Keep A Separate Credit Card Just For Bills In Case Your Wallet Is Stolen

Most banks have accommodating policies for credit card theft. However, it can still be kind of a pain to cancel your card and all of its automatic payments. NerdWallet writer Virginia McGuire has a solution: Designate a specific card for automatic bill pay. Image: BernardaSv/iStockphoto

After her credit card was stolen, McGuire went through the hassle of resetting her bill payment info. We've all been there, and she explains her solution:

Most of us have more than one credit card anyway. If you already have multiple accounts, it's the easiest thing in the world to designate one credit card exclusively for automated bill payments.

I now keep that credit card at home — well-hidden and protected by a burglar alarm — and carry a different credit card for daily spending. That way, if my wallet takes a walk without me a third time, I won't have to change the payment information on my Netflix account yet again.

Yes, that credit card info can still be compromised (maybe one of the providers gets hacked), but her method still minimises the overall risk. It's a smart idea, and an easy enough one to implement. For more detail, head to her full post below.

Having a Just-for-Bills Credit Card Makes Fraud a Little Less Disruptive [NerdWallet]


    Personally, I keep a credit card with the lowest limit possible (in my case $500) which I only use for online purchases and bills. If you need to but something greater than the limit then you just put it into credit. If its compromised, you are only out $500 max while the banks sort out the mess.

    Wouldn't it just be simpler to set up direct debits instead?

    I was assulted and robbed by two men they took my iPhone 6 (It's activation locked so it's a useless brick to them) but didn't take my wallet or keys as I didn't have any money.

    After that I realised I have allot of personal information in my wallet my name, address, bank account details, medicare, medibank cards etc

    Since then I have taken all these cards out of my wallet and keep them at home I only carry my debit card which I can cancel in the event of a robbery.

Join the discussion!

Trending Stories Right Now