Risky Business: How To Keep Your Credit Card Safe

Risky Business: How To Keep Your Credit Card Safe

According to the latest Bank of England figures the nation is back to splashing out on plastic, albeit not at the 2007 boom level, the spending will be definitely on the rise. It's time again to make sure you won't be caught off your guard while shopping.

It goes without saying that every time you use your credit card you are at potential risk of having your details stolen. Unfortunately it's an undeniable fact of modern life and you should be constantly aware of it. However, it's not all bad news and there are some safety measures you can adopt to minimise your chances of being a victim of a credit card fraud. When about to use your credit card always ask yourself: is it safe? Or, can the following occur: online fraud, skimming? Let us investigate these two terms respectively.

Probably the most important thing to note is to ensure you buy from online retailers that you know and trust. There are hundreds of fairly dodgy e-commerce sites which may have many security issues, ideal places for online thieves to snatch your identity details. Always check if the website has been secured with SSL (which stands for Secure Sockets Layer) and runs current security certificates.

Open up a Paypal account. Paypal acts like a step in between and allows you to pay for online items without revealing your credit card or bank information to retailers. What's more, it is relatively easy to use and you don't have to type in your card details when paying for your items. Try not to save your billing information on retailers' websites as you can't be sure who has access to their databases.

Skimming can be described as a 'theft of credit card information used in an otherwise legitimate transaction'. It can occur any time you hand your new 0 credit cards over to employees such as waiters, cashiers, or bartenders. Once they are in possession of your card, they can copy down the cardholder's name, card number, expiration date and 3-digit security code. All you need to go on a shopping spree. Would you consider taking out some cash before going out?

Other places vulnerable to skimming activities are ATMs. By installing card-reading devices called skimmers that look like a part of the machine itself, thieves can steal bank account information, PINs, and credit card numbers. If you think that your cash machine has been tampered with or has been set up in a secluded area don't take your chances.

There is no doubt that credit card theft is hard to detect. By applying some common sense extra checks you can prevent your card from falling into the wrong hands. Think of any ways to improve your security, even simple daily checks of your statement or sensible disposal of receipts can be a life-saver. Keep your eyes peeled.

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