. . . but a few seconds to wreak havoc on your life. In seconds, he can have all the data he needs to spend your money at will and you might not know it for days. He walks away smiling, while you will spend hours, maybe days, clearing up the mess he left for you to resolve.
Credit card issuers take special care to deter credit card fraud and counterfeiting. Unfortunately, one of the most frequent causes for credit card theft happens with cards that are either lost or stolen. Thieves can rack up hundreds of dollars in charges on your card within hours of obtaining it and you won’t know it until the bill comes or you get notified of unusual charges on your card by the issuer.
Merchandisers are on the lookout for stolen cards. They watch for cards that are taken out of pockets, are used to pay for expensive items, and keep a watch out for users with a lot of haphazard purchases or clumsily signed sales drafts. They become suspicious when customers can’t produce a photo card when requested and watch for mismatching signatures and other telltale signs that may indicate the card is being used illegally.
You can take precautions to protect your cards. A few seemingly simple steps can keep you and your credit out of trouble. Never, ever, leave your cards at work. Why? The bulk of stolen cards are taken at work, believe it or not. Don’t write your pin number or security code down because your card is programmed to be used at ATM machines. Thieves with pin numbers head straight to the nearest ATM and get your cash. Also, don’t leave your cards in your car, as cards taken from vehicles rank second on the stolen card hit list.
Look out for the bait and switch. Look at your card when you get it back from cashiers. Yes, they have been known to give you an expired card back, keeping your card to either sell or make purchases. Again, thieves usually use the cards within hours of attaining them.
Heading on a trip? Secure your cards. Check them before putting them back in your purse or wallet after use. Travelers are more apt to lose cards. Don’t give the waiter or waitress your credit card and don’t place it in the black check folder they lay on the table as a convenience. Pay at the counter as you leave.
Other tips include: Report your missing cards immediately. Sign the back of your cards, don’t put ask me for ID. IDs are easily stolen, too. How is a clerk fifty miles away from your residence going to know what you look like? They’ll produce a fake ID and use your card without difficulty. Check your monthly statements and report charges you did not make immediately. Don’t give your card number over the phone to companies that you don’t do business with regularly.
Thieves are sneaky. While standing in a checkout line with your card in hand shield it from prying eyes and cell phones with cameras. That person behind you isn’t checking their email or playing the latest video game – they’re taking a picture of your credit card while you are using it. Once they have the number, and they can snap a picture of the three digit security code on the back, too, they scramble away and start making charges.
Do you shop online? Take these precautions. Do not send your information back to email inquiries from your bank or credit card issuer – they don’t send emails requesting verification of your number. This is what’s known as a “phishing” email. The thieves want you to respond with your credit card information. If you think your credit card company wants to verify your account, CALL them on their 800 number. If it’s a bank card, go to the bank to verify it with them.
Make sure the website you shop at has a secure padlock on the bottom of the page. The address for the secure location should start with “https”. The “s” at the end signifies the transfer is a secure one; it’s called a secure socket layer. Don’t give your card number to solicitors or telemarketers, even those saying they are from reputable charities. Send your donations by check; a stamp is less costly than the costs involved with rectifying your credit standing.
Credit cards are convenient. Use them with care and you should be able to avoid problems.
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