How To Avoid Credit Card Scams?



Due to digital payments, cash transactions are largely decreasing. Credit cards are the most convenient and secure way to make payments online and in-store among these options. Many merchants now accept credit cards. This is especially true when buying metro and bulk items. Many credit cards offer amazing offers like rewards program, cash back offers, travel insurance etc. Due to this many people are interested in using credit cards more often.

This aside, credit card fraud is also on the rise. You should take adequate measures to protect yourself from this. Here are a few tips to help you protect yourself from credit card fraud.


Keeping Card Details Safe

Do not share your PIN, CVV line or full credit card number with anyone via email or phone. Banks will never ask for this information through such channels. Monitor your credit card transactions periodically through online banking or mobile applications. Report any unauthorized transactions to the bank immediately.


Secure Online Transactions

Make sure you are using a trusted website and secure internet while shopping online. Avoid using public Wi-Fi while doing credit card transactions. Always follow your bank’s regulations regarding cyber security. Avoid entering your credit card details on dubious websites.

Monitor Statements

Check your credit card statements regularly to find out if there are any transactions you are not aware of. Many banks send SMS or email alerts for transactions. So, report any suspicious activity like this immediately.

Use Security Features, Enable Transaction Alerts

Don’t fail to use the security features provided by the bank. You can take advantage of features like spending limits, two-factor authentication or mobile wallets that don’t require you to share your real card details. This will send you an alert for every transaction you make using your credit card. Always keep your credit card contact details up to date with the bank. Use cards with EMV chip technology.

Keep cards safe

Always keep your credit cards safe. Be very careful when using credit cards in stores or restaurants. Beware of skimming devices that can steal your card details. Shred and throw away old credit card statements and receipts.

Mohan Subramanian

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