Credit Card Fraud

Credit card fraud is on the rise, but by following our tips and guides, you can minimise your risk.

Tips for Avoiding Credit Card Fraud

The incidence of credit card fraud is rising alarmingly, but if credit card customers were more aware of what they can do to help prevent it happening to them, it might save a lot of heartache.

The key to reducing the risk of credit card fraud for most card holders is knowledge. If you're more aware of the type of risks you might face, you're more likely to avoid being scammed by unscrupulous people.

Ways To Avoid Credit Card Fraud

1. Report fraud as soon as you suspect it.

Any case of fraud must be dealt with immediately. You need to call your card provider or bank and file an immediate report using a 24-hour number that you have been given. Your card will be canceled immediately and then the company will help you deal with any further matters.

2. Shop safely

When you are out and about shopping there are ways to avoid credit card fraud that you may not have thought of. When the sales assistant gives you back your card take a look at it first to make sure that it is yours before putting it in your pocket or wallet. Also, you should always make sure that nobody sees your pin number whenever you use your card. Try to shield it with your hands. These thieves can be very tricky and use cameras or assistants to watch what number you are keying in for your pin.

3. Check Statements

It's surprising how many people don't check their monthly credit card statements. Yet keeping an eye on the amounts charged to your account can be a quick way to determine whether your card is being used by a fraudster or not.

4. Eyes On Your Card

Never allow your credit card out of your sight at any time. It might be trendy to slip your credit card into the bill-folder at a restaurant to be charged back at the counter, but this could be an excellent opportunity for a fraudster to take advantage of you. This also goes for anywhere you can't see your credit card being processed in front of you.

5. Don't Be Fooled by Email Phishing

Phishing' is the term used to describe a fraudulent email requesting that you click on a link. You‚'e then encouraged to enter your personal details into a website. Your credit card issuer will never ask you to verify your details or to click on a link to re-enter your details. Millions of people every year get scammed this way.

6. Keep your information private

Your bank or credit card issuers should never call or e-mail you for your account information. If you receive such a call or e-mail, call your bank immediately and let them know about it.

7. Secure Online Shopping Sites

Even though most people fear shopping online, it can actually be a little safer than shopping in person but only if you check that you're using a secure website. A secure site used encryption to keep your information safe. Check the address bar in your browser to be sure it says HTTPS:// in front of the address. Also check whether there's a little lock symbol in the bottom right of your browser.

8. Safe Statement Disposal

Buy a cheap shredder from a discount department store and be sure to shred your old credit card statements and bank statements. There really are people willing to go through garbage to find personal financial details like this.

9. Notify Your Credit Card Issuer

Always notify your credit card issuer immediately of a change of address. Be sure your statements and correspondence are being sent to the correct address as quickly as possible.

10. No Sharing

It's never a good idea to share your credit card information with anyone for any reason. There are plenty of people every year who are scammed by family members or friends using their credit card details fraudulently. Even if your intentions are good, make sure you enter your own details and take responsibility for your own card.

As long as you do your job and the card company is watching out for your credit card rewards points card as well, you will have less chance of encountering fraud when doing your Internet shopping. Knowing the information provided above will help you avoid fraud problems in the future.