In today’s age, Credit cards have become the most used modes of payment. Most people are shopping or making payments online, which have increased card frauds and scams. Every time you use a credit card, its information is always at risk. But how do you avoid it? You can prevent this by keeping all the information about your credit card safe. Always be on the lookout for possible scammers just in case they are planning to steal from you. In this article, well discuss some of the ways you can prevent credit card fraud:
1. Keep Credit Cards Safe
Just like your bank details, ensure your cards are kept in a safe, secure place away from reach from anyone. When at home, keep your cards in safe or lockable drawers where you can quickly check them. When traveling, please store these cards on wallets or areas where they are secure and you can easily reach for them. If shopping on busy streets or shopping malls, ensure you hold your credit cards at hand or somewhere safe and close to you.
For example, if you own more than one credit card, always go shopping with one and leave the rest at home. With this, you can easily monitor its presence and use. One last tip, ensure you do not overexpose it. Once done with making payments, carefully put it back on the purse or pockets to avoid anyone else taking photos.
2. Destroy any document with your credit card number
After you are done with your shopping, the receipts you get might be having some, if not all, of your credit card information. Ensure you destroy the documents after you are done with your calculations, especially on the parts which contain the credit card information. In case of sensitive receipts, tear off the section containing your credit card information and keep the rest.
Make a point of destroying your old, expired credit cards, too, since they hold your bank details. Ensure you shatter these vital documents into small pieces that can’t be put back again. If possible, burn them.
3. Be safe with online purchases
Nowadays, most individuals make online shopping and pay online. Through this online shopping, you must submit your credit card details and information to websites or portals provided by the sellers. How do you trust them? Through PCI DSS testing, you can quickly check if the website processing your card information is up to standard.
Nowadays, there are a lot of scammers who provide links the same as the official online stores. They will send you a link or email which will redirect you to their fake website, where you will require providing your vital credit card information. Without knowing, you will end up submitting your bank details, which will lead you to lose your hard-earned cash. Ensure the websites you are shopping with are secured and legitimate.
4. Avoid giving out your credit card information
Whether you are shopping in a mall or doing online shopping, never provide your credit card information. If possible, be the one who will be keying in the security details and passwords. If you receive a call from someone who is requesting your card information to initiate a purchasing process, ignore it, and ensure you follow the rules provided by the online shopping website.
In cases where you are not sure who called or if the site is legitimate, cancel the process, and seek advice from experts. When you notice something unusual, contact your bank and stop the transaction immediately.
5. Report missing cards immediately
If you lose or fail to find your credit cards in places you keep them, report the case to your bank immediately. Reporting the loss to your bank or police will stop any transaction and ensure that any fraud is caught up on time.
Ensure you keep contact details of your bank or your local anti-fraud close in case of such eventualities. Failing to report not only will subject your funds to fraud, but you might be sued for not reporting fraud. Ensure the reporting is done immediately to avoid such losses.
6. Be checking on your bank statements regularly
Always conduct a spot check on your bank account for any unauthorized transaction. One of the reasons why you should review your bank statements regularly is so that you can track suspicious activities. If you notice any change, immediately inform your bank or change your pin and carry on with the investigation. In the case of regular occurrences, close your bank account and open a new one.
Other measures you can take include changing your passwords, verifying credit card readers, avoiding signing of credit card bank details, and much more. Ensure you refer to this article anytime you feel things are not okay with your credit card to stop or prevent its fraud.