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Because credit cards are so easy to use, and carry around, they are popular among people today. Because of their popularity and widespread usage, credit cards, like money and checks have become vulnerable to thefts and unauthorized use. Because of very confidential and sensitive information like social security number and other identification connected to the credit card account, if a credit card is stolen, the card holder is vulnerable to identity thefts. Identity thefts can be a lot more serious than credit card thefts, because stolen identities can be used to raise a loan account, and worse, even unlawful purposes.
Credit card unions have a number of security measures in place to protect their customers from identity thefts and credit card thefts. Services like credit card authentication, identity verification, and verification of transactions involving big amounts of money can protect both account holders and commercial companies from fraudulent use of credit cards. Card holders are immediately notified of any suspicious activity on their card, so that they can verify with the credit card companies.
Credit card companies can also be reported of stolen credit cards, upon which they will immediately cancel the card and all the account information related to the card is made unavailable online. This can help a great deal to curb unauthorized purchases and identity thefts. Credit cards are more prone to thefts while the card holder is on travel. Credit card companies must be notified of any international travel, and can be requested for special security services to protect the card. There are many companies providing security for credit card holders, at a monthly fee, or a onetime fee. These companies take care of every step needed to protect their customers from identity thefts by safeguarding their personal information, financial documents and so on.
Along with all these steps, the card holders should be cautious to protect their cards from thefts. Any sensitive information like bills, statements, and other such offers from credit cards must not be discarded without shredding. These will contain all the information about the card holder like the billing address, card number and account profile. Also, The Card verification code, which is the number given to every card for security and authentication, should not be displayed in public or written on a paper and left unguarded. Information like card numbers, pin numbers and the likes should not be supplied to the website without authentication certificate, or over the telephone without verifying.