Avoiding Credit Card Fraud

Avoiding Credit Card Fraud

Avoiding Credit Card Fraud - How to avoid credit card fraud - Tips on avoiding credit card fraud - Ways to avoid credit card fraud » Avoiding Credit Card FraudHaving a credit card and being able to use it wisely is a boon many of us have experienced. However, it is very important to understand what a credit card is and how it can be used, or misused. Some insight into this world of plastic money will definitely help you to prevent a credit card fraud at some point in your life.

There are many levels at which a credit card thief can take you for a royal ride. And I do not refer to the common trickster; many credit card companies are involved in behind-the-scene credit card fraud too. Let us begin with handling the card at retail outlets. When you hand over the card to the check out clerk behind the counter at a store, petrol pump or super mall, never and I mean never take your eyes off the card until it is back in your hands. The CVV number, which is the three digit number behind the card is very important to make purchases online and this is the number many clerks note down secretly. They can take your card number by taking a print out of the transaction slip but all they need to know is the expiry date of the card, your name and the CVV number. Armed with this information they can use it to transact online – leaving you in the lurch.

Another credit card fraud you must be aware of is the card company itself. Many card companies, with a million or more customers, will cheat their customers by charging various fees. The most common is the late fee. If you card company will only accept checks in a drop box you better beware. Though this does not happen very often to you, it may not have happened to you as yet, but your turn will definitely come. Payment checks are never always cashed on time by the company, and you are fined. If they do this to a random lot of a hundred thousand customers every month they can come up with a neat sum. Many people never even notice a small amount on their credit card bill so the companies get away with it. The few who raise objections get the fine waived – so always pay through some registered method like online payments or registered post.

These are the two big ways you could lose money through credit card fraud. Unless you go and drop your card somewhere and don’t miss it for a few days or be fool hardy enough to leave your card information lying around. But I guess most of you guys out there are smarter than that.

Acording with the Digital Millennium Copyright Act (“DMCA”), Pub. L. 105-304 If you believe that your copyrighted work is being infringed, notify our team at the email [email protected]

@[email protected] lifestyle

MORE ABOUT Avoiding Credit Card Fraud