If you’re thinking, ‘How to stop credit card fraud,’ this is what you need to know and be aware of. In the age of digital transactions, protecting your credit card information is critical. Fraud and identity theft are very common these days. They could cause a lot of trouble for you and card issuers.
The issuer’s zero-liability policy may offer some financial protection. Despite that, it is crucial to find the theft, report it, and get a new card immediately. Understanding how to stop credit card fraud has become more important than ever.
Here’s a quick overview of 10 hacks that can help you stop fraud before it happens.
Beware of Phishing Scams
Phishing targets card users by sending them an email that appears to be from a reputed source.
The email asks you to provide personal details. Scammers then use this information to open new accounts or invade your existing ones. It is a significant threat nowadays.
Use Trusted and Secured Sites
If you shop online, you can see the closed padlock in your browser’s address bar, or “https://” at the start of the website’s URL. This projects that the site hides the data you send, making it harder for hackers to capture your credit card details.
Read the reviews and look for customer feedback to prove the authenticity of the unknown websites.
Get Familiar with Two-Factor Authentication (2FA)
You can protect account login information using two-factor authentication. In addition to your login and password protection, it adds a second step. This may include requesting a passcode via text or email to ensure you access the account. Avoid using the same login and password for multiple apps and websites.
Monitor Your Accounts Regularly
Check your credit card statements closely to detect any fraudulent activities. Review your statements often and look for any unusual charges. If you notice them, contact your credit card issuer right away.
Reporting irregularities helps prevent future fraudulent transactions and safeguard your credit card.
Use Strong, Unique Passwords
Remember, passwords for your online card and banking profiles must be unique and complex. Generally, a good password is long with a combination of upper- and lower-case letters, numbers, and symbols (if allowed).
To add complexity, use a phrase. Replace words like ‘to’ with ‘2’ and ‘and’ with ampersands. Use phrases you will remember. But don’t include personal information or write down your passwords.
Protect Your Physical Card
Always keep your credit card secure and avoid carrying more unnecessary cards. Be cautious when giving your card to others, such as at restaurants. Make sure it’s returned promptly.
Secure Your Devices
This is yet another important tip that you need to follow. Make sure to update your computers, tablets, smartphones, and other devices. Use the latest security patches and updates. Follow these essential steps:
- Install trusted antivirus software on your devices
- This will protect against malware that can steal your information
- Scan your devices to free them from malicious software
- Use encryption tools to protect sensitive information on your devices
Take Extra Caution When Using Public Wi-Fi
Private networks are often less secure than public networks. So, avoid initiating sensitive transactions, such as online shopping or banking, in public Wi-Fi. But there’s a hack to avoid this.
Use a Virtual Private Network (VPN) if you plan to use public Wi-Fi. It encrypts your internet connection and protects your data from hackers.
Discard Sensitive Documents
Shred any documents, including credit card statements, receipts, and pre-approved credit offers. This ensures that miscreants don’t get access to your card information.
Report Lost or Stolen Cards Immediately
Report your credit card to your issuer immediately if it is lost or stolen. Keep your credit card issuer’s contact information in a safe place. You can then quickly contact them in an emergency.
As you can see, you must take several proactive steps to protect your credit card details online. But the question is, how do you redeem credit card points without compromising security?
If you want to benefit from reward points and security, simply get the One Credit Card.
This card comes with a secure app that empowers you to control your credit card at your fingertips while ensuring security. The features of this robust app help monitor your accounts by creating strong passwords and keeping you wary of phishing scams. Whether you want to change your app pin, turn transactions on or off, or lock or unlock your credit card, just open the app, go to ‘My Controls’, and you can do it. Apply now to stay informed and secure with online transactions without compromising your peace of mind. Remember, the power to protect your credit card information is yours.
