Credit Card Fraud Comes In Many Forms
Credit card fraud can happen anywhere at any time. No matter where you reside or what time it is, you can be struck with credit card fraud. Nowadays, credit card fraud is very common. It happens every day and that too in different ways.
Although, you cannot always prevent such scams from happening, you can definitely create a few obstacles, which can make it hard for the fraudster to get your credit card and its details. One of the major ways through which you can protect yourself from credit card fraud is to treat your account numbers and credit cards like cash.
This way you can prevent potential misuse of your financial details. Other than this, there are many other ways through which you can avoid getting into credit card scam. But, before you learn about those methods, let us first know how credit card fraud happens.
How does credit card fraud happen?
One of the most common forms of credit card scam is theft and it can happen in several ways, ranging from high tech hacking to low tech dumpster. Some of the forms in which credit card fraud can happen are:
- A thief can search the trash in order to get discarded billing statements. From this, he can use the account information of that person to purchase things.
- A cheat can hack a bank or retail website and thus steal and share your credit card number.
- A dishonest waiter or clerk can take a snapshot of your card and thus can use your account to create another account or purchase items.
- You can also get a call giving you a discount on travel package or a free trip. However, in order to qualify for it and to guarantee your place, you have to give your account number and join a club. But, then you see that there are charges on your credit card bill, which you know nothing of and the trip promoters who offered you the deal have vanished.
How can you protect yourself from credit card fraud?
By following some of the methods, you can keep your account numbers as well as your credit cards safe and thus protect yourself from credit card scam. For instance, you can document your account numbers, along with their expiration dates. Moreover, you can note down the phone numbers of each of the credit card issuing companies for reporting the fraud.
All these important documents must be kept in a safe place. Additionally, you must not give your credit card to anybody, not even to your roommates or kids. Do not leave your financial receipts, billing statements, or credit cards around your office or home. And, if you do not need them, then you must cut them up before you throw them.
Other than this, you can follow the below mentioned fraud protection ways:
- Do not give your bank account number to anybody on the phone, except if you have called a reputable company. If you have not dealt with them earlier, then conduct an online research first, see the complaints or reviews of that company, and then only proceed further.
- Carry your credit cards separately and not in your wallet. This way you can protect yourself, in case someone steals your purse or wallet. Plus, you must carry only the credit card, which you require for that day out.
- Do not sign a blank receipt. If there are blank spaces on top of the total amount, then draw a line there.
- When you pay with your credit card in a shop, restaurant, or any other store, do not give your card to the shop owner. Keep your eye on it and ensure that you get back your card before leaving.
By following these ways, you can protect yourself from credit card fraud and thus save your money and keep your financial details safe.