In today’s modern world, many people use credit cards more often than cash. The convenience of a credit card combined with cashback rewards makes it an indispensable tool to have in your wallet. You may wonder, though, if your credit card purchases are safe.
After all, you have likely heard stories of fraud and credit card information being stolen. While the funds can usually be recovered at no cost to you, it can be a stressful and aggravating thing to experience. Therefore, it is wise that you follow these tips for keeping your credit card information safe at all times.
Swipe Your Card Instead of Giving out the Numbers
There is a certain type of fraud known as CNP fraud. This is card-not-present fraud and happens when the numbers from a credit card are used to make purchases even if the card is not physically present. This can happen if you give your card away at a restaurant or store where they take it to another station to process the payment. While this is rare, it can happen, and you should always try to physically swipe your card yourself instead of giving the numbers or card away.
Monitor all Card Activity
Most credit card companies have fraud alerts that you can register to be sent to your phone. Some even allow you to get a text message notification every time your card is used. This can help you spot fraudulent charges as soon as they happen, and the credit card company may be able to stop the purchase from being completed.
Don’t Miss-
Tale of the Tape: Online Lenders Such as SkyCap Financial Versus Credit Card Advances
4 Signs You Need a New Credit Card Reader
Only Shop Reputable Online Stores
Before entering your card information online, be sure that it is a reputable place you are buying from. This can help you avoid chargeback company costs if your card information is stolen. Before submitting a purchase on any website, read reviews about that company. You can also use a third-party payment system so that the online retailer never sees your card information.
Using a credit card has many benefits, but there are still precautions that you should take. There are pros and cons of any type of payment method, but the ease of use and rewards associated with a credit card can help you keep track of your finances better. If you are interested in learning more about your credit card company’s fraud protection, consider contacting them directly to discuss any precautions that are in place.
