Having a credit card and making purchases with it is one of the most common things nowadays. Many use the services of the credit cards as they are known for their many benefits. It’s quite common for people to actually have no physical money and only credit cards. It’s one of the best ways to purchase something as they are accepted in most of the stores, they are really convenient and can provide extra purchase security as transactions can be delayed until you are satisfied with your product. However, even with all these benefits, credit cards have their own risks which might result in someone taking your money.
Thieves have their own ways of stealing even the money that you have in the bank account and that is through stealing your credit card information. Sadly, if this event occurs, the thief will be enabled to purchase whatever he wants and use your account for the payment. Protecting your credit card is of great importance and you should be aware that your information can be stolen in various ways. Here are some tips that should help you to protect yourself:
1. Protection of your credit card physically – This is what you can do in order to make sure that your credit card itself is not stolen.
– Don’t go on and get many different credit cards. Most people need only one or two, so having more than that might not be needed. Carry as little as you can.
– Keep the cards that you don’t use somewhere safe.
– Keep the phone numbers of the companies that issued the cards as well as the card numbers safe, too.
– In case you are expecting to receive a newly issued credit card and you don’t get it in time, make sure that you contact the company and see about that matter.
– Sign and activate the new cards when you receive them.
2. Protecting the information of your credit card – That means having all the information concerning your card kept at safe places at all times.
– Do not write the PIN number of the card on it!
– Do not share any information about your card if you are not the initiator of the call.
– In case you do not receive your card statements, make sure that you contact the issuer and check with them for the reason as someone might have changed your address and might be taking your statements.
– When you are writing checks in order to pay your card bill, don’t write all the numbers of your card as only the last four will do.
3. Preventing credit card usage by unauthorized people
– Don’t give your card to someone else. The risks are that it can be used improperly or stolen.
– Make sure that you properly dispose of the receipt.
– Don’t sign a charge clip which is blank.
– Make sure you retrieve your credit card and receipt once you are done with the transaction.
– Compare your receipts to your account statement.
Michael Stone has over 6 years of experience helping companies develop systems for credit card (betalingskort is the term in Norwegian) information protection.