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6 Tips To Avoid Credit Card Fraud

June 27, 2017

Your credit card information is highly sensitive and unfortunately, it’s frequently at risk. You should be guarding the security of your credit cards the same as you would guard your most valuable possessions. In order to ensure your information is protected, you need to know about the risks and how to avoid them. Have a look at some of these helpful tips for avoiding credit card fraud and give yourself piece of mind.

Keep track of your cards.

If you had a substantial amount of cash in your wallet, you would be very careful with it. You would know exactly how much money is in there and you would certainly know if any of it had gone missing. When it comes to credit cards however, people seem to take a more at-ease approach to keeping track of it, even though there’s much more at risk. Keep your credit cards safe when they’re on your person and keep a close eye on them so you’ll know when they go missing. If you do lose track of any cards, don’t hesitate to cancel them. A lot of damage can be done in a short time.

Shred sensitive documents.

It may seem like it’s a little paranoid to shred bank statements and purchase orders, but you’d be shocked at how much information thieves can get by digging through your garbage. Anything that has your credit card number on it should be destroyed rather than thrown out with the rest of the trash. If you like to hold on to those records, make sure you keep them in a secure place.

Be extra cautious online.

Online shopping might be very convenient but it can also put your credit card information at risk. You need to be extra careful about which sites you are buying from and which sites ask for your credit card number. Before entering in any sensitive information, check if the site is secure. Is there a lock icon next to the web address? If so, the site is safe to use, if not don’t use that site.

Create a strong password.

Your password is your first line of defense against credit card thieves, therefore it is essential to create a strong one. This goes for both your pin number and your online banking password. Don’t get lazy with picking one that will be easiest to remember. Put some effort into building a strong password to keep yourself protected. 1234 just does not cut it nowadays.

Be on the lookout.

Knowing the dangers that put your credit cards at risk can help you to spot them quicker and avoid situations that leave you vulnerable to attack. For instance, some of the more knowledgeable thieves use credit card scanners on ATM machines or credit card terminals to steal the information of unsuspecting patrons. Use your best instincts and if something doesn’t seem right, trust that feeling.

Monitor your statements.

Many of us get our monthly credit card statements and don’t give them a second thought. But there’s a lot those statements can tells you and keeping track of your spending will help you to spot any irregular spending or inconsistencies. Credit card companies are usually pretty good about detecting unusual spending, but for smaller more frequent purchases, you are most likely to stop the problem.

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