Credit card fraud is a major concern for consumers, as 130,000+ victims fall victim to this type of fraud each year. It's a hassle that no one wants to deal with because it can quickly ruin your credit score in the process.
As experts in cybersecurity in Miami, we do have a few recommendations that you can use to protect yourself from credit card fraud.
5 Ways to Protect Yourself from Credit Card Fraud
1. Only Make Purchases on Trusted Websites
If you receive emails with links to deals on products or see a link to purchase items on social media, you need to:
- Review the landing page to make sure that you’re on the true website and not a fake one
- Research new websites to ensure that they’re trustworthy retailers
For example, you may click on a link that looks like Amazon, but the site is “amazonretail.com” and not the official site. Make sure that the site you’re visiting is a real site and is from a trusted store.
2. Look for HTTPS When Checking Out
Navigate to the site’s URL and see if the URL says: “HTTP” or “HTTP.” The “HTTPS” means that the site is using encryption and will encrypt any data that you transmit to the site. In this case, it would be your credit card information.
3. Don’t Allow Websites to Remember Your Credit Card Number
Allowing websites to remember or store your credit card info may be convenient, but it’s also a major security risk. If the site doesn’t encrypt your data properly or if there’s a security breach, it can allow your credit card information to get into the wrong hands.
Instead, take the time to input your credit card information when making payments and only use trusted devices.
4. Review Your Credit Card Statements
When you receive your credit card statements, spend the time going through them and reviewing any charges that you don’t recognize. Often, suspicious charges are overlooked, especially during major shopping seasons.
You should spend this time annually reviewing the statements you receive and verifying any charges that you have during the billing period.
This tip goes directly into our final one.
5. Report Lost Cards Promptly
If you lose a credit card or you notice charges that are not from you, call the credit card issuer immediately. You can have the card frozen and a new one sent to you. Freezing your credit is another option and will prevent any additional charges from being made to your accounts.
You can also sign up for credit monitoring services, which will scan your credit and alert you to any suspicious activity on your account.
Remaining alert and taking rapid action if someone does steal your card is the key to reducing the damage fraudsters can cause.
We’re confident that if you follow the recommendations above, you’ll be far more likely to protect yourself from credit card fraud. Fraudsters target easy targets, and if you add extra layers of protection to your credit card’s security, it will reduce your risk of becoming a victim of fraud.