Five Steps to Avoid Credit Card Thieves
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Your credit card information could ultimately be used to fund a thief's seemingly legitimate business. Once someone steals your credit card data, the data could wind its way through a series of hands, including those of a credit card counterfeiter. The counterfeiter could use your stolen data to create a fake version of your card and then sell the fake card to the highest bidder. Then, the person who buys the counterfeit card can use it to buy goods for his business to resell to unsuspecting consumers, reaping profits on your dime. It's not until you realize that your credit card has been compromised that you can take action to close the account.
Destroy Personal Information
Invest in a cross-cut shredder and use it. Promptly feed your shredder all of your unwanted credit card offers. If you trash them without shredding, an identity thief could possibly apply for the card in your name, receive it and use it to make illegal transactions. Also, shred unwanted credit card bills and other documents that contain your personal information. To cut down on the paper trail, check with your creditors and banks and see if they offer a paperless option.
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Cast a critical eye on any emails you receive asking you to "click here" and disclose your personal information. Credit card thieves can create fake emails that direct you to a website that looks familiar and secure such as your banking website. Once you enter your information, and click "Submit," the thieves have what they need to exploit your financial information. Always call your creditor directly and verify suspicious emails. As a safeguard against spyware and malware -- programs thieves use to retrieve data from your computer -- install firewalls, anti-spyware, anti-malware and anti-virus protection on your computer. Also, never give out credit card information on the phone. If someone claiming to represent your creditor calls you and asks you for personal information relating to your account, ask the person for his name, phone number and extension and tell him you will call him back. Hang up and call your creditor at the number listed on the back of your credit card. Report the incident.
Pay Attention during Transactions
Avoid situations where a waitress or other employee of a business takes your credit card out of sight to complete the transaction. Unfortunately, an ice cube-sized device called a skimmer exists that allows thieves to record your credit card data instantly. Also, thieves can take a picture of the front and back of your credit card with a camera phone and use the data to make unauthorized charges. They can also swap out your card with a dummy card that you might not notice for several days. Further, be wary of a cashier who turns his back to you while making the transaction.
Monitor Your Mail and Credit Card Statements
If you receive credit card statements in the mail, know when they arrive and be on the lookout for them. If a statement doesn't arrive as it normally does, contact your creditor and state that you suspect that someone may have stolen it. Open all your mail to check for letters denying or granting you credit based on requests that you did not initiate. A thief may have tried to apply for credit in your name. Also, monitor your credit card activity online every few days to catch any fraudulent activity. Report anything you find to your creditor immediately to reduce your liability for unauthorized charges. In addition, find out if your creditors offer cell phone alerts when any activity occurs on your account. When a transaction is made, you'll receive an alert.
Avoid Public Computers and Networks
Sometimes you have to use a public computer or network, but don't use them to make financial transactions or to log in to your credit card or bank accounts. Thieves may have installed spyware or other malicious programs on the public computer to capture users' data. Also, thieves can capture sensitive data from unprotected computers on public Wi-Fi networks. Install encryption software on your laptop to protect your personal information. Encryption software makes it difficult for thieves to unscramble data you send over a wireless network.
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