Tips to Avoid Credit Card Fraud
So many people across the globe are affected each year by credit card fraud and identity theft. It has become a priority for governments to enforce laws to help prevent consumers from having to suffer this awful experience. Although these laws are in place, it does not completely prevent credit card fraud from taking its toll on a person’s credit rating and bank account. It is more important than ever to keep yourself safe from fraud by guaranteeing personal information is secure.
The easiest way for a thief to steal your credit card information is to steal the credit card itself. This form of credit card theft is the easiest to trace and the easiest to catch early on. It’s always important to keep your card on you at all times and check regularly that it is still in your possession. Never leave your purse or billfold alone and if you are the victim of a mugging, report the theft immediately to police. Most credit card companies will reimburse you for any unknown transactions but the sooner you report it as missing the easier it will be to avoid disputes over which transactions were made without your knowledge.
Credit card statements are also a great way for thieves to get a hold of your information. It’s best to avoid paper credit card statements all together and opt for online statements that give you more up to date information and privacy. If you must use paper statements be careful about how you store and dispose of them. Make sure that you always keep important papers in a safe place and shred any documents that contain your credit card statement before you throw them away.
While this may seem like a hassle, it could save you a lot of trouble down the line, so play it safe. You never know who might be going through your garbage.
Never give out your credit card information over the phone unless you are making the call to a reputable source that you know and trust.
Even though most of this may seem like common sense, scammers know how to be manipulative and can often get the majority of uninformed people to fall in their trap. If you have a concern about a company that has contacted you, it’s always a good idea to write down the name and number of the organization and check it out with your local consumer protection office or Better Business Bureau. If a scammer is contacting people in your area, you can protect others and help put a stop to their actions by notifying the proper authorities. In all honesty it’s never a good idea to give out credit card information over the phone. There is always the chance that the wrong person could over hear you and write down your information but sometimes it will be necessary just make sure you are careful about it.
It’s now in these times that you are at the worst risk of becoming a victim of credit card information theft when you use your card on the internet. There are so many different ways that a thief can gain access to your information so it is of the highest priority to be extremely careful when using the internet for transactions. For starters, NEVER give out your information directly to anyone that you are uncertain about. Most individuals or small internet companies accept payment through trusted third parties such as paypal or neteller who protect your information and keep others from gaining access to it. If these sorts of payment methods are not an option then it’s better to just avoid making a purchase with them entirely unless they are a very well known and reputable site such as Amazon. Even when making a purchase with a major site be sure to check the URL and do not use links given to you via email. Never give out your information to someone who requests it via email even if they say they say they are from your bank because banks would not ask for such information.
When making a purchase over the net make sure you always use your own personal computer to make transactions. There are several programs that can show a potential thief which keys you have used and these criminals are known as keyloggers. So if one of these programs has infected your computer it could gain access to all of your personal information without much effort. Some spyware works in much the same way so when using your computer be sure to run anti-virus and anti-spyware checks regularly to locate any security problems.
Finally, check your statements regularly for any unknown transactions.
Sometimes thieves will get a hold of your information and wait months before they make a move and other times they will just take a little bit at a time in hopes that you won’t notice. There is a reason that credit card companies provide you with a statement so make sure that you check yours every single time you receive one.
Credit cards are extremely convenient and provide a valuable service, so don’t let all of these tips make you nervous. In many ways credit cards are still safer than cash because if your card is stolen you can still get the majority of your money back. Play it safe and report any problems early and you’ll be able to enjoy all the benefits credit cards have to offer, without the headaches.