Credit Card Trend Spotting at The Box Office

PJ is thinking how much the times have changed.

Take the use of credit cards, for example. Just five years ago virtually nobody used a credit card at a movie theater. Why would someone charge a five dollar movie admission? Well, those days and that kind of thinking are certainly over. Miles and points and rewards have seen to that. Nowadays, in fact, credit cards account for 25 percent of the theater's sales. And the number is growing.

It is unfortunate, however, that the "See I D" trend is growing as well. The fraudulent types out there, those who would steal your identity, are thrilled at this foolish phenomenon. Credit card holders, you see, seem to feel that they are protecting their identity by refusing to sign the backs of their cards. Instead, they print "C I D", "Ask for I D", or some other cute text stating that they should be invited to produce their driver's license when making a purchase. This is not only a violation of their credit card agreement, but is also unwise. Why? Let's see:

1. By not signing your card, you have failed to fulfill the requirements of your agreement with the credit card company, and thus may not be eligible for the fraud protection that comes with the agreement. Most cards state "not valid unless signed" or contain some similar disclaimer on the back just below the signature line.

2. The credit card companies have made it clear to us that we are not authorized nor are we to ask people for their ID's because the signed card is the only ID one needs to present in order to make a purchase.

3. The most common cause of ID theft comes at the hands of unscrupulous store employees. For example, one day after using his credit card at a local gas station, PJ was notified by Visa that his card was fraudulently used for purchases in the country of Turkey. One needs to be vigilant and not provide additional identification. Requiring potentially fraudulently-minded store employees to ask for your driver's license is absurd. Give them the least necessary: a signed card. That's it. No more. When you require someone to ask for your license, you are volunteering your address, and your driver's license number. You are inviting trouble.

4. By Leaving your card unsigned or writing "See I D" leaves room on the back of the card for someone who finds your lost card to actually sign your name. This signature, however, will be in the handwriting of the finder of the card and will match the signature he/she writes on the receipt of an illegal purchase.

To sum this up: Signing your card actually protects you from identity theft and credit card fraud. And, as an aside, there was a time when we used to ask for ID as requested, and virtually every person we asked was totally annoyed that we would ask. If you don't want to be asked to be produce your identification, don't be asking people to ask! You have too much to lose.