Best Ways to Protect Yourself from Credit Card Fraud

Using credit cards responsibly can reduce your risk of credit card fraud, but it is still possible to be a victim of identity theft when you make purchases online or leave your credit card at the store. Credit cards offer many conveniences and perks, and if you are able to pay off your balances in full each month, can even help you balance your budget. Unfortunately, too many people become victims of identity theft and credit card fraud because they failed to check the security measures in place during checkout, or they just worked with a bad seller.

Whether you’re making a purchase online or shopping at the mall, here are some of the best ways  to protect yourself from credit card fraud:

1. Check your new credit card thoroughly. If you have just received a new credit card in the mail, make sure the envelope is completely free of any tears or rips and doesn’t look like it has been tampered with. Make sure that you call in the card for verification immediately, and that you have removed the sticker on the front of the card. Sign the card as soon as you confirm verification and store it in your wallet or other safe place right away.

2. Make sure you make purchases over a secure connection. Always make sure that any credit card purchases are done over a site that has  https:// at the beginning of the URL. You can also check the bottom right hand corner of your browser to find out if you are working with an encrypted site. A secure checkout process reduces the risk of credit card fraud and identity theft.

3. Read emails from credit card companies carefully. Many credit card companies fall prey to hackers and are victims of spam. Make sure that any emails you receive from credit card companies are actually from the credit card company and not a third party. Don’t click on any links embedded within the email that encourage you to visit your account page or log in. Log in separately every time and contact your credit card company if you suspect that the email is not real. Taking preventative measures can reduce your risk of credit card fraud and having your identity compromised.

4. Monitor your account activity regularly. Even if you don’t use your credit card for several weeks and months, check the statement and account activity regularly to make sure the card is not being used by someone else. Catching a thief early can prevent severe damage to your credit report. Get into the habit of monitoring your account activity regularly so that you don’t become a victim of identity theft and credit card fraud.

5. Don’t share your credit card. Don’t lend your credit card to a friend or family member, and never disclose your credit card number and other information in a standard e-mail or other type of correspondence. Take steps to ensure your credit card information stays safe and out of reach of others.