Protect yourself from credit card fraud

Credit cards are one of the most convenient forms of borrowing and payment, but you should always be aware of the potential dangers when opening a new credit account. With many transactions now taking place over the internet, a criminal may not even need to be in possession of your physical credit card in order to commit fraud under your name.

Despite the security measures employed by many companies when verifying card details, experienced hackers and fraudsters can sometimes bypass these if they know even a small amount of personal detail. That's why it's essential to obtain your new credit card from a reliable company that offers superior fraud protection, as well as to learn the ways you can reduce your risk of falling victim to fraud.

The first step to ensuring your credit card doesn't fall into the wrong hands is to keep it on you at all times. Just as you wouldn't leave cash or your car keys lying around for anyone to pick up, so should your credit card remain safely stowed away in your wallet or a locked drawer, rather than left out on your work desk, or on display in your vehicle.

Protecting your PIN number and other details of your credit card can be just as vital as safeguarding the card itself. Never write your PIN number down, or other details of your card such as its number, expiry date or security code, as these can be all the information criminals need to start making expensive purchases or transferring money in your name.

You also need to be cautious when using credit cards to pay for goods and services. While it may be necessary to provide your card details over the phone or in online forms, never offer these details unless the request is directly related to placing your order. You should also check your credit card when handing it over in stores and restaurants in person, to confirm that you have received your own card back, rather than someone else's.

Keeping track of your account activity can be the most effective way to be vigilant against potential fraud, as you will be able to spot any abnormal purchases or transactions listed on your account that you don't remember making. These concerns should be reported to the relevant authorities immediately, including the police, your bank and your credit card company.

The author of this article is a part of a digital blogging team who work with brands like Barclaycard. The content contained in this article is for information purposes only and should not be used to make any financial decisions.

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