Consumers use their credit cards to make purchases at stores, for online shopping, paying bills and by giving it out over the telephone for purchases. Fraudsters are always at work trying to get your credit card details so that they can steal your money and your identity. It is absolutely essential that you keep the details of your credit card information safe at all times to protect yourself from such unscrupulous characters
When a fraudulent person gets his/her hands on your credit card quite often all that is required is a signature, rather than a PIN number. You may have a PIN number to use when you want to get a cash advance on the card through an ATM machine. There are other personal details associated with the card that you should keep secret and not divulge to anyone. These include the answers to personal questions that you choose, the most common of which is your mother’s maiden name. The three additional digits after the account number on the back of your card are also very important and a person who already knows your credit card number can do untold damage with this information
Always know where your credit card is. If you usually keep it in your wallet, make sure you have a good hold on this wallet. When you are going out at night to a crowded club, it is best to use cash and leave your credit card at home. This will reduce the temptation of using the card when you don’t really need to and will keep it safe from thieves who can quite quickly steal your card. When you do enter your PIN number at a store to make a purchase make sure you do guard the number with your hand so that it can’t be seen by cameras of those standing in line behind you
Phishing scams through emails are other ways in which you can become a victim of credit card fraud. You may receive an email from your bank or other credit card provider asking you to update the personal information associated with the card. This usually involves asking you to enter your card number along with the three-digit code on the back of the card along with personal information such as your mother’s maiden name. This is enough information for these people to max out your card leaving you with the bill
The Institute of Chartered Accountants in the UK has issued warnings about responding to unsolicited phone calls and emails asking for such information. In spite of these warnings, many UK residents have fallen for the fraudsters’ tricks and have given out the requested information. Banks and financial institutions will never call or email you asking for such information. You should be suspicious of any phone calls or emails that require you to give the details of your credit card
Fake emails, called phishing scams, are also ways in which unscrupulous persons can gain access to your credit card. One example of such an email is one that looks as if it is a legitimate one from your bank or credit card company telling you that you have to update your personal information. If you do so, then you give these people unlimited access to your account and can cost you a lot of money.
