With online shopping, swiping your mobile at the local supermarket, ride-sharing apps, and many other ways to pay with credit, it’s getting even simpler and more convenient to use your credit card. This is why it’s more essential than ever to keep your credit card safe.
This is one of the most frequent types of identity theft because cyber criminals and other fraudsters use your credit card number to make purchases in your name, and you don’t even know it.
How To Protect Credit Card from Frauds?
As more and more people use debit cards and credit cards to buy things online. Cyber Security experts are starting to get a little irritated by ID theft and credit card fraud. They take your credit card details and use them to make not just big purchases but also to empty your bank account in a hurry. In no way is it a good idea to put yourself in the way of possible fraudulent transactions and be on the verge of financial ruin.
Furthermore, you can take some very specific measures to protect yourself from online fraud and theft, but they aren’t very strong. Here’s how you do it.
1. Robust Authentication of Credit Cards
CVV number: Most payment gateways ask for this number when you pay online. This is the three-digit number on the back of your credit card that is unique to you and can only be used once. You don’t see it as you fill in the information and the bank checks to make sure it’s you. Using Zip codes at money transfer kiosks is also a way to prove who you are, as well.
Modern-day banks use sophisticated algorithms to keep an eye on your purchasing habits and alert the bank when something looks fishy. An illegal transaction won’t go through, so this means it won’t happen. Even though this can be a pain, it’s better to stay safe than to be sorry.
2. Avoid using public Wi-Fi for financial transactions
Do not give out your bank account or credit card number over public Wi-Fi. If you do so, you’ll be open to cybercriminals since these networks are often not secure. In public places, thieves might be lurking around, waiting to steal people’s information when they’re not paying attention and getting their hands on it. Wait till you’re on a safe network before you make any money moves.
But that doesn’t mean you can’t use public Wi-Fi at all. You can use a VPN or virtual private network to protect your data from sneaky people who want to see what you’re doing.
3. Avoid using insecure websites
Let’s begin with something simple. If the site is safe, you’ll notice a padlock on the left side of your browser’s address bar.
Additionally, the website’s URL will start with HTTPS. Never submit your credit card details on an unsecured website. And, let’s face it, a firm that does not provide data protection for its consumers does not deserve your business.
Learn more: Why You Should Use A Credit Card?
4. Keep an eye out for skimmers
To get your credit card information, credit card fraudsters often use an instrument called a “skimmer.”They conceal these devices on ATMs and petrol pumps and use them to “skim” information from the magnetic stripe on the backside of the credit card.
When paying for petrol at the petrol pump or using an ATM, keep an eye out for evidence of manipulation. If you’re in any doubt, pay for your petrol in-store. If the ATM appears to be tampered with, locate another ATM that is associated with your bank.
Additionally, utilize your EMV chip credit card wherever possible. But don’t use your EMV chip credit card at an ATM. So not only do issuers of credit cards usually pay a high rate of interest on cash advances, but they usually start charging interest right away without giving you a break first.
Learn More: Save Yourself From Credit Card Debt
If you believe this statement is unnecessary, spend some time on any social media network. Additionally, if you have older children who use the internet, have a serious discussion with them about this.
Thefts use social media for hints regarding their life and financial information that they can put together. Further, this is a good rule of thumb: Do not make up your pet’s name as your password.
6. Maintain a close watch on your credit card activities
It is very important to get bank account statements and credit cards. After that, look over them very carefully for any suspicious or fraudulent transactions that might be there.
Secure your credit reports by requesting a security freeze. That way, thieves can’t use your name and apply for a credit card in your name because the lender doesn’t have access to the history of your credit.
Further, use apps for mobile banking that are more secure. In addition, constantly change the pin of your debit card every few weeks to keep your account safe.
7. How To Protect Credit Card Data with Difficult Passwords
You should never use a simple password when you are doing a transaction on the internet with your bank account. Bank account passwords should always be a mix of numbers, alphabets, and characters. This makes it hard for fraudsters to break and thus stops credit card theft.
Personal information, like your birth date, account number, and phone number, should be kept safe. Do not accidentally use these things on websites that sound too good to be true, even if they look good at first.
8. What after getting cheated
If you have been a victim of credit card fraud, don’t wait to report it to the police. You should tell your card issuer as soon as possible and get your credit card blocked. The same is true for your debit card, as well. Change all bank account passwords and user names right away. Take care of all other accounts, along with investment accounts, right away.
Most people don’t pay attention to Cyber Security because they don’t pay attention to online credit card scams and theft. However, you must be informed on emerging technology for online safety and stay attentive. By doing so, you can ensure that your online experiences are not only fun but also secure.
Conclusion on How To Protect Credit Card:
Therefore, be careful about your credit card since your one avoidance makes you pay a lot. Hence, try to follow all the precautionary measures to safeguard yourself from cybercriminals to protect your credit card. In addition, always keep checking your credit card transactions. Also, keep changing the password of your credit card. Moreover, never use unsure websites. Hence, stay alert, stay safe.