Credit Card Fraud: How to Avoid It

Having your identity stolen leaves you feeling violated, scared, and beyond frustrated. Watching the money you have traded your time for slip away into oblivion is something no one wants. Here is the good news! You don’t have to be a victim! You can put up safeguards and educate yourself to avoid credit card fraud.

Don’t get scammed!

Top 3 Types of Credit Card Fraud

Credit Card Fraud with Skimming

Skimming is occurs when your credit card information is stolen while you are making a legitimate purchase. The fraudsters install a small device called a skimmer. The skimmer can be used to read and store your credit card information. Thieves can then use your stolen information to make unauthorized purchases or withdraw money from your account. To avoid being skimmed, always check for signs of tampering at payment terminals and be vigilant about keeping an eye on your credit card during transactions.

Phishing Thru Emails or Texts

Phishing is when thieves send emails or texts impersonating a company or person to steal your personal information. They may try to trick you into sharing sensitive information. Never share things like your Social Security number, date of birth, account numbers, or login credentials. They also sometimes include links to fake websites that look identical to the real thing. To avoid being scammed, never click on links or open attachments from unknown senders. If you aren’t sure whether an email or text is really from the company they say the are from – contact the company directly. Verify before responding to avoid phishing credit card fraud!

Dealing with Identity theft

Thieves may use your stolen information to open new accounts in your name, make unauthorized charges on existing accounts, apply for a loan or credit card, file taxes, or even commit other crimes like buying drugs or weapons illegally.

There are several websites you can use to check your credit report. Lots of times identity theft will show up on these reports first! If you catch it early, you can minimize the blow and stop the thieves in their tracks.

Final Thoughts on how to Avoid Credit Card Fraud

Taking some simple precautions can save you a lot of headache later. Checking for skimmers at payment terminals and being vigilant about who has access to your personal information—can go a long way towards preventing fraud before it happens. And if you do become the victim of fraud, contact your bank or credit card issuer immediately! Do you have any other tips to avoid credit card fraud? We would love to hear them!