Tips On Preventing Credit Card Fraud

Using a credit card is one of the safest ways to make a payment

, but some consumers still fall victim to fraud at some point. When consumers are using this type of card regularly to make purchases, they should be aware of how to prevent fraud from taking place. Here are a few tips to eliminate or reduce the possibility of fraud.

Report Lost Cards

When a card is lost or stolen, the cardholder should report it immediately to the card issuer. The card issuer can then deactivate the original card and issue a new one to the account holder. At that point, the original card will not be able to be charged for any purchases by an identity thief. According to federal law, cardholders are only liable for a maximum of $50 in fraudulent purchases on a credit account. This means that as long as the cardholder reports the loss, he will only have to pay a maximum of $50 if fraudulent purchases are made.

Shopping Online

Many people use their cards to shop online and make purchases. While using these cards can be an easy way to pay online, users have to be careful. Before entering card information into a website, the user should make sure that he is dealing with a reputable site. The user should make sure that he is on a secure website by looking at the Web address in the browser. The address should start with "https" instead of the regular "http." This shows that the site is on a secure server and no one can gain access to the card information while it is being transmitted.

The user should also look for other signs that indicate he is dealing with a reputable website. For example, there are a number of security and verification programs that a site could be a member of to help put visitor's minds at ease. These programs often offer emblems that can be put on a site to show that they are trusted.

Protect Card Information

Users should also do everything they can to protect card information from being stolen. Users should try to always keep their cards in sight when making a payment. Instead of allowing an employee at a store to take a card into another room or out of view, the cardholder should avoid this. Some people get in the habit of leaving their wallet or purse sitting on a counter while writing a check or making a payment. During this time, it can be easy for identity thieves to look in the purse or wallet and get card information. Cardholders should strive to keep their cards hidden from other people as often as possible.

Considerations

Some credit card companies offer $0 liability protection. If a cardholder has this type of protection, it means that he is not responsible for any fraudulent charges made on his card. If a fraudulent charge is made, he can simply report it to the card issuer and the charge will be removed. This protection goes above and beyond the $50 liability limit that is set by federal law. Card issuers don't have to offer this type of protection, but some of them go the extra mile to make their customers feel completely safe when using their cards to make purchases.

by: Abby Crowhurst

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