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Anti Credit Card Fraud Tips

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Being a responsible credit card owner goes beyond making payments on time; it also means protecting your card from fraudulent acts that can put you and your finances in danger.

Credit card fraud is downright damaging to your finances and your reputation so you need to make sure that you are protected against it. Don’t wait until you see unfamiliar transactions on your next monthly billing statement before you start doing the defensive measures that can deter thieves and con-artists from using your name and money. Here are some tips that can help prevent credit card fraud.

Remember that your credit card is just like cash, so keep it secure and never leave it unattended.

If you own any expired credit cards, cut them up because they can still be useful in fraudulent transactions.

Always sign your credit card as soon as you receive it because unsigned credit cards are more prone to unlawful and unauthorized use.

If somebody calls you and asks for your credit card information (i.e. your account number), do not entertain that call. Generally speaking, you never give your card number to anyone unless you initiated the call to a reputable institution or a company.

While some credit cards have pictures, it should never be solely used as an identification card or as a reference to prove your identity.

  1. Remember that the card is non-transferable, so it should never be used by anybody else.
  2. Always double check the sales invoice or transaction slip before signing it.
  3. Never entrust your card to individuals offering cash conversion or additional credit limit.
  4. After using your credit card for a transaction, claim it immediately and keep your transaction slips in a secure place so you can compare them later on with your billing statement.
  5. Keep an eye on the person handling your credit card and beware of card skimmers used in “swipe and theft” scams. Skimmers record information from your card’s magnetic stripe so they can be uploaded in a computer.
  6. Your billing statements should also be stored in a secure place. Destroy them if you wish to throw them away.
  7. Notify your bank immediately if you want to change your billing address.
  8. Check your credit cards regularly to see if one of them is missing.
  9. Keep records of your card details in a safe place to serve as ready reference if you want to call the bank to report a stolen or lost credit card.
  10. Save the customer service number of your bank or credit card provider in your mobile phone so you can easily contact them.
  11. Never disclose your PIN and passwords and regularly change them if you can.
  12. If you lose your card, report it immediately.
  13. All your personal information should be kept private, including your mother’s maiden name, social security number, home address, and your email address. Only disclose information when you initiated the call to the official customer service call center of your credit card provider or bank.
  14. Always check your transaction history and look out for unauthorized transactions. You should also keep a record of all transactions where you used your credit card.
  15. Install a reputable antivirus program and firewall in your computer.
  16. Only shop in secure websites and reputable websites with updated data encryption systems.
  17. When using your ATM, make sure other people cannot see the screen. Only use ATMs that are in well-lit locations. If you suspect that the ATM has been tampered with, avoid using it.
  18. Always log-off from an internet banking website even if you are using your own computer. Also, don’t forget to clear the cache and your browsing history.
  19. When online shopping, be sure to read the “FAQs” and “About” sections of the website before making a transaction to find out about its disclosure policies.
  20. If you are using your mobile phone for banking, do not let anyone know about it. If your cellphone is stolen, immediately report it to the bank.



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KEEPING AWAY FROM CREDIT CARD PROBLEMS

Once used properly and efficiently, credit cards are handy and suitable devices for just about anyone who is of age. It can even assist you with upcoming activities like buying a house, getting another degree and sometimes going for a leisure trip somewhere abroad with family and friends. Before you allow your teenager or yourself to get a credit card, know some of its advantages and understand some of its procedures.

A credit card can allow you to bUy products or services which you need right now but can’t afford to pay all of it at once. Sometimes it’s often the single way to pay for hotel accommodations, car rental fees or airline tickets.

Credit cards also allow it holders to purchase items over the phone or sometimes in the internet. You can shop and pay your monthly bills in the convenience of your very home! Some credit card companies offer virtual banking that lets you shop and transact business online.

It is also safer to carry a credit card than to carry cash around wherever you go. For the most part, credit cards are very useful in instant emergencies like accidents, car breakdowns or calamities.

You could actually even give anything you purchase protection, avail of travel insurances, free miles and even cash back bonuses if you charge your transactions with your credit card.

One fact is for sure; having a credit card is convenient at times but also remember that a credit card tempts you to spend money you don’t have. Always have the sense to follow up on your credit card to avoid overspending which can give you a big headache in the future. Use your credit cards in ways that you benefit from them, not them benefiting from you!

Understand what you’re getting into before you start building up credit card balances. Once used wisely, they are an absolute help in budgeting. But if not, they will turn up to be your greatest nightmare.