Identity theft is all too common this day in age. It seems like the problem is growing to new extremes. As a major facet of identity theft, credit card fraud is also largely preventable by taking basic precautions and using good financial common sense. Read on for a few of the most effective ways to avoid credit card fraud completely.
Keep Your Digits to Yourself
Don't let anyone borrow your credit card or have access to your credit card number. A large amount of credit card fraud happens simply as a result of not paying close enough attention to who is doing what with your card. Keep tabs on who has your card and for how long. For example, most of the time at retail stores and even at restaurants you can see what's going on with your card. If at all possible, watch to make sure no one is "mishandling" your credit while processing it.
Destroy Old Receipts
Even though it is now a law in many places that transaction receipts must not display any more than the last few digits of your credit card number as part of the print out, that's really no guarantee that your personal and credit card info is not still there. Make sure none of the receipts from the use of your credit card are left behind for the next person to see. It's best to destroy old receipts by shredding them once they're no longer needed.
Shred Credit Card Applications
Think about how many credit card applications you receive by mail in the course of a month or so. Each and every one of these is practically an invitation for fraudsters to take advantage. They can get them right out of your mailbox or even the trash and fill them out to obtain their own credit card under your name in no time at all. To reduce your chances of becoming a victim, check your mail as soon as possible every day and be sure to shred all unwanted applications before discarding them.
Only Do Business with Secure Websites
The web has a reputation for being sort of the Wild West when it comes to credit cards. The perception is that information is stolen routinely and identity thieves are abundant. While it's always better to be safe than sorry, this notion of online lawlessness is largely a misperception. In fact, when doing business with reputable businesses online, your credit card info is probably even safer than it would be in a typical offline transaction. Just make sure the connection is secure (look for the padlock logo in your browser) and that you completely trust the company you're paying.
Review Your Statement
Often considered a last resort when taking steps to avoid credit card fraud, reviewing your account statement line by line is also a surefire way to catch any misuse of your card before it's too late. Simply by reporting any misuse to your card issuing bank, most liability is averted right then and there. On the other hand, choosing to just pay the bill without looking at the charges listed is a great way to be an ongoing victim of credit card fraud.
Knowing how to avoid credit card fraud is mostly accomplished by being aware of how fraudsters practice their trade, but even more so, by taking easy, basic steps to protect your identity. Don't allow yourself to be a victim!
Avoid Credit Card Fraud
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Credit Card Fraud
Preventative Measures For Credit Card Fraud?
If you've ever been the victim of credit card fraud, then you know just how traumatic it can be. What's more, if not detected early enough, it could leave bad marks on your credit report that could haunt you for years. The most commonly thought of credit card fraud is when your wallet or purse is stolen, and the thief uses your credit cards to make unauthorized purchases.
But, with the rate on online buying growing at an amazing rate, another form of credit card fraud?known as misappropriation'is spreading like wildfire. All that a thief needs to create havoc on your credit life is your credit card number?not your actual card.
Here are a few ways that this type of theft can happen:
* One day you get a phone call, and the person on the other end of the line tells you that they have a special offer?usually good for only a day or so?and that you simply need to provide them with your credit card number to make a purchase. The solution? Don't ever give out your credit card number to anyone who calls you. Only provide it if you have called the company to place an order, and you are positive that it is a well-established reputable business.
* You are shocked to find that someone has gone through the bags of trash that you set outdoors for the early morning trash pick-up. A few days later when you receive your credit card statement, there are dozens of unauthorized charges. The solution? Always tear up your credit card receipts and bank statements before putting them in the trash. Many thieves go through unguarded trash bags specifically looking for these papers.
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* You go out to eat in a restaurant and pay the bill with your credit card. On your next credit card statement, you notice that there are unauthorized charges that started the same day as your restaurant meal. It turns out that the waiter made an extra imprint of your card when he rung up your bill, and then used the number to go shopping. The solution? Many restaurants have placed their credit card processing centers in plain view of the customer's sight to combat this problem. If not, you could follow the waiter to the charge station, and watch him throughout the process. It's also important to make sure that they know that they are being watched.
So, what are some other measures that you can take to make sure you aren't a victim of credit card fraud? Here are a few suggestions.
* If possible, it's a good idea to carry your credit cards and other bank information somewhere other than your wallet or purse. That way, if a thief nabs it, you will be out only your cash?not your credit cards.
* It's also smart to only take with you the credit card that you intend to use that day?leave the others at home.
* Be sure to have a list in a safe place that lists all of your credit cards, the numbers and contact information of the issuing company. That way, if you are unlucky enough to lose them, you'll have the information necessary to contact them as soon as you notice the theft.
* Never sign a blank receipt, and always be sure to cross out blank lines. For example, if you bought something that didn't require a tip, cross out the tip line so nobody can add to it later.
* If you buying online make sure that you do so via a secure site.
* If you move, report your new address to your credit card issuer immediately. Some thieves look for moves, and then watch the mailbox of the old house, hoping that they can intercept a credit card statement.
By following the above suggestions, you will greatly reduce your chances of becoming a victim of credit card fraud!
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