The enormous advantages offered by credit cards have made them highly popular amongst people looking for cashless transactions. The advancement in technology has made online credit card transactions easy and simple but at the same time exposed people to fraudsters. Does that mean that credit cards should be avoided? No, instead identify ways to protect your credit card from fraudsters. Here are some simple ways in which credit card frauds can be prevented:
Keep Your Cards in a Safe Place
Many credit card frauds occur via their misuse. This can be prevented by storing your credit card in a safe and secure place. Since you need to carry it with you while shopping or travelling, keep it in the inside pocket of your purse or wallet. Also, ensure that you have taken your credit card back after using it in a mall or a shop and kept it back in the purse.
Destroy Old Cards and Statements
To avoid theft or misuse of your credit card by fraudsters using your credit card number, ensure that all old cards and credit card statements are destroyed carefully. The best option is to cut the card or the statements into not one but several pieces and dispose them off into separate trash cans.
Avoid Providing Information to Unknown Callers
One of the most common credit card scams is fraudsters calling you and trying to convince you to provide them with sensitive information related to your credit card. Do not fall into the trap and never provide any details related to your credit card over the phone or personally. In case of any queries always call the bank’s official call centre number. Again, never click on links sent on email even though they may look legitimate. Always check with your bank’s call centre about such links.
Keep Strong Passwords or Pin Numbers
A strong password or pin can help you prevent credit card frauds. A strong password is generally a combination of characters in upper and lower cases, numbers, and special characters. You should also avoid writing down your passwords to avoid their misuse.
Look Out for Credit Card Skimmers
Another trick widely used by fraudsters is the placement of credit card skimmers at an outlet which allows them to copy your credit card when you use it there. This can be avoided by being vigilant and looking carefully at the machine and not swiping your card if anything appears out of the place.
Credit card frauds can be avoided by ensuring that you use them to carry out online transactions only over a secure internet network. Another way to avoid frauds is by using the credit card yourself and not sharing it with anyone else or allowing anyone else to use it on your behalf. Always report the loss or theft of your credit card immediately and get It blocked to avoid any kind of misuse.
When you apply for a credit card, you can also check about the credit card protection feature offered by the issuer bank.