Credit Card Fraud And What To Look Out For

A fairly straightforward and simple way for a thief who has knowledge of credit card fraud to “make a living” is by stealing credit card numbers, at least for a short period. Now, you may be thinking you are very safe but lets look at some facts.

I have used my own credit cards on the internet thousands of times without any issues but even though I use my cards in stores and restaurants far less, I have been defrauded this way – in a gas/petrol station as a matter of fact. I will happily go on using my cards on the internet on a daily basis but would be more wary of using them offline.

So how can we be the victim of offline credit card fraud? Nothing new here – its called “skimming”. What is skimming? Its where, for example, you give your card to a waiter or waitress in a cafe or coffee shop to make payment. Shortly they return your card to you and you think nothing more of it. What has happened though is that the card has been “swiped” for payment, not once but twice. So your card details are now being stored in a magnetic card reader which can then be downloaded to a computer for use.

The only way to be sure this has or is not happening to you is to regularly check your card statements. Often thieves will make very small transactions so you are not aware of them, so its wise to go through your statement carefully.

Banks and other financial institutions have powers to compensate you in full should you be the unfortunate victim of credit card fraud but should be any reason for complacency. They will not always compensate you which is what happened to me, although thats a long and rather complicated story.

Here are a few things you can do to limit your risk:

- any thing other than your credit card statements or any other valuable document pertaining to your credit card you should shred or burn. Do not just simply throw it in the bin and presume it will be safely disposed of

- if you are asked to verify some of your credit card details over the telephone, you need to question this seriously. Who is the caller and why do they need your details and do you trust this person enough to provide the details?

- do not lend you credit cards to anyone unless you trust them implicity

- only carry the credit card or cards that you need and leave the rest in a safe place

- do not leave any credit card slips lying around or do not just simply throw them in the bin

- keep your card receipts and check them regularly against your statements

- if you are moving home then do let your credit card company know well in advance of your move

Simple ways to keep your credit card safe and your money secure, so its just a matter of being aware and remembering just how easy it is to be a victim of credit card fraud.

Click the link for further details of low interest and 0% interest credit cards. Or if you need credit card help, you can find this too.