Credit Card Fraud Prevention Tips

As technology advances, so do the ways that criminals commit crimes. Credit card fraud for online purchases alone topped $4 billion in 2008. One crime that is on the rise is credit card fraud, but there are some simple steps consumers can take to help prevent them from becoming the next statistic.

How to Prevent Fraud

  • When you get a new credit card in the mail, immediately sign the box on the back as most vendors match that signature with the one on your driver’s license
  • If you are dining out and pay by charge card, keep and eye on your credit card at all times as it makes its way around the dining room so you can see if someone is illegally copying down or swiping your number
  • If you are making a purchase by phone, do so in private so no one has the opportunity to memorize your credit card number
  • Do not give out your credit card number to anyone you did not initiate the call to
  • Do not email your credit card number, especially if the request for your information is solicited via an email as it may be a phishing scam
  • Always check your credit card statements when they come in to verify if the charges made were actually yours
  • Know where your card is at all times and if you have multiple cards, lock the ones that you are not currently using in a safe

Earn More Perks From Your Credit Card

By being an alert and cautious consumer and credit card holder, you can help slow the increase in credit card fraud. Make sure to be aware of your surroundings when you are out, store your credit card safely when not in use and check your credit card statements for accuracy. By following these and all the previously mentioned tips you can help protect your financial well being.

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About the Author

GOBankingRates Staff

These articles are written by the in-house GOBankingRates team.

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