- As technology advances, so do the methods and occurrences of identity fraud, especially when it comes to credit cards. Just as technology has become more sophisticated so have criminals. Unfortunately, no one is completely safe from being a victim of credit card fraud, but knowing how it happens can help prevent it from happening to you.
- One of the easiest ways for credit card fraud to occur is through lost or stolen cards. This is why it's important that you immediately call your credit card company if fear your credit card is lost or stolen. You may be tempted to wait and see if it shows up, but that can be dangerous as a thief can immediately turn around and use your credit card information against you the moment they have your information. You may also want to look into identity theft protection features for the credit cards that you currently have to help simplify the process if your card information is stolen.
- Another way that credit card fraud may happen is through mail theft. Criminals are not afraid to open your mailbox when they believe no one is looking. These criminals can easily spot a credit card statement or even a credit card itself and remove it from your mailbox.
- Another means of credit card fraud is through employees at the businesses you frequent copying down your card number. This is especially easy when giving your credit card over the phone to a customer service agent. This gives the potential for the agent to copy the number, expiration date, and even the security number and use the information later. To prevent this, refrain from giving your credit card information out over the phone.
- Many thieves can get your information from your trash can. This is especially true if you have a community trash area (such as in an apartment complex). To keep your information safe, shred anything with your credit card or social security number on it.
- As technology increases, so do the methods available to potential credit card thieves. New methods include everything from implanting small devices on gas pumps that record your credit card number and pin, to high tech Trojans and viruses that can be implanted into your computer to record your key strokes--which allows thieves to record your credit card information as you type it into a website when completing an online purchase. Unfortunately, it's nearly impossible to combat some of these new techniques. However, being vigilant in keeping your antivirus software up to date, and not opening emails from unknown individuals are both useful ways to prevent credit card fraud.
