Owning a social security card is one of the smartest things that you can do. While it does require you to fill out a form, gather the necessary documents, and go through the entire application process, a social security card can give you benefits in the long run.
Here are five things that you should understand why investing in a social security card is crucial.
#1. In Case You Forgot Your Number
If you are the type of person who can quickly memorize the social security number, then you might think twice before going through all the trouble of applying for a social security card.
However, to be sure, having a social security card with you when you need it the most can save you from a lot of stress. You’re probably thinking, you can keep it on your phone or write it on a piece of paper and tuck it in your wallet.
However, there is no guarantee, and you might end up losing your wallet or accidentally delete the information on your phone.
Getting a physical card gives you that extra assurance that you have a backup no matter what happens.
#2. Bank Account Opening and Credit Card Application
If you are opening a bank account either to deposit your savings or to use as a payroll account for your business, banks will usually ask for your social security number.
Opening a bank account is a big step, and you want to make sure that you supplied the correct information. Most of the time, bank officers will ask to see your card or even a copy for verification purposes.
Creditors will also ask for your social security number along with a copy of the card so that they can verify your credit worthiness.
If you make a mistake of providing an incorrect number, you could be jeopardizing your chances of opening a bank account, and you will cause additional work for the bank officer and creditor.
#3. Passport Application
Passport applications often require you to prove your identity. Many government agencies recognize social security card as a primary identification card that you can submit together with your passport application.
You can avoid the hassle of getting additional documents other than a social security card. Besides, you only ever need to pay one-time social security card cost, and you can use it for as long as you want. Unless you lose it for any reason, you will then have to pay a replacement fee.
Also See – How to Use a Credit Card Responsibly – Tips and Advice
#4. New Job
Employers require new employees to provide their social security number for verification of work eligibility. Employers also need the social security number for wage reporting on tax forms.
To make sure that everything is legal, employers would want to get a copy of your social security card for evidence purposes. If it’s your first time to get a job and you don’t have a social security number, your employer might assist you in obtaining one along with the card.
However, this is not a common practice among employers. To be prepared, submit a social security card application when you get your SS number.
#5. Applying for Additional IDs
As a rule of thumb, you should always keep two or more identification cards in case you lose or misplace one.
Driver’s license expires, and a passport is too valuable to carry with you all the time.
If you need to apply for additional IDs, agencies will usually require proof of identification to process your application. A social security card will come in handy for this type of situation.
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