How to Protect Yourself From Credit Card Fraud

How to Protect Yourself From Credit Card Fraud

Many times, credit card fraud happens due to sheer negligence. You need to always be extra cautious about your credit card transactions. Online shopping is getting more and more popular with each passing day. With digital payments, the chances of your credit card being misused are higher. Below are a few tips that can protect your credit card against fraudsters or hackers:

How to Protect Yourself From Credit Card Fraud

1. Review your credit card statement thoroughly

Keep a tab on your credit card bills regularly. You will have three major benefits by doing this:

  • Any unauthorized purchase will be identified.
  • You can be sure that you have not been over-charged for any purchase you made.
  • You can inform your credit card issuer about any charges you’re unsure about.

2. Alerts

Most banks offer customers with a transaction alert option. You can either choose to receive an email or an SMS for every transaction you make. You can easily find out when your credit card is compromised if you have an alert sent to your phone. This is because you will receive a message even if you have not initiated the transaction.

3. Alert your bank as soon as your credit card is lost or stolen

You cannot stop your credit card from being misused if you don’t inform your bank immediately about losing your card. These days, fraudsters are able to make transactions even without a physical card. Hence it is very important to monitor your online transactions too. Get in touch with your credit card issuer as soon as you get suspicious about any of the purchases made using your card.

4. Do not use WiFi hotspots that are fake

Fraudsters come up with free WiFi hotspots with a name that matches the place you’re in. If you consider this a genuine one and log in, there are high chances that your bank account will be hacked. This is extremely dangerous since they can gain control over all your phone data as well. Always use a WiFi hotspot only after confirming that it is an authorized one. Never save your credit card details on shopping websites even if you receive a reminder to do so.

5. Other basic tips to keep your credit card safe

  • As soon as you receive your credit card, ensure the card is signed by you.
  • Every time you make a purchase, make sure to collect the correct card.
  • Never disclose your credit card details to anyone.
  • Change your PIN on a periodic basis.
  • Do not mention or write your PIN anywhere.
  • Update the bank’s online portal with the latest contact information.
  • Install the latest antivirus and anti-malware software programmes on your computer and mobile.
  • Do not open emails received from unknown sources.


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