How to avoid credit card frauds
Credit card frauds
cost card holders and credit card companies millions of dollars every year.
Although some of the fraudsters use ingenious methods,
Credit card frauds cost card holders and credit card
companies millions of dollars every year. Although some of the fraudsters use
ingenious methods, most of the people committing fraud on credit cards use very
mundane methods that are anything but hi-tech. Again, although some of the
fraud occurs due to factors beyond the control of the card holder, as for
example the leakage of vital and sensitive information by company employees who
have access to such information, most of the fraud occurs because of
information or help provided by the cardholder. From this, it should be clear
that most, although not all, of the fraud can be prevented if you take
sufficient care.
The most obvious and common type of misuse is through
the physical theft of the card itself. When somebody steals your card, he or
she is as good as stealing money from you. For this reason, you should always
keep your credit card in a secure place, and carry it around with care. Abuse
of the trust is a closely related and common means of fraud. Never let anyone
borrow your credit card. If necessary, use it on their behalf, but do so
yourself.
Take care to sign on the credit card as soon as you
receive it. When you use your credit card at a shop or restaurant make sure
that you get it back immediately after the transaction is over. Wherever
possible, do not lose sight of the card when the bill is being made out.
Fraud using credit cards online is a major problem. To
avoid your credit card being misused on the Internet, make sure that any site
in which you are giving your credit card number is secure and trustworthy.
Never use your credit card on the Internet unless you are sure of the site.
Do not part with your PIN or credit card number and
the three digit extension, unless you have to. You should be particularly
careful of emails from unknown persons promising attractive rewards, or
pretending to be company officials, and asking you for these details. Ditto for
information over the telephone.
Finally check your card statements carefully as
soon as they arrive and report any discrepancies immediately. Also, report the
theft of your card, if it happens , as soon as you come to know of it. Your
liability could reduce substantially if you do so.
About the author
a place where you can find information about the different types of credit
cards and tips to help with managing them.
Tags: card holder, cardholder, care abuse, credit card companies, credit card frauds, credit card number, digit extension, fraud, ingenious methods, mundane methods, secure place, stealing money, using credit cards
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