Guarding Against Credit Card Fraud
From Financial Literacy Wiki
Guarding Against Credit Card Fraud: Do's and Don'ts
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DOs
- Sign your cards with permanent ink as soon as you receive them.
- 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.
- Always keep an eye on your card during transactions, and get it back as soon as possible.
- Read all details (especially the transacted amount) in the sales slip before signing or confirming the transactions
- Draw a line across any blank spaces for entering money amounts when you sign a sales slip.
- Cancel incorrect sales slips and tear up any cancelled slips or carbon copies.
- Save sales slips to compare with billing statements.
- Mail Cheques with your card number on them in opaque envelopes.
- Tear up pre-approved credit offers before throwing them away.
- Inform card issuers immediately when you change your address. If possible, inform them in advance.
- Keep your cards in the same place after use. This way you will notice immediately if they are missing.
- Patronise only reputable or legitimate online stores.
- 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.
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DON'Ts
- Sign a blank sales slip
- Give your credit card details to an unknown party.
- Do not disclose your Password or PIN to anyone.
- Lend your Credit Card to anyone
- LEave your credit cards or sales slip lying around at home.
