Protecting Your Credit Card Numbers

Retain Your Receipts

If you’ve ever left a credit card receipt in your shopping bag or walked away from a gas pump without removing the receipt from the machine, it’s easy to see how criminals can get their hands on your credit card numbers.

The transaction isn’t complete until you personally receive a receipt and place it in your wallet. When you get home, file all receipts in a safe place until the bill arrives. There’s no need to carry the receipts around with you, and purchase reconciliation and verification will be a breeze.

Monitor Credit Card Statements

This writer experienced a scam set up between two cashiers at different stores. The first cashier provided the writer’s credit card number to the second cashier at another store, and the two later enjoyed a little shopping spree at the writer’s expense. A monthly statement review revealed the scam. Evaluating statements is just one way to avoid credit card fraud.

Many individuals now use the convenience of direct bill payment through credit cards; yet another good reason to evaluate each monthly statement for accuracy.

Alternate Payment and Mail Suggestions

Online bill payment provides consumers with a timesaving alternative, as well as another means of protecting credit card numbers. Customers review credit card statements online, and establish automatic bank drafts for electronic payment. This method reduces the need for mailed statements and check payments.

Ironically, some have concerns about handling so many financial issues online. So if you’re worried about neighborhood mail theft but aren’t ready to handle bill payment online, consider getting a post office box for financial mail delivery and drop bills off at the post office.

Refuse the Bait of Phishing Scams

Phishing has become more aggressive in the past few years as scam artists develop more innovative ways to dupe consumers. These cons have constructed more elaborate “spoof sites” that closely resemble a Web site you trust, such as your bank or another frequented site, and request your credit card numbers, account information, Social Security numbers and other personal data through dummy e-mail accounts.

Remember:

• Call the institution in question directly to ask if they need an account update.
• Don’t follow links presented in e-mail. Instead, if you have a concern, go online to the originating site and log into your account.
• To guarantee you are protecting your credit card numbers and other personal financial information, never communicate any of that via e-mail.

Also be aware that e-mail isn’t the only way con artists phish for information. If someone unexpected calls, claiming to be from your bank or credit card institution and requests account information, don’t provide it. Ask for the toll-free customer service number, verify it against a statement, then call the number on the statement and talk with a representative.

From time to time, credit card companies will call to verify recent customer purchases that may seem unusual to a traditional buying pattern. On these types of calls, legitimate companies will clearly identify themselves and ask if you made a particular purchase on a certain date for X amount – they never ask for account information.

This might happen if you travel or make a large purchase, such as a computer or big screen TV or fancy shoes from an overseas distributor. Think of this as good neighbor service, as they are as concerned with protecting your credit card numbers as you are. They never seem to ask about the $3,000 purchase of vinyl siding, however. Guess crooks scamming credit cards for immediate home improvements is an unlikely scenario.

Protecting Your Credit Card Numbers: Use Common Sense

There is not, nor will there ever be, a prince in Nigeria handing out money like lollipops. So remember, any unsolicited requests for your credit card numbers by others are suspect. Here are a few other helpful tips for protecting your credit card numbers:

• Don’t sign credit or debit slips without an amount listed, and mark an X or draw a line through any blank areas.
• Make sure the online merchant is secure and refuse options for the site to retain credit card information for future purchases.
• Don’t write your credit card number on the outside of the bill envelope when returning payment.
• If you’re responsible for a lot of credit cards for yourself or other cardholders in the family, consider a registration service. For a fee, this service will report lost or stolen credit cards and request replacement cards. However, review fees carefully and read the fine print regarding their services and your liability.

What to Do if Credit Card Fraud Happens

After all this effort to ensure you’re protecting your credit card numbers, it’s possible you may still end up a victim of circumstance.

Call your issuer(s) immediately if your credit cards are lost or stolen, or the numbers somehow acquired. Most credit card companies have toll-free numbers and 24-hour service to deal with these emergencies. You will not be held responsible for the unauthorized charges if you report the theft within two business days and before anything has been charged. Additionally, contact the store or online service at which the fraudulent charges were made, as their security team is eager to rectify criminal situations.

Related Credit Card Links

• Credit History
• Free Annual Credit Report
• What is Credit
• ATM
• Secured Credit Cards