Simple tips to prevent credit card fraud

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Simple tips to prevent credit card fraud


Updated: September 27, 2018

The content is accurate at the time of publication and is subject to change.

Every year, a number of people from various parts of the world fall prey to credit card fraud. The improvements being made in the field of science and technology has only made it easier for criminals to steal critical credit card data that can be later used for various purposes. Hence, it is imperative for all of us to be careful with credit cards and keep a few tips in mind to prevent falling prey to credit card fraud.

Shred credit card receipts

Did you know that the credit card receipts you get after any transaction comprises of critical data that can be misused? Some of the important data that are present on most of the receipts are the card number, name of the card holder and the expiration date. It is important to store these receipts carefully if you intend to refer to them at some point in the future. If not, it is recommended that you shred the receipts at the earliest. Leaving the receipts unattended can prove to be costly and can set you back by hundreds of dollars.

Destroy old cards and sign new cards

When the card expires, it is important to cut it to pieces to prevent misuse. Banks generally send the replacement card a few days in advance to ensure continuity of business. Whenever you receive the new card, ensure you sign on the strip at the back to prevent it from falling into wrong hands.

Never reveal your PIN

If you are using the credit card to withdraw funds at an ATM or to perform other transactions, ensure no one is looking over your shoulder. It is always better to cover the number pad with one hand while you input the PIN with the other. This prevents the cameras or the “shoulder surfers” from fudging this number. Do not share this number with anyone at any point of time.

Be careful while shopping online

An increasing number of websites offer customers the chance to shop online from the comfort of their homes. This convenience comes at a price. There are a few websites that do not offer proper encryption for credit card data, thereby putting you at risk. Choose websites that start with https:// since it represents an extra level of protection.

In addition to all this, make sure you review the billing statement on a monthly basis and report any fraudulent transactions immediately. Block your card immediately in case you lose it or it gets stolen. These simple tips can go a long way inensuring protection for your credit card.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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