Credit card security is an issue that most people do not think about much. Having your credit card stolen or having your numbers used without your consent can happen, but it is rare when you consider how many people rely on debit or credit cards to make purchases. However, falling victim to either a pickpocket or high tech thief can be a serious inconvenience at best. Your life will, more-or-less, be on hold until you can make sure your cards are cancelled and that you are not liable for charges made by the thief. The worst case scenario is that you will not notice until it is too late and will find yourself liable for some or all of the illegitimate charges made to your card.
Here are some very simple tips to help lessen the odds that you will become a victim of high tech or low tech credit card theft.
1. Keep track of what’s in your wallet. Are you one of those people who carries four or five cards in your wallet? Worse, do you even know what cards are in your wallet right now? If your wallet or purse is stolen, you’ll have to act quickly to report the theft to your credit card company so that you are not liable for any charges made by the thief. That means knowing exactly what you are carrying in your wallet. Keep the contact information for these cards close at hand so that you can reach the credit card companies and your bank immediately if your card is stolen. If you can cancel your cards quickly enough, the thief won’t be able to use them at all.
2. Avoid suspect ATMs and pay-at-the-pump card readers. Though it is rare, some thieves can alter card-readers so that they save or transmit your information to a third party, who can then use your numbers without your knowledge. This is especially dangerous because the legitimate card-holder may not be aware that their number has been stolen until they receive their statement. Always avoid pumps and ATMs that appear damaged or have things on them that don’t seem like they belong.
3. Always get a receipt. This can be a pain, especially if you are trying to avoid extra clutter in your wallet or purse. However, it is much easier to dispute any extra charges on your card if you have a paper trail that proves what you spent.
4. Track your accounts online. Credit card security advice used to include the phrase: “check your statement every month.” If your bank or credit card company offers online account management (any decent bank or card should offer this, for free), you can log in and check your account activity every few days. There is no need to be paranoid about it, but the more often you check, the quicker you will be able to spot any illegitimate charges.
5. Don’t give out your card number or your PIN number. Banks should never ask for your PIN or your credit card information. Most people are aware of phishing scams that ask for your personal information or ask for you to log into a site that is not the official site of your credit card company or bank. Phishing scams prey on naïve people, but people who are simply in a hurry or distracted may also fall victim. To avoid being one of those victims, get in the habit of never giving out your information to anyone unless you initiate the transaction.
6. Destroy old statements or other documents that have your credit or debit card numbers on them. Receipts should only have the last four digits of your card humber, but statements may have the entire number. Opt out of receiving paper statements if possible and only get your statements electronically. Also, never write your number down on paper unless you destroy it afterwards. Avoiding carelessness can significantly decrease your odds of having your numbers stolen.