As Technology Has Increased, So Has Credit Card Fraud

Category: Finance.

As technology has increased, so has credit card fraud. Let s look at these more closely.

There are some simple steps that you can take to help protect yourself from credit card fraud. Keep It Close: You should never let your credit card out of sight unless it cannot be helped. The best advice for phone orders is that you make the call. Tight Lips: Never give your credit card number out over the phone unless you are certain you know who you are talking to or ordering from. This assures you that you are talking to the people who are at the number dialed. There are no legitimate companies who call and ask for credit card numbers.

If someone calls you, do not give out your information. The same holds true for emails. This type of credit card fraud has become a global problem. Legitimate companies do not email customers requesting credit card information. This same type of credit card fraud might ask you to go to a website to verify personal information and card information. This is known as phishing( pronounced fishing) .

Do not go there. Sign It: Make it a habit to always sign the back of your credit card the moment you get it. This can help avoid future credit card fraud should someone take the application from your trash bin. Shred It: If you get credit card applications that you are not planning to apply for shred them immediately. Secure Sites: When giving out information on a website, make sure the site is secure. Protect the PIN: Keep your PIN in a place that is not near the credit card.

You should see a small lock icon on secure pages. Do not write your PIN( Personal Identification Number) on the back of the card. You should also include the contact phone numbers and addresses of the card issuer. Record: It is a good idea to write down all of your credit card account numbers and the expirations dates. Keep this list in a very secure place where no one else can get to it. Be Prompt: One of the best defenses against credit card fraud is to open your statement as soon as you get it. Use it in case of fire or flood damage to your home.

Look for any unauthorized charges. Be Tidy: Anything with your credit card information on it should be destroyed as soon as you no longer need it. If you find unauthorized charges report those charges immediately to the credit card issuer. If you cannot destroy it, place it in a secure box. Make sure you get the carbon copy from the vendor and that you either destroy it or secure it. Cut the Carbon: Carbon copy paper is not used much anymore but you still see it in some places. Notify: If you are planning to move, notify the issuer in advance and make arrangements for your mail delivery during the transition.

You should also contact the Post Office. You do not want your statements arriving at the old address. If you suspect credit card fraud, contact the issuer immediately. Keep in mind that in cases of credit card fraud much of your liability is determined by how fast you contact the issuer. Most companies have a toll free phone number you can use for this. According to federal law, once you have reported the loss or theft of your credit card, you are not responsibility for unauthorized charges.