The use of credit cards have always been attributed to convenience as a means of payment for goods and services albeit via electronic means. In contrast to paper money which bulks when stacked, a credit card’s value is defined by the number of credits its holder can spend which he or she borrows from the bank.
It is so convenient you can pay for good or services remotely via the internet using it – no longer needing to travel to a particular shop just to pay for goods or services. But just like paper money, credit cards are prone to loss, misuse, and theft – the latter two of which, when combined, results in identity theft by getting personal details which can be used via fraudulent means.
As a credit card holder and as a consumer, you have the power and responsibility to protect yourself from the incidence of credit card fraud by employing the following means:
• Do Not Give Away Personal Details
On normal circumstances, this is one of your defenses against identity theft. Do not give away personal details unneededly such as credit card number or similar information critical to your financial accounts.
Doing so not just puts your credits at risk, you are also giving away your identity – a risk regardless who is prone to. Be wary of whom you are giving your information to, even on close friends, family, or at online.
• Add Extra Layer of Protection
There are already many various ways thieves employ to skim on your credit card details – some high tech, some not so. But among these techniques, the use of skimming devices have been the most concerning as it leaves our credit card details most vulnerable anytime.
When used similarly as a scanner would make a virtual copy of something, a skimming device can read through your credit card’s magnetic strip which gathers info from it when scanned over, even in its most secure places as they are carried – bags or wallets.
It is like a see-through device that only sees details printed on your credit card’s magnetic strip. To protect yourself against this, some advises enclosing your credit cards with aluminum foils when not in used.
• Employ Needed Safeguards
Automated Teller Machines are nowadays known to have flaws in its system which a good computer system hacker can bypass by attaching tools in it without the need for a malware to do its bidding. While the same can be said regardless of where the ATM is placed, ATMs situated within the bank itself is said to be more secure than those placed elsewhere, often because of the security guards who are always on the lookout on people who uses the machine.
This prevents such hackers from ever attaching things on it, let alone mess with it. To ensure overall protection, always cover your hand with another when manually keying in your PIN just in case there is a camera attached to the ATM that sees your hand keystrokes.
• Report Cases of Credit Card Fraud
If all else fails while employing the suggestions above, your best solution to the problem is to report the case to the bank which offered the credit card as soon as possible. This prevents further harms to your credit accounts while also giving notice to your case.
Preventing credit card fraud is one of your responsibilities as as a cardholder. Though your card company do their part to avoid fraud, you have to do the utmost prevention not to fall as a victim of fraud.
By following the examples given above, you can be sure that you can prevent criminals from taking your credit card information. When shopping online, make sure not to buy with unknown sites and as much as possible don’t type your credit card numbers directly to the shopping site.
One way to do it is by using PayPal as a payment method. Most online shopping sites accept PayPal so you don’t have to input your card details every time you buy something online.
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