by Nikki Willhite

www.allthingsfrugal.com

I have to admit I am a fanatic about protecting my credit cards, my wallet, and anything else in my purse. I hold my purse securely, and never put it down.

Sometimes when I go shopping with my husband, it gets heavy and I start complaining. He offers to let me put it in the cart, where he will watch it. Right! I let him do it once. Of course, without thinking he turned his back on it and went to pick something out. We go through this ritual with regularity. He actually tries to wrestle my purse away...but I always prevail. (I guess I should stop complaining).

I can't say that my children are as careful. One of my sons left his debit card at the bank. Instead of turning it in, whoever found it went on a shopping spree. It can be hard to maintain a positive outlook on humanity when it happens to one of your children, especially when you know how hard they have worked for their money.

Debit cards do not have the same theft protection as charge cards. If someone takes your card, and uses it without your authorization, you are going to end up paying for some of it. It can cost you anywhere from $50 to $500, depending on when you report the theft.

Sometimes you do not even know the card is gone for several days. At the worst, you open up your bank statement and discover it. You must report it within 60 days of receiving your statement, or you could end up paying for everything that was charged with your card.

Every bank is different. Some will promise you a $50 limit on damages from theft, no matter when you report it. Check with your bank.