Credit card fraud is the illegal and unauthorized use of credit cards to obtain goods without paying for them or obtain funds from an account through cash transactions from account not owned by the user. Credit card fraud can occur in numerous ways from low tech dumpster diving to high tech hacking. In today’s information age and high tech wave, your credit card information is at risk of theft which can easily be used for fraud. As it has become easier and quicker to use credit cards for transactions, so also it has become quicker to be a victim of credit card fraud.
Introducing a few practices into your daily routine can help keep your credit card and account safe from fraud. Some of these practices include:
1. Avoid giving your credit card number or account details over the phone or to anyone you do not know, unless you have made a call and are aware they are reputable or from a reputable firm.
2. Treat your credit card as you would treat your cash. Try as much as possible to keep your credit card safe as your credit card lying loosely around is an easy target for fraud.
3. When going out ensure that you only go out with the card you would be using and any card you would not be using should be left at home.
4. Try to place your credit card in a different purse or wallet. This would ensure that when the purse or wallet you frequently use is stolen, you wouldn’t run the risk of losing your credit card also.
5. After a card transaction, shred anything with your credit card billing statement. Do not just toss them into the trash they could be gotten easily by dumpster divers who could then use them for fraud.
6. Do not sign blank credit card receipts. Ensure that you verify the amount on the receipt before signing.
7. If you get a blank receipt and you have to sign it, draw a line across where the amount should have been, before signing it.
8. Report lost or stolen cards immediately. The sooner you report a missing credit card, the faster the credit card issuer can cancel your credit card which would ensure that you do not fall victim of credit card fraud.
9. Review your credit card billing statement each month. If possible keep receipts from using your credit card during each month and compare them with your billing statement for the month.
10. Make your credit card password or Personal Identification Number (PIN) unique and strong. Do not use numbers or names that can be found on your wallet, as this can be easy to guess. And it would be wise to change your password or PIN regularly.
11. Be careful on how you give out your credit card details online especially when making an online purchase. Shop with a reputable online firm and always remember to log out after you are done with your purchase session.
12. When making a transaction using your credit card, always keep an eye on your credit card and make sure you get it before walking away.
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