Credit card fraud is a type of identity theft where a thief or hacker gets a hold of your credit card information and makes unauthorized purchases. In some cases, these purchases could be for thousands of dollars.
Although many major credit card carriers do a good job with identifying fraudulent purchases and working with members on resolving issues of fraud, it can be a tedious process from start to finish.
Furthermore, protecting yourself from fraud really is your responsibility and not that of the credit card company. Plus, there’s no guarantee that every case of fraudulent purchases will end up in your favor.
Instead of being reactive to a situation like this, it’s important that you take a proactive approach to preventing yourself from becoming a victim of credit card fraud.
The following is a list of expert tips to help you prevent credit card fraud:
Get a Card With a Chip and PIN
This may sound obvious, but some people still carry credit cards that are outdated like the ones without chips on them. These types of cards are easier for thieves to steal your information.
A card with a chip and PIN make it harder for hackers or thieves to get your information. Furthermore, you don’t have to swipe a machine or expose the entire card number when you have a chip that can be easily read.
Pick a Unique PIN and Don’t Tell Anyone
Make sure you pick a PIN that’s longer and more complex. Smaller PIN numbers or PINs that you use on numerous accounts are easier to hack and steal.
Furthermore, don’t tell anyone your PIN. It may sound silly, but sharing your PIN with friends and family makes it easier for someone else to steal your information.
Watch Out for Skimmers
These devices are planted on ATMs, gas pumps and other locations to steal your information from the data on the magnetic strip of your credit card. Always be aware of your surroundings. If possible, go inside to pay or get money, use cash at the pump, and make sure to thoroughly check the area.
Beware of Scams
No reputable government agency or business will ask for your credit card information via phone, email or text. In most cases, when someone is doing this it’s because they’re running a scam and trying to steal your information.
If you aren’t 100% sure that the business or individual is legitimate then don’t give your personal information out.
Don’t Use Unsecured Websites
Unsecured websites are easier for hackers to attack and steal your information. Make sure you use websites that have HTTPS at the front of their web address as these sites are more secure and harder to hack.
Don’t Save Card Info Online
Even if it’s a company that you trust, don’t save your credit card information with the site or through your browser. Data breaches happen more frequently than you know and if you leave your card information stored on their site then it’s prone to be stolen during a breach.
Don’t Use Your Card on Public Wi-Fi
Last, but certainly not least, don’t use your credit card information on a public Wi-Fi. These public hotspots are breeding grounds for hackers. They’re unprotected and easier for cyber thieves to steal your personal and financial information.