Whether it is credit or cash, you do not want to have your finances compromised. One of the most common credit card frauds is theft and it varies from low-tech crime to the high-tech guys hacking into classified systems. From the simple case of a thief getting your account details from the billing statements used in purchasing items after going through your trash, to the website of your bank getting hacked, or even a fraudulent clerk or waiter getting hold of your credit card details, there are a number of ways through which your credit card can be compromised.
Tips to Avoid Fraud
To avoid credit card fraud situations, there are some practices to be followed. The first tip is to have a record of the necessary details of your credit card–information that would include the account numbers, expiration dates of your cards, and the phone number to report a case possible fraud.
Avoid lending your card to anyone–not even your most trusted friends or relations–and keep your cards safely out of sight. Never leave your cards, billing statements, or receipts around at home or in the office. And when your card is no longer needed, make sure you shred it before throwing it away.
Other tips to keep your credit card safe and free from fraud are listed below.
- Never give out the details of your account to anyone over the phone unless you have been able to confirm the authenticity of the company. Check for reviews from past customers if you are a new customer.
- Try as much as you can to avoid keeping your card in your wallet and avoid carrying cards that you might not need for each particular outing.
- Always have your eyes on your card when making a transaction and be sure to get it back before turning your back.
- Do not sign a blank receipt and ensure to draw a line through all blank spaces before the total.
- Compare your statements with your receipts.
- Regularly check your bills online and reconcile with your purchases.
- Report any charges that you cannot clarify to your credit company.
- Inform your card issuers when you change addresses or travel.
- Avoid writing your account details on the back of an envelope.
The tips listed above will help safeguard your credit card from fraud. If you ever lose your card or suspect a fraud, immediately notify your issuer to take appropriate action.