalculate the remaining balance and overuse your debit card or it’s drained by thieves, each debit will incur a hefty insufficient funds charge. And, if your debit card is stolen it can be used to not only to withdraw your cash, but also to make purchases. Should you need to rectify damage caused by theft, it’s more difficult to get cash returned to your account than it is to get fraudulent charges removed from your credit card statement.

ATM Cards

Generally speaking, ATM cards are less risky than debit cards since a PIN number is required to access the cash. The greatest risk with ATM cards is using them at non-bank machines. Identity thieves can more easily capture your keystrokes and steal card numbers and PINs from ATM machines not attached to banks.

Spending Cash

Cash is useful because it’s most widely accepted and it’s easy to track your spending. When the money is nearly gone, you know it’s time to stop spending and you don’t risk paying off the trip for the next year. The danger is that it’s most easily lost or stolen and rarely returned. If you’re travelling on the cheap and just making straightforward transactions (where consumer protections aren’t really necessary)—drinks, tacos, cab rides, and using cash makes sense.

General Security

Whatever method of payment you prefer, keep your card or cash in a secure location. What do you do with your credit card when you go swimming in the ocean? Or while you’re at a bar or club? Try not to leave your belongings unsupervised. If you’re hotel has room safes, it’s a good idea to bring only the money or card you expect to use for the day.

Don’t carry all your credit or bank cards at once, so if you’re ripped off, you’ll still have access to funds.

Use your hotel room safe whenever possible.

Airports, train stations, crowded streets and tourist spots are prime locations for purse snatchers and pickpockets. In defense, consider wearing a light-weight, small neck stash or money belt for carrying cash and cards. Although they can be taken, they are much safer options than keeping a wallet in your back pocket or carrying a purse.

Wired Up

If you want to stay connected to family and must bring your laptop along, never leave it unattended. With credit card numbers and personal data, laptops are common targets for identity thieves. Additionally, make sure the computer is password protected and that you use a cable lock to secure it to a large piece of furniture.

Making an effort to protect your cash and credit while on spring break can make the difference between a carefree or a stressful getaway.

If you’re a college student or graduate struggling with credit card debt, our Consumer Credit Counseling Service (CCCS) agency can help. We offer free, confidential, credit counseling during which we review your situation and create an action plan for you to emerge from debt. Call 888-656-CCCS or visit www.cccsstl.org.