Credit Card Fraud - 10 Tips to Stay Safe

There are some things in life we can at times be completely helpless to stop. Unfortunately becoming the victim of credit card fraud is very often an event that falls into this category. All you can do is take as many precautions as possible to help avoid an unpleasant shock when reading your mail one morning or logging on to your internet banking service. Worryingly credit card fraud is becoming a growing problem and accounts for £1million per day in the UK alone. So, what steps can you take to avoid becoming part of statistics like this? I've outlined 10 helpful hints for you:

1. Although with the advent of chip & pin this is becoming less important, you must sign new cards as soon as you receive them.

2. Shred your old cards. A card you never use is one that is easy to lose and forget about and it's therefore very important to destroy these cards.

3. Never send your credit card details in an email. Even if you are just sending them to a friend, imagine how many wrong hands those details could be into within minutes if someone intercepts the email. You will never receive an email from your bank or an e-commerce company such as Amazon asking you to confirm your bank details. The 'from' field in an email is extremely easy to forge so even if it appears to be Amazon who sent it, its from a thief using a dangerous technique known as 'phishing'.

4. Likewise never fax or send a letter with your details on them. The only place where your numbers should be permanently visible is on the card itself. So destroy or carefully file away any statements you receive. You wouldn't give anyone on the street your bank statement so don't leave it intact in your garbage for anyone on the street to find.

5. Be extremely wary of random strangers talking to you or trying to distract you while using an ATM machine. Also if anything about the machine looks suspicious do not use it but instead report it immediately. Small cameras attached above to read your PIN or skimmers attached to the insertion area are two such devices to keep an eye open for.

6. When handing your card over the counter in a shop to make a purchase be very aware of what the assistant is doing with your card. All it takes is one quick swipe in his machine under the desk for all your details to be no longer just yours.

7. If you have to give out your card information over the phone only do it with reputable companies and certainly only when it is you who started the call.

8. You should know at all times where your credit card is. Mine is always in my wallet and if it isn't there I know there is something wrong. Credit cards are not large objects and coupled with the amount of times we use them in our daily lives, they can be lost very easily. Contact your issuer immediately to get the card blocked. If you don't and the criminal goes on a shopping spree then your lack of action could potentially harm your protection against having to foot the bill.

9. Going on holiday is a time when you are likely to be using your card a lot and is also a time you would least want the hassle associated with having your card stolen. You should therefore wear a money belt especially when travelling in countries you are unfamiliar with.

10. Go through your statement with a fine tooth and comb every month and reconcile every transaction with the receipt. Thieves could be stealthily using your credit card details without you noticing as opposed to quickly maxing out the card which would bring it immediately to your attention.

Like any crime, credit card fraud will never go away but if you follow some of these tips then you can at least reduce the likelihood of falling victim to it.

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