A credit card is an essential part of our lives now. It has made our life easier, buying more viable and feasible. It’s like a magic wand that can buy your desired things. But along with all the ease and comforts, there have been instances where it has to be misused if not handled safely. In India itself, about 30,000 cases of credit card frauds have been reported over the past 2 years. To protect from fraud and cheating, one must use methods to safeguard themselves.
Credit card fraud is not only the illegal and unauthorized use of your credit card to steal goods without paying for them or withdrawing cash from your account, but it is also a crime of stealing your identity and personal details. To avoid being a victim of credit card hacks, one should follow certain guidelines.
You have to be careful to never reveal your credit card details to anyone who calls or meets you in person, requesting your credit card information. Scammers are known to pose as banks and credit card officials to collect sensitive information from you. No authorized official can or will be delegated to collect your card details. Abstain from replying to any messages or emails asking for credit card information and report any suspicious activity.
When you use your card for an online transaction make certain that the website is secured with the https:// in the address bar and a lock in the right corner of your browser. Often fraudulent and fake websites look like a normal web site or which allows you to apply for credit card [i; es issuing credit card] or for other businesses, and if you aren’t cautious, you can reveal your account details. Refrain from clicking on email links and go directly to the business’s website and log in to your account.
It is advised to add your mobile number to receive instant alerts for any online credit card transaction activity on your card. It will keep you notified of any fraudulent activity which can be instantly reported to customer service so that you are not held liable for the amount. New RBI guidelines protect the customers for any monetary loss due to poor security by the bank. However, if negligence is on your part, you have to bear the loss.
Be careful and mindful not to lose your credit card. Carry just the card you would use and not all the cards at the same time. Stolen credit cards put you at risk if you get pickpocketed or lose your wallet. Before leaving a store or restaurant make sure you have collected your card.
A credit card skimmer is a card device that is placed on the card reader to capture and store your information through which your data can be accessed. Keep vigil for devices like, a card reader that sticks out past the panel, a security pin overlay, or parts of a card reader that is loose. If you find any of these at an ATM or card machine, do not use the system and report it to the bank.
Credit card billing statements usually have your full credit card number written on it, so shred or tear it before you trash it. You also need to cut your old card when it expires so that it does not fall into wrong hands. Check your billing statements every month and if you find any suspicious activity make sure to report the same to the credit card issuer immediately.
Credit card transactions should be strictly avoided in public places using public Wi-Fi as hackers can easily obtain your information on the public internet. Keep an active anti-virus in your system, to protect from downloading malicious content through which hackers could steal your information.
Prevention is better than cure, follow these above-mentioned suggestions and stay alert and safe.
Additional Reading – Late Credit Card Bill Payment – How Damaging Is It?