How to Protect Yourself Against Credit Card Fraud

More and more consumers are finding themselves the victim of credit card fraud, a trend that is rapidly rising. Use these simple yet effective tips to help protect yourself and prevent against credit card fraud.

Difficulty: Moderate

Instructions

Things You'll Need:

• Common sense
• Skepticism

1. Shop with Secure Online Merchants
   
   Only shop online with websites that have SSL certificates, which indicates they offer secure encryption of your credit card number and other personal information during an online transaction. Look for the padlock icon or “https” in the address bar, both which demonstrate the site is secure.

2. Be Cautious when Traveling
   
   When traveling abroad and making purchases with an international credit card, make sure you are charged the correct amount and sign the receipt and fill in any blanks as necessary (such as the tip line). Also, keep your credit card in a safe, secure place on you other than your wallet, especially if you are traveling in an area where pick-pocketing is common.

3. Know the Privacy Policy
   
   Most major online retailers online have a comprehensive privacy policy and terms and conditions which disclose how they use your personal information and whether or not they give access to a third party (e.g. give out your email address to marketers). Most websites will detail explicitly how safe your credit card information is and be aware that most major retailers have ironclad privacy policies that will keep all your information safe and confidential.

4. Review your Statement
   
   Review your credit card statement every single month, more if you need to. Most credit card companies post your statements online so you can simply login and check whenever you want. Make sure you can account for each purchase and notify the company if there are any suspicious or unauthorized charges.

5. Always Use Common Sense
   
   This is generally the best rule of thumb. If you get an email asking for credit card information, don’t send it. Or if you receive a call from someone claiming to be from your bank, politely ask for their name and call the bank back to verify they are from the bank. Never write down your PIN (which is needed to get cash advances) and keep it somewhere in close proximity to your card (e.g. your wallet).

Tips & Warnings

• If something doesn't look right, it probably isn't.
• Don't give out personal information to emails.

Resources

• International Credit Card

[nancys123]

on 10/21/2009 Good information on How to Protect Yourself Against Credit Card Fraud. 5*

[redar]

on 10/20/2009 This is an excellent 5* article, thank you for all your wise advise.