Watch for fewer account numbers on credit/debit receipts

by Center for Personal Finance editors

MADISON, Wis. (8/3/06)--Quick�check your credit card receipts. If they show the full account number and expiration date, they're a gold mine for identity thieves. But a federal law is slowly changing that, reducing the risk associated with your credit and debit card receipts falling into the wrong hands (CUNA Center for Personal Finance).

Thanks to the Fair and Accurate Credit Transactions Act (FACT Act), credit and debit card receipts no longer will include more than the last five digits of the card number, nor can the card's expiration date be printed on the receipt. Devices that print receipts must be in compliance by Dec. 4, 2006.

Visa and MasterCard have even more stringent truncation mandates, allowing only the last four digits of account numbers from appearing on receipts you get at the point of sale.

There's another loophole. According to Privacy Rights Clearinghouse, the law doesn't apply to receipts that must be handwritten or that involve imprinting or copying the card.

One more tip: When you request a copy of your credit report, you can ask that the first five digits of your Social Security number (or other identification number) not be included in the file.