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Credit Card Tips / 7 Tips to Avoid Credit Card Fraud

Know these seven credit card tips for a financially rewarding life.

Credit cards come in handy when you need extra funds. Users can use the card to purchase almost anything from groceries, gas, household items, etc.

It is also useful when buying big-ticket items such as appliances, health care insurance, or even your travel expenses for plane tickets and hotel accommodation.

But owning a credit card entails responsibilities. Hackers and online fraudsters are rampant now. 

Cybercriminals are just waiting for the right timing to grab your personal information, such as your bank card details, so they can milk whatever funds you have in your bank cards.

Fortunately, there are ways to protect yourself and your personal information from getting into the hands of these evils. Here are seven ways that you should know to avoid becoming a victim.

credit card tips

1. Sign your credit card as soon as you receive it.

Ensure you affix your signature the minute you receive your credit card to avoid someone signing and using it to make in-store purchases. 

Chop up old credit cards, especially the portion wherein the magnetic stripe and chip are located.

2. Do not share your card with your friends or family members.

Never give out your cards to anybody, even to your family members. You won’t know what they will do with your card and will end up paying huge bills for purchases you do not make.

3. Keep your credit card in a safe place to prevent it from getting stolen.

Store your cards in a secure wallet or purse. After making a purchase, immediately return your card to that place.

4. Keep an eye on your card and the person handling it when using it in stores and services.

Criminals are crafty, and your credit card details can be stolen in multiple ways. Don’t let your card goes out of your sight. You won’t know if it’s being tampered with. 

5. Do not save your credit card details on public or shared devices.

Do not use wifi for online transactions. Using a data connection at home is much safer because not many people use it daily.

6. Keep your Card Verification Value (CCV) and One-time Password OTP confidential. 

The CCV and OTP are your signatures when using your card or withdrawing money. Giving this information to fraudsters would provide them with access to your card. Never share this with anyone, including those pretending to be bank personnel.

7. Enable your mobile banking notifications. Keep track of your transaction and immediately inform your bank if you notice anything unusual.

Make it a habit to look through your monthly statement to check for suspicious transactions.

Final Thoughts

Don’t become a victim of credit card fraud. Knowing the seven tips will most likely thwart any attempt to defraud you. Consider the financial and emotional damage you will experience should you be involved in credit card fraud.  

Using your credit card responsibly and enjoying its many rewards is practical.

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21 Comments

  1. Thank you so much for the information. Although some of these tips are evident, I can’t count the times I was a big negligent with my cc.

  2. wonderful tips! always welcome because we use cards all the time and a little more education never hurts really.

  3. Great tips! I’ve always been good at budgeting and debt pay off but it helps to see the law tips.

  4. We’ve had our credit card used for fraud a few times. It’s so hard because we do all of these things, and it still happens. The one I am bad about is putting my card in my pocket instead of back in my wallet and then I find it later when I am about to do laundry!

  5. Notifications are absolutely essential in ensuring your credit safety. You’ll know as soon as anything happens!

  6. Melanie E says:

    These are all really helpful tips. It is worrying as scammers are finding new ways to cheat people out of their money.

  7. Krystle says:

    These are great tips! I need to keep a closer eye on the clerks.

  8. These are all good ways to avoid fraud. We have dealt with identity theft and we are quite careful.

  9. Lily says:

    Credit card fraud is the worst. Thanks for sharing info.

  10. Credit card fraud can happen to anyone. It’s important to keep your card details protected, and yes, turn on your notifications!

  11. Great tips, I have never experienced something like this before. So, I will keep these in mind just in case.

  12. Gervin Khan says:

    Awesome tips we can do to help and protect our credit cards. I agree credit cards are very reliable in using the right way. It gives the owner flexibility and manages expenses! Great reference, I’ll note everything! Thanks.

  13. Rose Ann Sales says:

    These are all really great tips! Thank you so much for sharing this information!

  14. These are great tips! We recently had some fraudulent activity on one of our accounts and I was really surprised that the bank didn’t catch it right away. I happened to have saw it though and the bank was quick to fix it.

  15. Great tips. I used to work and banks and we always emphasize these tips on how to avoid credit card fraud.

  16. Ooohhhh…these are good tips I am learning today. I haven’t used a credit card and these tips prepare me for what’s out there, in their world. Thanks for sharing them.

  17. Neely Moldovan says:

    Thankfully my husband has made sure I always have securities in place to avoid fraud.

  18. I had credit card charges on my card that weren’t mine, and so did my sister-in-law. It’s easy for people to rack up the debt, but sometimes not easy to prove it wasn’t you!

  19. With Scammers and cyber fraud increasing everyday, it is important to be cautions. These are some amazing tips. I do follow a few of them. Important one is not to share the OTP with anyone.

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