Simple Tips to Avoid Credit Card Fraud

It seems as if the stories in the news about credit card fraud continue to pop up throughout the country. I thought it might be worthwhile to review a few simple tips to avoid credit card fraud

First of all, when you get your credit card, be certain to sign it as soon as you get it. Some people think it is better not to sign your credit card, believing that it only gives the “bad guy” a look at how their signature looks. This simply isn’t the case. Leaving the signature area blank only makes it easier for the thief to put his or her name in that spot. Putting a message such as “See photo ID” is also not really a good idea either – and, technically, it is not legally proper.

When carrying your card with you, be sure to keep it separate from your wallet or purse. If you lose either of these items – or if they get stolen – you will have lost your cards as well. In addition, keep your account information and the contact information for the credit card companies safely tucked away at home. That way, if something does happen to your cards, you can call the credit card company and put a freeze on your account.

When you do use your credit card, it is imperative that you always watch what is taking place with your card. Even a few seconds out of your sight is enough time for a thief to scan your account number and ring up charges on your card.

Here’s another simple yet effective way to avoid fraudulent charges: make sure that you NEVER leave any blank lines on the credit card receipts that you sign. For instance, after buying take-out food, many people negelect to fill-in the “Tip” and “Total” lines on the receipt and simply just sign the receipt as is. NEVER DO THAT! If you want to leave a tip, make sure to total the receipt with the tip included. If you don’t, leave a “0″ with a slash through it in the tip line and be sure to total the charges. If you don’t, someone can easily add a nice big healthy tip to the receipt. Many times these fraudulent charges are hard to track down and reconcile on your card statements. So, be sure to total all of your card receipts before signing them. The same is true for blank receipts – never, ever sign one of those!

Along the same lines, you should never give out your credit card information over the phone unless the company is one that you know and trust. The same is true for writing down your credit card information on a piece of paper or on an envelope.

You should also always insist upon getting a copy of your receipts for your records. That way, you can double-check the charges that are posted to your account. When you get your statement each month, be sure to check the charges against your receipts and to immediately report any suspicious activity. By following these few simply tips, you will dramatically decrease your chances of being taken advantage of.

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This entry was posted on Sunday, April 15th, 2007 at 4:56 pm and is filed under Card Security. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.