Protect Your Credit Card
The recent surge of fraudulent scams and identity theft has left many consumers feeling very vulnerable and sometimes paranoid about using credit and debit cards. In 2008, there were 9.9 million victims of identity theft. It’s true that there is a lot to worry about when it comes to security, but there are some precautions that you can take to protect your accounts and regain some confidence.
- Be careful to whom you give your information. Whether it’s a phone call or an email, don’t divulge any sensitive information unless you’re certain that you’re speaking to a reputable retailer or your financial institution. If you’re unsure, hang up and call them back at their official listed number.
- Look out for skimmers. These small devices can be used by employees at retail stores and restaurants to store your account information just by swiping the card. They can also be installed at ATMs, retail stores, and gas stations, so check for anything that looks out of the ordinary like loose or mismatched parts and wires where you would swipe your card.
- Cover the keypad with your hand. Don’t let any people or cameras see your PIN number as you type it in.
- Shred your financial documents and bank statements before you throw them away.
- Review your statements to track account activity. Most banks also allow you to see your account activity online. If you see anything that shouldn’t be there, call immediately to get more information or dispute it.
- Download anti-spyware software for your computer. You can buy it, or find free options available online.
- If using WiFi, encrypt your connection and make it password protected.
Whether you’re shopping online, using an ATM, or dining out at a restaurant, these are some good precautions to take when using your credit or debit card. In the event that your information or your card is stolen, call your bank or credit issuer immediately to report it.
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