April 09, 2012

Smart Tips To Avoid Credit Card Frauds S

As the technology for making life comfortable progressed, so did fraudulent techniques to trick credit card holders. No matter how safe your wallet is, fraudsters find ways to use your credit cards without your knowledge. This may be because somewhere, at some point of time, you were not careful with your credit card details. 

The following are a few steps to ensure you do not fall prey to tricksters:


Avoid sharing card information 
One of the most common ways for credit card scammers is calling up the cardholder as a customer service representative, and extracting confidential details. It is important to be extremely cautious while giving out your credit card number or any other confidential data over the phone. A bank or financial institution never initiates calls asking for such information. Provide your credit card details only if absolutely necessary on calls that you have initiated to bank authorities or the helpline number given on the back of your card. 

Keep credit cards at safe locations 

Store your credit cards in your wallet or purse, which ensures that it remains close to your body, and cannot be snatched away easily. It is also safer to carry only a couple of credit cards rather than multiple ones while shopping. After paying for the purchase, make sure you put the card back immediately. 

Use credit cards safely on the Internet :
Since the number of online shoppers is increasing rapidly, scammers have moved online to trap cardholders. Avoid clicking on random links that require your credit card information. These links might seem genuine, but are actually known as phishing, which is an illegal way of obtaining sensitive information. Also keep in mind that credit card companies and financial institutions never ask for such details online. In addition, ensure that you check the web address while logging in to your bank or credit card account: the page should start with ‘https’ and not ‘http’. 

Be an alert customer:
Do not ignore your detailed credit card bill every month. Check for any inconsistencies, inexplicable charges or transactions, and report the same to your credit card company. In case of theft or fraud, report the event immediately in order to avoid paying for the transactions made on the card. 

Fraudsters are continuously finding new ways to trick you. The only way to avoid such tricks is to be watchful and take utmost care of your credit cards. 

Source: HDFC Bank

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