Basics of Credit Card Protection
Just about every consumer has at least one credit card. In fact, most consumers have multiple credit cards. It should be noted that credit card fraud and identity theft are similar, but they are not the same thing. Identity theft involves an individual using a consumer’s identity fraudulently to open new accounts, purchase items or start new contracts. Credit card fraud involves an individual stealing a consumer’s credit card information to make purchases on their existing credit card accounts. Though credit card fraud and identity theft are not the same, credit card fraud often can lead to identity theft. Here we discuss ways to prevent credit card fraud from occurring in your name and possibly preventing identity theft in the process.
More often than not, credit card fraud can be prevented. Though most consumers are aware of the credit card protection basics, there are still many other lesser known strategies that consumers need to be aware of if they own credit cards. Some of those can be:
Where is Your Card?
Always know where your credit card is at all times. When you give it to the waiter at a restaurant, watch where they go with your card and ensure that it is brought back right away. When a card is out of the owner’s site that is when the credit card owner becomes the most vulnerable to forms of credit card fraud. It is quite simple for a thief to swipe a card through a credit card reader and steal account numbers without the consumer ever knowing.
Multiple Swipes
Though it can happen just as a common read error, often when you are using a card scanner you have to swipe multiple times. Though this can be harmless there are times that that second swipe is because a card thief is using that system to scan your magnetic stripe on your card and steal account information. If for any reason a card reader is not working or you have to scan multiple times, ask the clerk why.
Unsecured Websites
Though it tends to go without saying, never use your credit card or bank information on a website that is not secured. Unsecured websites mean that anyone can access the information. Look for the padlock symbol as well as the web address starting with “https” to ensure you are on a secure site.
Carrying Multiple Cards
If you have more than one credit card, it is unlikely you need to carry them all at the same time. Limit the amount of credit cards you have in your wallet to one or two. This can help protect your credit card information in the event your wallet is ever lost or stolen.
Giving Out Card Numbers
When it comes to giving out your credit card number, never give it out over a cell phone connection. Cell phones are unsecured phone lines that can easily be hacked by credit card thieves. Also, often when we are on our cell phone we are in a public place. That means anyone standing around you could potentially hear your credit card information.
Online Shopping
Though a secured website is a safer bet when shopping online, consider using a pre-paid card instead for your online purchases. That way if the card is ever stolen these credit card thieves will only have access to your amount loaded on the card. Be sure that when using a pre-paid card you never have it linked to your bank account. Otherwise it is not a far stretch for the scam artist to go to get access to your banking information.