Guarding Against Credit Card Fraud

From Financial Literacy Wiki

Jump to: navigation, search

Guarding Against Credit Card Fraud: Do's and Don'ts

DOs

  1. Sign your cards with permanent ink as soon as you receive them.
  2. Keep a record of your credit card details such as your credit card numbers, expiry dates and card issuers phone number and address in a secure place.
  3. Always keep an eye on your card during transactions, and get it back as soon as possible.
  4. Read all details (especially the transacted amount) in the sales slip before signing or confirming the transactions
  5. Draw a line across any blank spaces for entering money amounts when you sign a sales slip.
  6. Cancel incorrect sales slips and tear up any cancelled slips or carbon copies.
  7. Save sales slips to compare with billing statements.
  8. Mail Cheques with your card number on them in opaque envelopes.
  9. Tear up pre-approved credit offers before throwing them away.
  10. Inform card issuers immediately when you change your address. If possible, inform them in advance.
  11. Keep your cards in the same place after use. This way you will notice immediately if they are missing.
  12. Patronise only reputable or legitimate online stores.
  13. Install and update regularly firewall, anti-virus and anti-spyware in your computer to minimize chances of malicious codes, worms or viruses being loaded into your computer.

DON'Ts

  1. Sign a blank sales slip
  2. Give your credit card details to an unknown party.
  3. Do not disclose your Password or PIN to anyone.
  4. Lend your Credit Card to anyone
  5. LEave your credit cards or sales slip lying around at home.

Personal tools