Protecting Yourself Against Credit Card Fraud

June 23, 2012 by  Filed under: Credit 

Credit cards are so convenient. When you shop for your weekly groceries, you need not look for and count whatever loose change you have in your purse and pockets in order to pay for the exact amount, just pay with your credit card. If you are planning to treat yourself to the latest fashionable shoes in boutiques nearest you, just whip out your card and you have your dream pair. However, owning a credit card entails responsibilities. And you should know how to protect yourself from fraud.

As credit cards gain popularity, fraud is also on the rise. As soon as you have your own card, you should educate yourself with its benefits and features. Not only that, you should be updated with the latest devious schemes fraudsters use so you can protect yourself. As soon as you receive your credit card, immediately sign on the back portion of the card so no one else may be able to use this.

Once you have started using your card, ensure that you file the hard copy of your sales slips after every purchase. Once your monthly statement of account arrives, check all your transactions against your filed slips. You may then shred your sales slips, but you have to file your statements. You may cull your monthly statements after two years. Aside from cross referencing your sales slips against your monthly bill, you have to ensure that there are no double posted transactions or suspicious transactions in your card. If you discover charges which you believe are not yours, call your card’s customer service hotline right away to report these disputed transactions.

Are you fond of online shopping? If you are, then you have to be very protective of the three digits at the back of your card. These numbers are required by the online stores in order to complete your online purchase. You should not share your complete credit card details (namely your card number and the three digits at the back of your card) because this will allow others to charge their online transactions to your card. Ensure that you clear your login details (userid and password) after you have used a public computer so that no one will be able to access your account later. For further protection, make it a habit to change password every thirty days.

One very convenient and safe method of banking these days is online banking. Enrolling and using the online banking facilities of your bank is highly recommended because this allows you to monitor your bank and credit card transactions online, all the time. If you receive a purported call from your bank, ensure that you do not give out any vital information about yourself and about your credit card account. It would be prudent for you to inform your caller that you will be calling the bank yourself for further clarification. Remember, no banking institution will be asking you to dictate your Personal Identification Number (PIN), nor do banks require you to give out the 3 digits at the back of your card. Be wary and wise, and protect your credit card from fraud.

The author gives advice when it comes to credit reports in South Africa. To read more visit creditcardsa.co.za

Article Source:
http://EzineArticles.com/?expert=Dawie_Bester

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