I recently started using the Lewis & Clark Lockdown Triple Security Lock.
This TSA compliant lock is lightweight and can serve multiple purposes.
It was originally designed to foil thieves who know how to open locked bags via the zippers then covering up their tracks. To do this, you connect the larger loop through the luggage handles and the smaller loop through the zipper pulls.
Retails for about $12.
In a recent forum posting, someone asked about using locks on an L.L. Bean Quickload. Here’s how I use this cable lock on that bag:

You can also secure bags together or one bag to a fixed object.
The 3-dial combination is resettable.
(Frank II)