11 Things to Never Keep in Your Wallet, As Thefts Rise

Headlines about rising theft rates across the country may be making you nervous. This month, authorities from New York to Lee's Summit, Missouri, to Seattle are reporting an increase in people's increased tendency to take what isn't theirs. But there are easy things you can do to protect yourself and your finances.  First, because car thefts are skyrocketing nationwide—always lock your car and never leave your wallet inside. (If you must, keep it out of sight.) Second, be mindful about what you carry in your wallet while it's on your person. Being careful about what's in your wallet can mean the difference between major stress—and, potentially, financial losses—and peace of mind. These are 11 things experts say you should never keep in your wallet.

Experts agree: The absolute worst thing you can carry in your wallet is your social security card. That's because anyone who steals it can apply for credit in your name, file a tax return or claim your refund—all kinds of damage that can take years to undo. "Your Social Security number is the most vital piece of information for identity thieves, and the damage resulting from identity theft can impact your finances for years to come," said Michael Bruemmer, vice president of consumer protection at Experian.

Financial gurus also advise not carrying your passport in your wallet. If it gets stolen, it can be used like a social security card by identity thieves (not to mention majorly complicate your travel back home). When you're traveling abroad, experts recommend keeping your passport locked in your hotel room safe and carrying a photocopy. Other tips: Before you leave, scan each page of your passport and put it in a Dropbox or Google Drive account, in case you need to obtain a new one while you're abroad; and never put your passport in your luggage while you're traveling in case your bag is lost or stolen. 

Carrying blank checks in your wallet is a very bad idea for a very obvious reason—if someone gets ahold of them, they can make unauthorized withdrawals from your bank account or use the check routing and account numbers to commit online fraud. 

We know, it's hard to keep track of all your online passwords and PINs. Most of us—73%, according to a Pew survey—cope by jotting them down on a password cheat sheet. But if you've got one, the last place you want to keep it is in your wallet. The financial news outlet Kiplinger advises keeping your cheat sheet in a locked box in your house or in a digital password manager like LastPass. You should also enable two-factor authentication on every account that offers that option—it requires logging in with a code sent to your email or smartphone, further locking identity thieves out.

Keeping a spare car key or house key in your wallet is a major security risk. Your wallet likely includes your driver's license or other ID on which your address is printed, so keeping your key alongside is like inviting thieves right into your home. 

It's easy to let multiple credit cards amass inside your wallet. But experts say you should only carry the card or cards you use most frequently; the ones you use sparingly or rarely should be kept in a safe place at home. That's because in the event your wallet is stolen, you're giving thieves access to a wide breadth of your accounts—and you have to take the time to contact many credit card companies to cancel and replace those cards instead of just one or or two. (A potential bonus: Editing the cards you carry may also prevent you from overspending.) 

It's also easy to let old purchase receipts, the ones you've flagged for safekeeping, build up in your wallet. But if they're truly important, keep them at home in a safe place. Identity thieves may be able to use information they contain—including your signature—to access your accounts, forge documents, or make purchases under your name. 

The days of cash being king are long over. Even neighborhood grocery stores and gas stations are accepting digital payment apps like ApplePay and Venmo these days, and you can pay with a debit or credit card just about anywhere else. So keeping large amounts of cash in your wallet will only compound your pain if it's lost or stolen. Of course, it's wise to keep some cash on hand in case you must pay by cash or it's just easier to use (like after dinner out with friends). Carry just the amount of cash you typically need during a 24-hour period, a financial planner told CNBC in May. 

Your birth certificate is a vital document—it's the gateway to all kinds of financial tools and basic life operations. And because it literally proves you exist, it can be a gold mine for identity thieves. It's just too important to carry in your wallet day-to-day. If you need to bring a physical copy of your birth certificate somewhere, transport it there and back home as expediently as possible. 

Storing membership cards—like those for your gym or Costco—in your wallet might seem super-convenient, but they'll add to your inconvenience if your wallet is lost or stolen. They're just more companies you'll have to contact about the loss or theft and wait for a replacement. Consider keeping your membership cards on your key fob, if that's an option, or on the table by the door where you drop your keys at home.

Carrying sentimental or irreplaceable items, like original family photos, could lead to heartbreak if your wallet is lost or stolen. If you like to carry a one-of-a-kind photo with you, consider swapping it with a copy from a digital photo service. Several online companies, such as Nations Photo Lab, can make glossy, wallet-friendly prints from a photo you snap on your cellphone.