Avoid Any Kind of Credit Card Fraud with These Steps
Credit cards are generally easy to use, not to mention they also give amazing offers. Unfortunately, it has been widely known that they often have security issues. Credit card fraud has skyrocketed in the past few years because hackers and thieves are getting smarter and smarter. All you need to do is outsmart them and thank God, there are actually many ways to protect yourself from any kind of credit card fraud.
Unlike in movies, credit card fraud is not done by high-tech hackers. In fact, almost all fraud is caused by negligence, such as leaving an unlocked smartphone and intentionally or unintentionally mentioning the card number via cellphone.
Here are some ways you can do to protect yourself:
- Keep an Eye on Your Credit Card
Never leave your credit card unattended in the hands of others. Thieves only need a fraction of a second to swipe your card in the scanner or any other device that can steal your card's digital details. Even a few minutes are enough for them to use the old-fashioned method by recording your card number, expiration date, and 3-digit security. As a result, they can easily sabotage and use your card to make transactions.
In a restaurant or shop, make sure that you are there when your card is swiped. Do not let the waiter or sales assistant take your card when you do not see it, then return it later. If you forget to put the card, immediately contact the bank and ask them to freeze your card. The bank can reactivate it later when you have found your card.
- Keep Your Credit Card Information Only to Yourself
The most common way to steal credit cards is through a scam. For example, you might receive a call that claims you won a new tablet even though you do not remember joining the contest. They only need your credit card number to pay a small shipping fee which is a few dollars. If you disclose to them your credit card number, you will find an unknown expense on your credit card.
If you are on the brink of being scammed, suspect whatever company is calling and asking for your credit card number. Companies usually do not handle transactions like that. Usually, the fraudsters will direct you to a website where you are asked to type in your card number. If you are unsure about it, then close the phone.
- Shop Wisely Online
Be careful with the website you are shopping on. Some websites are specifically made to steal credit card numbers when you enter them in the payment portal. Some signs that need to be considered are:
- The website uses a strange or complicated URL. Professional websites will opt for clear and easy-to-remember URLs, such as ezbuy.sg, lazada.zg, and shopify.com. If you find a URL like http://www.restock-buy-iphone-4-cheap-sg-1045t5/sgx/, then stay away from it.
- The product list contains a mixture of words that do not make sense if you think about it. For example, you find a list of products such as Angry Birds Adidas/NIKE Men and Women Bracelets.
- The website is full of typos and grammatical errors. This is usually a result of using direct translation tools. If you visit an official brand website like Gucci or Chanel and see a typo or grammatical error, it must be a fake website because the original company will not tolerate any flaw on their sites.
- The price is very unrealistic, for example, 100 USD for a brand new iPhone.
Our advice is to use trusted shopping websites that work with trusted and authentic merchants to provide a safe shopping experience. Even if you are shopping on a trusted website, avoid saving your credit card details. In case there are hackers trying to hack your account, the stored credit card data will not be able to be obtained.
- Set a Credit Card Payment Alert
Make sure your credit card alert feature is always active because this feature will send a message to you when a credit card transaction occurs. If you get this warning when you did not use your card, then immediately contact the bank and ask them to freeze your card.
In addition, parents should activate this feature if they allow their children to play games on their smartphone or tablet. Some games have in-app purchases and you would not want your six-year-old daughter to spend 2,000 USD on some virtual farm animals game.
- Dispose of Your Credit Card Properly
When you want to renew your credit card, discard your old credit card in the right way. Do not throw your credit card pieces into one trash bin because a persistent thief will likely rearrange the pieces together in order to get your card number. A faster way is to burn your credit card. However, be careful not to burn other items.