Digest this: Only 65 million credit card numbers are been used out of 10 trillion possible combinations!
Sounds safe, right? Figures like these make you believe that chances of a criminal landing upon your account number are fairly low.
But the reality is somewhat different. Identity theft, data breaches, and credit card frauds are on a steady rise more than ever. This is why it is highly recommended to stay aware of all major credit card related threats you might get exposed to.
Stay Away From These Credit Card Threats
1. Identity thefts
According to an estimate by the Federal Trade Commission, more than 9 million Americans suffer from identity theft annually. The credit-card frauds obtain your crucial personal information like social security number or credit card data to open accounts or take loans in your own name, thus hurting you financially.
What’s more, they even destroy your credit card history, and make it tough for you to obtain loans, and avail other services that rely on credit card score.
2. Tricking you by pretending
According to CreditCards.com, scammers are trying weird ways these days to extract credit card details from you. They pretend to be your credit card company, and notify you of the suspicious charges on your account and make you believe that you are the one responsible for the levied charges.
They might go ahead and persuade you to reveal the credit card details through which they can have a look at your account history.
There also have been incidents when scammers pretend to call from the hotel you are recently going to stay at and ask for your credit card information saying that there was a problem with the hotel’s computer system and the booking is not confirmed yet.
3. Phishing
Many times, scammers send genuine-looking emails to the credit card owners and ask them to update their information on a website which seemingly looks authentic, but it is not.
4, Free Wi-Fi hotspot
Scammers know your weaknesses, and free Wi-Fi hotspots are one of them. They often set up an open Wi-Fi network without a password to trick you. They then use this network to steal your login details along with other important information.
Getting access to your important details can empower the scammer and help them in committing credit card fraud.
How to Be a Safe Credit Card User?
● Use a VPN
Using a VPN is a necessity today, all due to the increasing cyber threats. Most reliable VPN services work by routing all your web traffic through a secure tunnel. They encrypt your data using the latest protocols and ensure complete confidentiality of your online identity and information. This way, a VPN protects you from online hackers, stealers, and cyber frauds.
● Be vigilant
One of the best ways to protect yourself from getting scammed is to be vigilant. Keep all your bank details, transactions, and other sensitive financial information in check.
Keep inspecting your account statements, credit card statements and watch out for any unusual transaction or fee. Downloading the mobile apps of your bank to keep a close eye on all your accounts can prove to be a lot useful here.
Additionally, setting up mobile alerts for your transactions also works wonders and notifies you of any unusual activity.
● Manage your passwords
In this digital age when everything can be accessed just with the right PIN, it is essential to use a strong password that is hard to guess and is not related to your life in any way. You can make use of password managers like LastPass and 1Password for this purpose.
It is also highly recommended to keep changing your passwords quite often.
● Log out after accessing your account online
No matter if it is your personal machine, or you are accessing your account on a public computer, it is important to log out of all the websites. This will keep your personal information protected and safe.
● Disable autofill
While autofill might sound like a lifesaving feature, it is not recommended to use. This feature fills out all the important details for you on the go and helps you save some precious minutes. But here is the catch: autofill can be misused. Thus, stay cautious and disable it for your safety.
● Look for https
While submitting your important information online, accessing the bank account, or shopping online, make sure that you check the website address and ensure that it starts with HTTPS and not HTTP.
● Get additional protections
You can ask your credit card service provider to provide you with additional protection. MasterCard, for instance, allows you to sign up for MasterCard Secure Code which asks for a six-digit code every time you make a purchase. Other similar programs include Amex SafeKey and Verified by Visa.
The Wrap Up
As they say, your security is in your hands! Thus, take the proper measures in the right direction and stay safe.
Got any queries? Write to us in the comments below.
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