Some Tips to Prevent Credit Card Frauds
Credit card fraud is a form of theft in which a person uses someone else’s credit card information to charge purchases or to withdraw funds from the account. Credit card frauds occur every day and in every place in different ways. A person cannot prevent it from happening. If you treat all of your credit cards and accounts as cash, it is a way to head off potential use.
How do these credit card frauds happen?
- Sometimes a dishonest person can misuse your credit card by using its photocopy. He can use it to buy other items or can create another account.
- There are other examples too that can happen for using your credit card scams.
- Theft is the most common form of credit card fraud. It can happen in different ways from low-level tech dumpster diving to high technology diving. A thief can use your discarded billing statements to find your account and billing details.
- A Credit Card company’s website or bank’s website can get hacked as it will result in hacking your credit card details.
What to do to prevent credit card frauds?
- Use your cards like cash.
- Keep your credit card number private don’t write it anywhere.
- A person must sign up his news cards as they arrive and cut your old cards once they get expired.
- Sign with permanent ink to prevent it from further misusage.
- Every transaction must be processed in your presence every time you make any purchase.
- Retain your receipts with yourself to check them against statements.
Some practices to prevent credit card frauds:
- When someone asks for your account number on the phone deny them.
- Carry all of your credit cards separately from your wallet.
- Never sign a blank receipt.
- Account any questionable charges to the card issuer.
- Never sign a clean receipt.
- Keep your vouchers to compare with your statement.
- Don’t write down your account number on the outside of an envelope or other paper.