Many people these days have at least one credit card, but it is one area of finance that is vulnerable to fraud and theft. There are a few easy points to remember in order to make sure your credit card is safe.

Credit Card Cloning

There are machines that are available which will duplicate the magnetic strip of a person’s credit card, making an exact copy that can then be used elsewhere. The process is practically instant, and in the blink of an eye your credit card information could be stolen. The only true way to safeguard against this is to always know where your credit card is. If you are paying for anything, make sure your credit card can be seen at all times.

Receipts

Most credit card receipts now will only display the last four digits of a person’s credit card. However, it is still important to retain any receipt given after purchasing a product or service and make sure it is properly destroyed. The receipt will still have other vital information like the expiry date of the card and your name; these bits of information can still be used fraudulently.

Shopping Online

Making purchases online is always safe through websites that have an “https” prefix. Here, the card of a customer will never be handed to a third party. To be truly safe when shopping online, it is vital that the website being used is secure. This will be indicated by the small padlock symbol as well as the https prefix that signifies the website is secure and properly encrypted. Although you do need to be careful when shopping online don’t let security scares put you off finding things like great fashion online.

Credit Card Loss

If your credit card has been lost or even misplaced, it is important to notify the issuer straight away so that the card can be cancelled. If it then emerges that the card was in fact stolen, the account holder will not he held accountable for any purchases made after the report.

Chip and PIN

This has been a part of credit and debit card security for a number of years and has been proven as a valid method of keeping credit cards secure. Instead of a signature, a four digit number is required in order to verify any transaction at retail locations.

Use Abroad

Before travelling on holiday to a foreign destination it will be worth informing the credit card issuer of the change in use. Credit card companies have their own security systems in place; so, unusual transactions will be flagged, and the card will be stopped.

The Role of Debit Cards
Some people prefer to use debit cards online such as visa debit cards, because they can only access the amount you have on your card, rather than credit cards which can access typically much more money. Therefore a debit card is often a wise security choice to use online.