Tips to Prevent Credit Card Fraud

The average American has 2.6 credit cards, though many have five or more. Whether you use them for daily expenses, vacation splurges, or to rack up airline miles, you need to know how to protect against fraud that could easily ruin your credit. Theft can happen in many different ways, some of which you have no control over (such as when a store you’ve shopped at is hacked). However, there are many types of theft you can prevent with these simple and easy-to-implement tips.

Keep Account Information Safe and Secure

Do you keep credit card statements in places where they could be easily compromised? If you leave statement out on your desk at work or throw them in the trash without shredding them, you’re opening yourself up to possible theft. Always keep statements in a secure location and thoroughly shred before throwing away or recycling.

Read Each of Your Statements

Too many people simply pay their credit card bill without fully reading the statement. This makes it easy to miss charges that are fraudulent and makes it possible for the charges to continue. Read each of your statements to verify you’ve made all the purchases listed. If you have trouble remembering, keep your receipts and match them up with your statement.

Only Buy Online from Reputable Companies

If you shop online, you may have a false sense of security and think your information will be kept safe. However, theft often happens with online purchases. The company you are buying from could be the culprit, or their lack of security could lead to hacking. Before you buy online, research the company to make sure it’s safe. Better yet, stick to companies you know you can trust and that have secure means of transferring credit card data.

Check Your Credit

In many cases of identity theft, the victim is unaware their information has been compromised. Checking your statements every month is an important part of awareness. In addition, you should also regularly check your credit score. A big change in your score could indicate identify theft or credit card fraud and helps you to catch the activity quickly before more damage can be done.

If you lose a credit car or think you may be a victim of credit card fraud, it’s important to alert your credit card companies immediately. They can immediately suspend activity on the card and check to make sure no fraudulent purchases have been made. If you have any questions about credit card safety or would like more information on keeping your information secure, please visit our website.