December 07, 2009
Safety of Credit Cards
Watch For Scams is dedicated to helping you avoid becoming a victim of fraud.
If you like this ezine, do a friend a big favor and forward this to them. If a friend forwarded this to you, and if you like what you read, please subscribe by visiting the link below:
Safety of Credit Cards
With Christmas fast approaching, retailers are waiting for the spending boom. A lot of purchases are made using a credit card, so it is timely to provide some tips on how to prevent becoming a victim of credit card fraud.
To minimise your chances of fraud whilst shopping online, you should:
• Sign up to Verified by Visa or MasterCard SecureCode whenever you are given the option whilst shopping online. This involves you registering a password with your card company. By signing up, your card will have an additional level of security.
• Only shop on secure sites. Before submitting card details ensure that the locked padlock or unbroken key symbol is showing in your browser. The beginning of the online retailer’s internet address will change from ‘http’ to ‘https’ when a connection is secure.
• Never disclose your PIN to anyone and never send it over the internet.
• Print out your order and keep copies of the retailer's terms and conditions, returns policy, delivery conditions, postal address (not a post office box) and phone number (not a mobile number).
• Ensure you are fully aware of any payment commitments you are entering into, including whether you are authorising a single payment or a series of payments.
• Consider using a separate credit card specifically for online transactions
To minimise the chances of becoming a victim of card fraud:
• Look after your cards and card details at all times.
• Try not to let your card out of your sight when making a transaction.
• Never leave your cards unattended, e.g. in a bag, briefcase or jacket pocket in a public place.
• Check receipts against statements carefully. If you find an unfamiliar transaction, contact your card company immediately.
• Store your statements, receipts and documents that contain information relating to your financial affairs safely and destroy or preferably shred them when you dispose of them
• Cut expired cards through the chip first and then the magnetic stripe.
• Pay attention to card expiry dates. If your replacement card hasn't arrived call your bank or building society to check the status of your new card.
Remember - always watch for scams!
Steve