Credit card fraud is an adjunct to identity theft, though most people use these terms interchangeably. Credit card fraud means the use of other people’s card as a fraudulent source of cash without their consent. The main reason for this type of theft is to acquire merchandise without paying and by using the funds from the stolen credit account. The modern world and modern consumers love the convenience of being able to use their plastic wherever they go and rarely do they stop to consider what would happen if their card information became vulnerable. To avoid a situation like credit card fraud, we have listed below few things to remember:
• Guard your mail against theft – The easiest way for a thief to steal or gain your personal information is by getting access to your mail. So, it is advisable that you always shred discarded mail that contains personal information and never leave mail unattended or unsecured in a mailbox.
• Pay attention to your billing cycles – Always be cautious and try always to contact your creditors if your bills don’t arrive on time, sometimes using paperless billing is advised as to avoid any useless paper in the mail. This also prevents thieves from stealing billing information.
• Secure Online Purchases – Before you make a purchase online It is advisable that you make sure the URL is an official domain name and not a phishing website and also always look for clues such as a lock and key at the bottom of the browser.
• Be cautious when giving out your credit card information – Before you share your credit cards details with any business make sure that they are reputable and honest.
• Put passwords on your credit card, bank, and phone accounts – This should also be frequently changed and also make sure you use security questions.
• Protect your personal information in your home – Just as we have advised earlier on charge receipts, expired credit cards, doctor’s statements, discarded bank checks, and statements, credit card offers, insurance forms, etc. should be get rid of, or tear and shred documents. If needed, invest in a lockbox or secure cabinets to store personal files.
• Never carry your Social Security card – Its that simple is leaving it behind at home. It’s not advisable to carry around.
• Avoid using your card as ID – Only use your credit card as the second form of an ID if it’s for a recognized and reputable merchant. Your normal ID card should usually be sufficient. Thieves can use this information to assume your identity and open bank accounts, make purchases, obtain cash, and even get a job or apartment.
It is in your hands to make sure that you are dealing safely with the sellers. Do not try anything silly and lose thousands of dollars and hopefully, you will not do anything like that.