Ways to Vigilantly Shield Credit Card Info

When federal prosecutors alleged Monday that a one-time government informant and two other men conspired to steal 130 million credit card account numbers over and above the 40 million he'd stolen already, it constituted the biggest case of credit and debit card data theft ever in the United States, authorities said.

It also served as a reminder that everyone has to take common sense and easy steps to zealously protect his or her financial info from prying eyes, according to CBS Money Watch.com Editor in Chief Eric Schurenberg.

On "The Early Show" Tuesday, he spelled out the steps we all should take to try to assure we don't become victims.

How can you protect yourself?

Just check your bank statements all the time, online if that's easier for you. If you see something fishy, dispute it with the credit card company. Save receipts, as well.

You can't keep someone from stealing your numbers. But you can be careful.

Don't write your PIN number on your card. Keep your cards in sight at all times. Never give a card to a vendor who calls you. If you're online, before entering your card info, make sure the site is secure by checking its Web address. It should stsrt with https, as opposed to the usual http. Make sure your computer has anti-spyware and anti-virus software. And don't go to an ATM machine that isn't at a bank.

Is it better to use a credit card or debit card?

Credit cards are better, because they offer more protection. Your liability would be limited to $50. And a thief would be lifting money from the bank, not your pocket. A debit card gets more complicated: You'd only pay $50 if you report it within two days. It goes up to $500 after that. When your card is misused, the money is taken out of your account directly.

Is it better to just use cash?

Yes, but it's less convenient, and with credit cards, you have more protection against goods that are falsely advertised or that don't work right.

What's the worst that could happen?

Even if your number is stolen, you should be protected, as long as you're vigilant. But if a crook uses it along with other info on you to engage in identity theft, you may not find out for a long time and your credit standing could be destroyed. In the event of identity fraud, put a fraud alert on your card with the major credit bureaus, such as TransUnion and Experian.

Is anyone immune?

No, your number is out there. You can be compromised at any moment.