Imagine getting billed for some fraudulent transactions made using your credit card. What should you do? First of all, you obviously need to inform your card provider.
But isn’t it better to take precautions rather than falling in such a situation? In the present digital age, the information of your credit card is at theft risk.
Luckily, you can try to avoid frauds on what you consider to be your best credit card by safeguarding the information related to your credit card. Beware of the scammers who might make an attempt of tricking you in giving away your card details.
Take a look at these simple ways of protecting your credit card from frauds.
1. Keeping the Credit Card Safe
Protecting your credit cards from thieves is amongst the easiest ways of avoiding fraud on it. Place your precious credit cards inside the wallet/purse. Keep it close to yourself such that it won’t get snatched away that easily.
In case you are shopping in a very crowded area, you can carry a little purse as it is difficult to sneak into or steal. It is recommended for both women and men to carry just one or two debit and credit cards that they would be using for shopping. Leave the other cards at home.
The thieves may manage to click a picture of the card through their phone or camera, hence you should never leave your card exposed in public any longer than required. Recheck that you have the credit card in your possession while leaving the outlet or store. While you may have managed to avail various credit card offers, but only you can take care of the protection of your card and its offers.
2. Shred Everything which has the Number of your Credit Card
Do not dump the billing statement of your credit card into the trash directly. The entire card number is generally printed on these statements. In order to prevent the dumpster divers to get their hands on this number, you should tear or shred the statement before dumping it.
Remember the same thing in case of expired or canceled old credit cards. You can also consider putting the various shredded pieces in separate dust bins for those super eager robbers who may put an effort of joining the torn apart pieces of the statement together.
3. Do not Sign any Blank Receipt of your Credit Card
Make sure that you check the amount mentioned on the receipt of your credit card before you put your signature on it. You may have the best credit card, but its usage should be best too.
What to do if you receive a receipt which contains blank spaces on it? In this situation, you should either draw through these spaces or write AED 0 in them before you sign the receipt.
If you fail to do so, the cashier or someone else who gets access to the receipt may fraudulently write an amount on it and send across the purchases to your provider.
4. Avoiding to Give Out the Information of your Credit Card
Give away the credit card details or other sensitive information for that matter only on the phone calls that you have initiated. While reaching out to the customer care of your card provider, call on the number that is mentioned on your credit card’s back.
Avoid calling back the suspicious numbers left on the answering machine or has been sent via text message or e-mail. It is not easy to identify a fake number that could have been a scam.
Do not just give out your credit card details to any other person who asks for it. The credit card fraudsters are known for posing as providers or other business associates for tricking you into providing your card details.
5. Use the Credit Card Carefully Online
Amongst the various credit card offers, one is online banking access. However, you need to be cautious with this facility. Make sure that you do not click on the e-mail links sent by anyone that seems to be your credit card provider, bank or business that makes use of your personal details. This must be ensured even if the mail looks genuine.
Such links are generally phishing scams. The scammers would want to trick you to enter the login details on the fake website they have created. You can go directly on the website of that business for logging in to your account to be on the safer side.
Ensure that you are very careful while using your card online. Put your card details only on those websites that you are sure of being legitimate.
6. Reporting the Stolen or Lost Credit Cards Instantly
The more quickly you report your missing credit card, the faster your provider or bank can cancel it and prevent any fraudulent activities to take place. You should keep a note of the customer care number of your credit card company so that you have them even if you ever lose your card.
Informing the provider about stolen or lost credit card on time may reduce the chances that you will have to suffer financially due to any fraudulent activity done on your card.
7. Reviewing the Billing Statements Monthly
Any unauthorized charge on the credit card is the initial sign of a fraud. In case you come across a charge you have not made, regardless of the amount, instantly report such charge to your provider.
The credit card provider will suggest if you will have to close the account or just opt for a fresh account number for avoiding fraud on your best credit card.
8. Making Strong Passwords and Keeping Them Safe
It can be the case that your card number is stored on various platforms online. Hence, you should ensure that you are using a strong password that includes smart combinations of lower and upper case characters as well as numbers and signs. You must strictly avoid sharing or writing these passwords.
9. Checking the ATMs and Gas Stations for Card Skimmers
Those you wish to access your credit card fraudulently may put the devices for credit card skimming on the card readers at ATMs or gas stations.
With the help of these skimmers, the thieves get the card details. Skimmers are generally put on the regular card swipe machine. Hence you should not swipe your credit card on such machines if something seems to be off.
To Sum Up!
The frauds on credit cards are becoming common these days. Especially if you travel a lot and use your credit cards for earning miles and points, you must understand how card frauds work.
But, is it enough to just be aware of the frauds?
When was the last time you updated your contact number and e-mail ID with your card provider? A lot of you won’t even bother to do that. In order to protect your card, it is important to keep your information updated with your provider.
You should know some easy ways of protecting yourself and your credit card from the fraudsters in the market in order to maintain your best credit card, best for you. Read the above-mentioned points to know how to safeguard your credit cards from any kind of fraud.