How to Avoid Credit Card Fraud

February 20, 2021

how to avoid credit card fraud

Credit cards are convenient and an easy payment method used all over the world. Credit card use has been increasing year after year, however with this popularity comes increasing dangers of credit card fraud. There are always those who are looking for ways to obtain credit card information for the purposes of fraud.

How to avoid Credit Card Fraud

Keep your receipts

Always ask for receipts whenever you use a credit card. This is an efficient way to keep track of your transactions. Compare your receipts with your statement every month to ensure transactions on the statement reconcile with your records. Immediately report any discrepancies to your credit card provider.

Set-Up Transaction Alerts

Most credit card providers offer this facility. Set-up your card to send you a notification every time a transaction takes place on your credit card. With transaction alerts, you can be sure you will be aware of transactions on your credit cards.

Use caution shopping online

As we increase our online activity, so do the chances of our information falling in the wrong hands increase. Always make sure you are on the intended website before providing your credit card information.

Beware of phone scams

I have a rule that I never provide my personal details over the phone unless I am the one placing the call. When you receive a call claiming to be a bank or a vendor there is little you can do to verify the person on the phone is actually who they claim to be. The best defense is to decline the call and place the call yourself by finding the correct number yourself.

Destroy your confidential documents

Be sure to properly dispose of your confidential documents. An easy way to make sure confidential documents have been properly destroyed is to shred them. If you don’t destroy your documents you are handing your personal information to anyone looking to steal your identity.

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