Tips For Avoiding Credit Card Fraud

Tips For Avoiding Credit Card Fraud

Tips For Avoiding Credit Card Fraud

Then the bartender uses that information to buy things on the Web or by phone, where there is no need for the physical card.

Watch out for waiters or bartenders who change the amount of the tip on your bill and then submit it for processing. The only way to catch this trick is to keep the customer copy of your receipt and compare it to your monthly credit card statement for any discrepency. If you leave a cash tip on the table, cross out the space in the card receipt for this concept, and write in "tip left on the table." This will prevent waiters from just adding a tip to the blank spot.

Here's another scheme: you receive a letter announcing that you've won a free trip and you have to become a member of a travel club to take advantage of the offer. The letter may provide a website address and on that page, which might look very official, they ask you to enter your credit card information. Don't fall for it. Never give your credit card number to any organization you aren't 100% familiar with.

Other Credit Card Tips

When you get a new card, sign the back of it right away.

Save all receipts and supporting documents for payments and cash withdrawals on the card in an envelope. Check with your monthly statement to compare it with these receipts but don't throw the statement (or the receipts) in the trash without shedding.

If you change your address, immediately notify your new address and make sure the letters are still in your old address is collected by someone you trust.

Never write your card number or PIN number on a piece of paper that you keep in your wallet with the cards. Even worse, don't pencil in your PIN number on your card.

When paying in public with a credit card, cross out all the spaces above the signature to which you can include other items and new totals.

When shopping online, make sure the website where you buy is secured. The website should have a SLL certificate and display it on the web, or at least have and address that begins with "https." The "s" stands for secure. You should also see a little closed lock symbol or similar symbol in your browser when you are on an https site.

If you have to give your card number over the phone, make sure you can verify the authenticity of the company you are dealing with.

Check your statement regularly. If you see a purchase that you do not recognize, call your card's fraud protection hotline. Or research the supposed name of the retailer from which you made the purchase. The longer you wait to look at your statement the harder it will be to recall and verify purchase amounts. Nowadays you can go online and check your statement as often as you look. It's a good habit to get into.

RESOURCE BOX

David Pratt works for MiCash debit MasterCard in Washington DC. He blogs about personal finance, prepaid cards, credit cards, and prepaid credit cards on the MiCash blog.

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