The information on your credit card is not as secure as you might believe. It is possible for anyone to acquire your credit card information simply by hacking into a merchant database, stealing your card, or asking you for the information it contains. Whilst the first scenario has a lower chance of happening, it is not impossible. If this happens, credit card companies will notify their users and reissue the credit cards to replace those in which security has been compromised. On your part, having your card or identity stolen has a greater effect on you as an individual. If this happens with you being aware of it, you should report the loss to your credit card company immediately. In most cases, it has been found that victims of credit card theft pay no more than $50 for all unauthorized purchases charged by the thief. It is also a good idea to always keep a photocopy of both sides of your credit card as well as the contact number of your card company in case of emergencies like this. At time, it may not be easy for you to realize that you may have unwittingly disclosed information on your credit card to strangers. Unsolicited calls by strangers asking users for their credit card and social security numbers are one of the many scams that have plagued users. It is therefore important to remember that you are not obligated to disclose your credit card number to anyone over the phone. Apart from that, when making purchases with your credit card, you should never sign on a blank receipt. Keep all your receipts to prevent others from obtaining your credit card number and the expiration date. Usually, these two pieces of information are enough to allow an online transaction to go through. As for online transactions, always use a private computer to make the transactions rather than on a computer in a cyber cafe. You should also make all card transactions on your own, even if you are paying for someone else. Finally, when you are closing your account, it is best to cut up your card before mailing it back to the credit card company. |
