Credit card scams and theft are big concerns for consumers. The time and energy that is required to fix the damage done can be daunting; prevention is the key to saving your sanity. Here are some tips that can help keep your credit card out of the hands of a crook.
Protect Your Cards
Never let your card out of your sight. When paying a merchant, hand carry the card to the register and wait while the transaction is processed.
Never lend your card to anyone - even those whom you trust to be honorable.
Only carry the cards you will be using and separate from your wallet or purse.
Safeguard Your Account Numbers
Never give your account number to anyone over the phone or on the internet that you have not personally contacted no matter how official or legitimate they may seem. Reputable and legitimate companies will never contact you for your personal information.
Never follow an e-mail link that asks for verification of your identity by sharing personal information. These are called 'phishing' scams.
Never write your account number on the check's memo line or envelope.
Never leave credit card receipts lying around. Shred them after you have verified them with your monthly statement.
Applications and PINs Make You Vulnerable
Shred all credit card applications you receive regardless of whether you invited the contact. Thieves can take this information and pass themselves off as you.
Upon receipt, sign all credit cards.
Never carry your credit card along with your PIN. Memorize it!
Shield your PIN number when using an ATM.
Monthly Statements / Records
List all credit account numbers, expiration dates and contact information and keep in a secure place.
Keep a list of all automatic payments that are authorized to each account and be sure to check for these payments each month.
Reconcile your account with your receipts, as soon as your statement arrives.
Report any errors to the credit card company immediately.
Notify all creditors if you change your address.
Most credit card companies have toll-free numbers and 24-hour service to deal with emergencies and are eager to help you prevent credit card fraud. According to US law, once you have reported the loss or theft of your credit card, you have no more responsibility for unauthorized charges. Your maximum liability under federal US law is $50 per credit card -- and many credit card issuers will even waive that fee for good customers.
