Many people enjoy the ease and convenience of paying for goods and services with a credit card. Unfortunately, some people become victims of the growing problem of credit card fraud. The first you may know of fraudulent activity on your credit card account is seeing unauthorized transactions on your statement.
Here are 12 simple steps you can use to minimize the possibility of fraud on your credit card account:
1. Keep both your personal and credit card information secure. Never email your credit card details to anyone. Sending information via email is not a secure method of transmitting data and can be intercepted by savy criminals.
2. When you receive a new credit card always sign it immediately. This prevents someone from finding your card and signing their name.
3. When you receive a replacement credit card always destroy the old card immediately. Cut the old card into at least three pieces or shred it.
4. Make sure you thoroughly destroy old receipts or any information that may have your credit card details printed on them. The most effective method is to use a shredder.
5. Open and read your credit card statement as soon as you receive it. Check to make sure you know what all the expenses on the statement are for.
6. If you see transactions on your credit card statement that you do not recognize, immediately contact your bank or credit card company and request verification of purchases and dispute those charges that you can’t account for.
7. If you find that you have misplaced or lost your credit card for any reason, immediately Call the credit card issuing company and let them know. They will block the card to prevent any potential unauthorized use.
8. Never tell anyone your Personal Identification Number, which allows cash withdrawals using your credit card.
9. Make sure your Personal Identification Number is not easy to guess. Avoid using numbers that are easy to trace, for example do not use your date of birth, or your address. Ensure you use a different Personal Identification Number for each credit card you have.
10. Do not use an ATM if you suspect it has been tampered with. Report your suspicion to the bank that operates the ATM.
11. When you use your credit card in a retail store always keep a watch on your card while the clerk is processing your payment. Double check that it is your card that is returned to you.
12. If you use your credit card to make online purchases, always ensure the web pages where you input your credit card details are secure. A secure web page has a URL that begins https:// and has an image of a locked padlock in the bottom right hand corner of the browser window.
Following these simple precautions will reduce the possibility of you becoming a victim of credit card fraud. Your bank or credit card company may have further information on minimizing the risk of credit card fraud, so it is worth contacting them or reviewing their website.
