"Will that be debit or credit?" How many times have you heard this question in your lifetime? Chances are, you've been faced with this decision on a daily basis. But did you know that your choice could mean the difference between becoming a victim of identity theft or not?

Federal laws safeguard consumers from monetary loss in fraudulent purchase and identity theft cases. These laws change based on how quickly you report your losses and the type of card you use.

When it comes to using your debit card, your chances of identity theft rise significantly. In fact, data shows that nearly half of all identity theft cases occur through the unauthorized use of debit cards. Debit cards are especially susceptible because thieves can watch you type in your PIN number when making a transaction. Advances in technology have made this even easier, since thieves can take a video or photo of you typing in your pin number with their smartphone.

Another common way that identity theft occurs through debit card use is through "skimming" devices, which are secretly installed in ATMs. These devices store all of your debit card information, including your PIN number. If “skimming” devises get hacked you could be in big trouble.

No matter which card you use, make sure you routinely check your statements for any errors or warning signs. You should also research identity theft protection services, which can immediately alert you to signs of certain activity that you may find suspect.