Credit Card Thefts: How to avoid them?

Credit card thefts are on the rise because of easy access to the plastic money. Identity theft is rampant now with miscreants finding ways and means to take hold of your private information and apply for credit in your name.

The person, who commits identity theft, spends your credit card whichever way he or she feels like, and you are held liable charges for the purchases not done by you. You can imagine the vast amount of negative influence; it can have on your credit ratings. This will make it very difficult for you to apply for fresh loan or credit.

There is no fool-proof method to totally obliterate credit card fraud or identity theft. But you can restrict the possibility to a bare minimum. Here are some ways in which you can safeguard your credit card information and prevent the occurrences of a credit card fraud happening to you:

1. Never give your credit card number to anyone. You may get a call from someone posing himself as a customer care provider of the credit company and ask you for the credit card number. You shouldn’t give it to them because if they are the credit card company, they shouldn’t be asking for the number.

2. If you have got a replacement credit card or another credit card following the expiry of the previous one, make sure you cut the card with a pair of scissors and destroy it.

3. Sign on the back of the credit card when you receive it. This is very important because you are asserting your ownership of the card.

4. The CVV number or the card verification number is the most sensitive and private information on the credit card. Most online frauds happen due to leak of information pertaining to the CVV number on the back of the card. So, it is important that your credit card does not fall into wrong hands.

5. Try not to keep your credit card in your wallet, instead carry it in a bag or a purse. Usually pickpockets aim for the wallet, and you may not want your credit card to be an easy target.

6. If there is any charge on the credit card invoice that you do not agree with, make sure that you bring it to the notice of the customer care panel. They will set up a dispute for you.

7. Be alert and look at how the person using the credit card swiping machine is using your credit card. It is possible that he may secretly try to publish more than two copies of the credit card information.

8. Check with the credit card company and the credit report unions if some of the credit cards that you do not use are closed. They are better closed because if they are lying unused and open, it is an open invitation for identity thefts to perpetrate.
 

Compare and save on your credit card - get instant approval!!!