Credit Card Frauds And How To Avoid Them

There are some simple steps that you can take to minimise your risk of credit card fraud:

• When you receive your credit card always check that it is sealed and that the seal is not tampered with.
• Sign on the back of your card immediately after receiving it.
• At times, monitor your credit card account, either on the Internet or through call centres.
• Subscribing to email and mobile alerts will make tracking of card usage easy for you. Wherever you use the card, always ensure that it is swiped in your presence.
• Always keep track of your transactions while you travel, be it within or outside the country.
• If possible, avoid using your credit card at cyber cafés and wherever there is wireless connection as the information you provide over the Internet for your credit card could fall into wrong hands as the Internet connection at such places are always or most likely monitored.
• Always keep the card account numbers and the PIN numbers in a confidential place to avoid misuse of your credit card.
• Keep checking your credit cards from time to time to ensure that none are missing.
• Make sure you destroy and dispose all documents mentioning the card number, such as copies of airline tickets, bills, travel itineraries, etc., so that nobody can misuse the information.
• If you receive an email or a phone call informing you about suspicious activity on your account, give no information over the Internet or phone. Instead, take down the credit card representative’s name and call him/her back at the customer service numbers given to you by your credit card companies.
• Keep a track of your most recent credit card transactions. You should be able to tell a customer care company representative what your last five transactions were.
• Also, it is a good thing to be on the lookout for small, unusual transactions. Sometimes, the bad guys might test an account at a place like a convenience store or at a petrol station.
• If a carbon paper is used during a credit card transaction, immediately destroy it after use. For there are chances of somebody misusing it to forge your signature.
• Never ever respond to any ’scam’ e-mails requesting your credit card number and other information.
• If your card is lost, stolen or you suspect fraudulent use, call your company’s 24-hour hotline immediately to block your card as soon as possible. The company will block its use, and you won’t be responsible for any charges made by thieves after you have reported it to the credit card company.
• Always destroy your old cards by cutting them into pieces.
• If possible, choose a credit card that includes your picture and signature at the back of the card as this is a good way to discourage misuse of your card.
• Always ensure that your personal details are up to date with your credit card company. This is to ensure that the credit card company can call you as soon as they see any suspicious pattern of charges on your credit card.

By taking all these steps you can help prevent misuse of your credit card to a huge extent.