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5 Incredibly Important Tips for Protecting Yourself from Credit Card Fraud

Credit card fraud has become an all too common crime in today’s society. Its impact can be devastating, damaging its victims’ credit card score for years after the incident occurred.

Thankfully, credit card companies have been getting smarter. From the implementation of EMV chips to heightened digital security, they are taking strides to help mitigate these risks.

However, there are certain best practices you–the card owner–should be doing to protect yourself as well. We’ve put together 5 of the best tips to help prevent credit card fraud from happening to you.

5 Tips to Avoid Becoming a Victim of Credit Card Fraud

Knowing how to identify a risky situation can help you avoid both fraud and the sneaky charges that are all too often implemented by companies looking to make an extra buck.

Use these tips to stay vigilant and keep your money where it belongs.

1. Actively Monitor Your Credit Card Statements

All too often, credit card users only catch fraudulent charges when they receive a notice from their credit card company of suspicious activity or if something goes awry and their card is declined.

Be proactive by keeping an eye on your credit card statements. Review and verify your charges to make sure they’re accurate. After all, not all theft comes with large charges.

2. Avoid Signing Up for “Free Trials” Using Your Credit Card

It may seem unfair, but these sneaky charges aren’t considered fraud. Whether you just forget about the deadline or it lies hidden in the fine print, many people are hit with unexpected charges after opting into a trial session.

The easiest way to avoid this is not to opt-in or set a reminder on your calendar to cancel.

3. Hold onto Your Receipts to Audit Your Statement Charges

Just because you are handed a receipt doesn’t mean that same charge always translates to your statement. This is especially common in car rentals. Always keep your receipts and audit your statement every month by comparing the charges and making sure they align.

4. Be Quick to Cancel Cards That are Lost or Stolen

Even if you just think you misplaced your credit card, don’t wait. If you can’t locate your card or you left it briefly at a store or restaurant, err on the side of caution.

Cancel your card and get a replacement because even if you find the card or get it back, you don’t know who has taken down the card’s sensitive information.

5. Be Cautious When Swiping Your Card at Gas Pumps

Skimmers are commonly found at gas pumps and are used to steal credit card data and funds. Never use a gas pump whose seal has been broken and aim for locations near the merchant’s window that are well-lit.

If you notice something off about the keypad or credit card scanner at the pump, use caution and choose another location.

Get the Money You Need Without Using a Credit Card

You’re now well-versed in the best practices for avoiding credit card fraud, but what if you’re looking to not only protect your money but also loan some? While credit cards are advantageous for small to medium purchases, sometimes you need a Little Loan to help you with a large purchase or to make ends meet.

If this is the case, apply for a loan instantly online. We’ll help you get the best deal while protecting your credit by sending your loan application out once to multiple vendors.