Toonie Tuesday: protecting your loyalty rewards

Loyalty points, valued like cash, can be attractive but also vulnerable to theft. With hackers increasingly using methods like credential stuffing, where they guess passwords based on personal information, many users are at risk. It's essential to manage and secure our loyalty programs effectively. People often use weak passwords, making it easier for hackers. Doing a check on your apps and rewards programs is crucial to understand their value and prevent your points from being stolen. Taking time to strengthen passwords and be aware of how they are exposed can help safeguard your valuable loyalty points.

Data breaches are becoming more common, causing concern for many people, especially when it comes to reward points. Two-step verification is a suggested way to add security to accounts, as it can help prevent fraud. However, redeeming points may still pose challenges, as individuals might need to prove ownership or identity before accessing their points. While some stores require ID for point redemption, others do not. In situations where points are accumulated for things like holiday shopping, it becomes essential to understand the risks involved in protecting those points from fraud. Concerns about fraudulent activity make it necessary for individuals to stay vigilant and ensure they safeguard their accounts and points against possible breaches. This conversation highlighted the importance of being cautious with points systems and knowing the rules for redeeming them, as they can vary between stores and require different levels of identification for withdrawal.