fraud

How to Protect Yourself From Credit Card Fraud

Did you know that there are people out there who do credit card fraud for a living?

Cybercriminals are not only active in third world countries but are also present in the west. Some of them also collected hundreds of credit card numbers and sell them to attackers located offshore. If you are not diligent enough, you might become their next victim. This post is all about protecting yourself from credit card fraud.

Here Are the Best Ways to Protect Yourself From Credit Card Fraud

1) Make Sure the Website You Are Shopping From Is Secured

According to a stat by OptinMonster, 1.92 billion people shopped at least once in the year 2019. It would be safe to say that online shopping has become a norm and will continue to be so in the upcoming years. 

While shopping online, it is important to check whether the website address is prepended with HTTPS. HTTPS is a communication protocol that ensures that the data is transferred over a secure connection. 

2) Set up Alerts

I understand that it can be annoying to receive a ton of promotional text messages and emails from your credit card company. But turning off the alerts can put you in major trouble. Alerts are intended to keep you informed about the transactions carried out on your account. If you ever receive a text message informing you of a transaction you did not perform, the first course of action should be to contact your issuer.

3) Get Insured

If you have credit cards with a high credit limit, you should not take a risk. If an attack is to happen, you may or may not be able to afford the loss. Fraud Protection Insurance safeguards you from almost all kinds of forgery and scams. 

If you lose your wallet with all your credit cards in it and the thief manages to make transactions before you have a chance to inform your issuer, the Fraud Protection Insurance company will cover for the expenses. 

4) Use an RFID Blocking Wallet

Attackers are getting smarter and more diligent. Even with all your efforts to protect yourself from credit card fraud, you can end up becoming a victim. Especially, is the attackers in your city are using the Radio frequency identification (RFID) skimming technique to steal information stored on your credit card. It is understood that an RFID wallet can shield such devices from getting access to the card. 

5) Do Not Accept the Offer Increase the Credit Limit

If you have been using a credit card for more than a year you would know how the issuer tries to lure into increasing the credit limit. Surely, there are a few benefits to it but when it comes to safety, it is a good strategy to have multiple credit cards with a low credit limit. 

Summary

The maximum number of credit card scams are conducted via phone calls. If anyone calls you pretended to be calling from the bank or your credit card company, simply block that number without giving out any personal information.

One thought on “How to Protect Yourself From Credit Card Fraud”

  1. Thank you for the tips. It’s really scary because it almost happened to me. My wallet was stolen and my cards are there. Good thing I managed to notify my bank right after.

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