Tips to Prevent Credit Card Fraud
Prevention is key to keeping your financial accounts secure. Here are some things you can do to help prevent scammers and thieves from making a mess of your credit and bank accounts.
Safeguard Your Credit Cards
- Credit cards, just like driver's licenses or Social Security Numbers, need to be handled with care. Never allow a clerk to walk away to process a transaction out of your sight. Personally carry your card to the register and wait until the purchase is completed.
- Don't carry all of your credit cards in your wallet or purse. Choose one or two and leave the rest in a secure place in your home.
Protect Your Account Numbers
- The safest purchases are those that you initiate. Never make a purchase from a phone solicitor or an email advertisement, unless you have requested the call or information.
- Legitimate looking e-mails that claim that your account has been jeopardized and require immediate action are phishing scams. If you provide the requested personal information, you will be the next victim of identity theft. Legitimate companies will contact you for your account or personal information; they already have this data on file.
- Never carry your account number in your wallet or purse. Don't use it as identification on your check payment envelope.
- After verifying your monthly statement with your purchases, shred them. Keep your credit card receipts until they have been verified and shred them, as well.
- Prevent access to the security code on the back of your credit cards. These are used by some merchants to verify that the card is in your possession when you make a purchase by phone or over the Internet. If your card number and expiration date were stolen, but not the card itself, the thief would not be able to use your card without the code, if it was required.
Applications and PINs Make You Vulnerable
- Credit card solicitations should all be destroyed; they often contain personal information that can cause havoc when they fall into the wrong hands.
- Don't neglect to sign the back of every credit card you receive.
- Memorize your personal identification number (PIN).
- Be aware of those around you when using an automatic teller machine (ATM). Shield the key pad when entering your PIN.
Monthly Statements / Records
- Keep detailed information about all your credit accounts - numbers, expiration dates and contact information.
- Watch for authorized, automatic payments on each monthly statement.
- Compare all purchases with your account statement upon arrival.
- Report any errors to the credit card company immediately.
If you believe your account has been compromised, call the toll-free number on the back of the card or printed on your monthly account statement. Credit card issuers are as interested as you are in preventing theft and fraud.
Questions and Answers
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