Credit card safety: 8 tips to help keep you safe
Read this article and learn how to secure your credit card data to protect yourself and your family against fraud.
by Danilo Pereira
Read this article and learn how to protect yourself against credit card fraud
Credit card fraud is a significant problem, costing billions of dollars every year. The risks of credit card fraud can be devastating, so pay attention to your safety.
Criminals can use stolen credit card information to create fake identities, apply for loans, or access sensitive personal data.
Fraudulent charges and transactions are also a major risk, and victims may be held liable for charges if not reported on time.
Credit card fraud can also have a significant impact on a victim’s emotional well-being, causing stress and anxiety.
To protect oneself from these dangers, it’s essential to be vigilant, monitor account activity, and report suspicious charges or transactions promptly.
By doing so, individuals can minimize the risks of credit card fraud and protect their financial and personal well-being.
It’s crucial to take the necessary steps to safeguard credit cards since fraud can have long-term implications on a victim’s credit score and financial reputation.
In this article, we are going to provide you with 8 valuable tips on credit card safety. Read on and stay protected.
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1. Review your account activity
Regularly reviewing account activity is a straightforward way to ensure credit card safety. With options such as using the bank’s app, website, or phone service, it’s easy to keep track of transactions.
Additionally, many card issuers offer email or text alerts to notify users of unusual activity, benefiting both the user and the issuer.
If someone has already experienced fraud or identity theft, it may be worth considering registering with a credit-monitoring service.
This kind of service monitors an individual’s credit reports and accounts for suspicious activity, alerting the user if something out of the ordinary occurs.
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2. Use credit cards with discretion to improve safety
Be cautious when using your card in public. Avoid sharing your account number over the phone unless you trust the bank or merchant you’re speaking to.
Be wary of suspicious messages requesting personal information or prompting you to click on a link via email, text, phone, or social media.
Consider switching to paperless statements and making online payments to minimize the amount of sensitive information sent via postal mail.
Additionally, shred any documents containing sensitive personal information before disposing of them.
3. Be mindful of receipts
Securely file your old receipts and shred any duplicates to avoid exposing your account information.
Check your receipts against your account regularly to quickly spot any potentially fraudulent transactions.
To avoid anyone from writing in additional numbers on your receipt, draw a line through any extra space.
Lastly, never discard receipts without shredding them first to prevent unauthorized access to your account information.
4. Keep your info up-to-date
This will ensure that important statements and documents are delivered to your new location without the risk of falling into the wrong hands.
To further safeguard your financial security, consider signing up for alerts with your financial institution.
This will allow you to quickly receive notifications in the event of any fraudulent activity or suspicious transactions.
Be sure to update your contact information with your bank, including your phone number and email address, so that you can be reached easily if necessary.
It’s also important to understand how your financial institution sends alerts, as you may have the option to choose your preferred method of contact.
Whether you prefer to receive alerts via text, email, or phone call, make sure you are familiar with your bank’s procedures.
Take advantage of all available security features to protect your financial well-being.
Watch your online credit card transactions for your safety
When it comes to credit card safety, there are some additional measures you can take in addition to basic online and mobile safety practices.
For example, make sure to know your merchant when shopping online. Look for websites that use “https” in their web address and the green lock icon.
Additionally, double-check that the URL is the correct company name before entering any information, and only share your information if you understand how it will be used.
Another tip is to avoid saving your credit card number on an online shopping site. Instead, type it in for each transaction.
You can also add an extra layer of protection by using an online payment system. There are also mobile payment services like PayPal, Apple Pay, Samsung Pay, or Android Pay.
Using online payment systems and mobile payment services will keep your account number out of the hands of merchants.
Be cautious when using public Wi-Fi as well. Refrain from conducting any financial transactions, including checking your accounts, while connected to a public network. Others can easily view your information if you do this.
Secure networks and devices
To avoid vulnerabilities, it’s wise to disable the Autofill feature on each of your browsers. Don’t let it store your credit card details.
Additionally, use a digital wallet. Further, use a payment system installed on your smartphone that enables electronic transactions with your credit cards, is worth considering.
Due to the encryption, tokenization and authentication protocols used, digital wallets have the potential to be more secure than carrying a credit card.
To protect your smartphone, set up a passcode and fingerprint where possible, and install an app that can help you locate your phone in case you misplace it.
Immediately report suspected fraud and lost cards
Losing your credit card or experiencing fraudulent activity can be a very stressful situation. It’s important to act fast and contact your bank or credit card issuer immediately.
By reporting the issue promptly, you can prevent unauthorized charges and avoid potential financial losses.
Your bank or credit card issuer can also help you block your card and account number so no one else can use them.
They will investigate the matter and provide you with a new card and account number if necessary.
Remember to keep your bank or credit card issuer’s contact information easily accessible so you can reach out to them quickly if needed.
Finally, it’s always a good idea to regularly monitor your credit card statements and activity to catch any potential fraud or unauthorized charges early on.
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About the author / Danilo Pereira
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