Looked this up on Snopes and they confirm that this is generally good advice.
However they did put some other ideas.
1) Regarding the initials instead of full name. Really doesn't matter, since checks are processed electronically, and the signature doesn't even get looked at. Even if it isn't signed at all, they will probably go through.
2) Phone number on check. Why bother with a phone number at all. If a merchant needs the number, you can write it on yourself.
3) Credit card numbers (last 4 on check) Again, it isn't needed. They can take your account number from the slip you include.
4) "See Photo ID" instead of signature on the back of the credit cards. I found this blurb on a credit scam website:
So, the question is: is this the correct advice to reduce credit card fraud? Should you -- or should you not -- sign your credit cards?
To answer this question, we called the fraud departments at MasterCard, Visa and American Express.
All three advised that you definitely SHOULD sign your card.
MasterCard told us that this idea -- not to sign your card -- is an urban legend that sounds sensible, but is not a good idea.
American Express warned us that merchants are not supposed to accept your credit cards if they aren't signed. Visa agreed -- in fact, they said that the merchant is instructed to not finish the transaction until you sign your card!
So, not signing your credit card is an example of a very popular urban legend that is false. And we stand by our original advice -- sign your credit cards immediately when you receive them.
I can't remember the last time I wrote a check, anyway. Except for transferring funds between accounts at different banks, I never write checks. I do everything on-line, or use my debit card for purchases, and have for several years. Or I use the "Bill-Pay" service from Bank of America for those bills that don't have on-line payment.
For on-line purchases, my credit card issuer has "Virtual Account Numbers" with generated numbers, expiration date, and confirmation code. The numbers are used for that transaction only, and are linked to my true account numbers. If they are tried any other time, they won't work. That way, even a dishonest merchant or employee can't use the info to make fraudulent purchases.
I also check each and every account I have daily, just to be sure nothing unusual shows up. It's also a good idea to check your credit report at least every year. You can get all 3 credit agency reports for free once per year. Just go to www.annualcreditreport.com. This isn't the "freecreditreport.com" you see on TV, which requires you to sign up for the monitoring service. This is absolutely free, and required by recent Federal credit legislation.