Editor's note: As the new college year revs up, Consumer Reports Money Blog devotes several days to the personal finance issues of college students. Here, Laura Veith, one of our college-age summer interns, muses on what she's learned about debit-card management:

There are many things I’ve learned about my personal finances since leaving the comfort of my parents' house. One of these is that a debit card is not invincible. Thankfully, I have never lost my debit card nor been a victim of debit-card fraud. But with issues arising in a greater frequency regarding debit cards, I wish I initially knew about the complications associated with the plastic in my purse. However, through my own personal experience and the opportunity to work at Consumer Reports, I feel that I have a better grasp of the perils of debit cards. The tips I have gathered below are a good start to the essential information that every teenager or new debit card owner should know.

For one, I have learned to monitor my debit card statements electronically. Though it may seem extreme, I like to check my balance every two days or so. That frequency may increase on days when I have made many purchases, such as at the beginning of the school year when I am responsible for buying books and other school essentials. I may check less frequently at other times. Either way, I think careful scrutiny of your account is the best preventive measure. Also, electronic statements are quick, easier to read than mailed statements, and a great way to stay on top of your expenditures.

My work here at Consumer Reports has taught me other helpful ways to protect my debit card. First, Consumer Reports Money Adviser has suggested that consumers not type in their PINs at the gas pump because it allows easier retrieval of your PIN. Who knew! After reading that article, I have started following those instructions and tell my friends to do the same. With all the horror stories about debit cards floating around, this simple alternative makes me feel more secure.

Second, I learned when to report a missing card or fraudulent purchase. One time during school I lost my debit card. I went on a panicked search for it and when it was nowhere to be found, I informed my parents. I didn’t inform the bank right away because I hoped it would turn up. Sure enough, it did. However, I wouldn’t have known what to do at the time if it went missing. This summer, four years after my receiving a debit card, CRMA taught me the proper procedure: Report any errors or issues with your debit card within two days of noticing the loss. In this time frame, a debit card user has a greater chance of combating the problem. 

Although these helpful suggestions led me on the path to understanding the security of debit cards better, I still wish I knew more. There are probably stacks of written material regarding this issue that I just haven’t found the time to look through yet. But I think my experience through mistakes–and working at Consumer Reports–provided a solid start.

Laura Veith is a junior at the University of Michigan, majoring in English.