Credit card fraud is rife these days and no, its not all on the internet as many of us think it is. Very often it occurs in a store or a restaurant, even though we may think this not to be possible. Lets look at the facts.
It can be argued that now it is safer to use your credit card on the internet via a secure order form (SSL) than it is to use it in a restaurant, which most people would choose not to believe. This is called “skimming”. So, lets say you have your meal and hand over your card to the waiter for payment. They then take the card and within a minute its back in your possession.
No harm done, right? Well, it could be that the waiter skimmed your card not only for the actual payment but also to take your credit card details and you would not know any the better. The second skim is done via a magnetic card reader which can then be taken away and downloaded onto a computer.
The only way to be sure this has or is not happening to you is to regularly check your card statements. Often thieves will make very small transactions so you are not aware of them, so its wise to go through your statement carefully.
Due to the increase of credit card fraud over the past number of years, banks have in place higher security measures and also better compensation plans for those unfortunate enough to have experienced it.
Nevertheless, here are a few tips to keep in mind when using your credit card:
- any thing other than your credit card statements or any other valuable document pertaining to your credit card you should shred or burn. Do not just simply throw it in the bin and presume it will be safely disposed of
- if you are asked to verify some of your credit card details over the telephone, you need to question this seriously. Who is the caller and why do they need your details and do you trust this person enough to provide the details?
- do not lend you credit cards to anyone unless you trust them implicity
- only carry the credit card or cards that you need and leave the rest in a safe place
- do not leave any credit card slips lying around or do not just simply throw them in the bin
- check all card receipts against your card statements on a regular basis
- if you are moving home then do let your credit card company know well in advance of your move
Simple ways to keep your credit card safe and your money secure, so its just a matter of being aware and remembering just how easy it is to be a victim of credit card fraud.
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