There is no denying to the fact that credit card usage has increased considerably over the past few years.
Unfortunately, credit card fraud related cases have also seen a great surge in the recent past.
As a matter of fact, credit card frauds have become a common incident amongst people across the world.
Undoubtedly, the victim has to experience regret and inconvenience upon any such incident.
WHAT ANTI-FRAUD FEATURES ARE OFFERED BY YOUR CREDIT CARD COMPANY?
People who own credit cards should always be aware of the security features their credit card company has to offer.
One can also keep this in mind while applying for a credit card.
Apply for a card which offers room for plenty of security, in case of a fraudulent event.
At times this might help one minimise the losses partly or completely.
With the large number of financial institutions offering free credit cards, loads of people are being attracted towards possessing a few cards, without being completely aware of the precautionary measures one needs to take before calling themselves a proud owner of the credit card.
Fortunately, most companies are aware about the fraudulent events associated with credit cards, and they offer plenty of security features with their cards.
YOU NEED TO READ YOUR CREDIT CARD STATEMENTS
One of the best ways to prevent credit card fraud is to keep track of your statements as and when they arrive.
If you do not receive the statement for a particular month, make it a point to call the credit card company to know about the transactions on your credit card account.
Statements are a good way to track any unwanted transactions happening on your credit card.
Report any fraudulent transaction immediately, and block the card from further use by informing your credit card company about such events.
WATCH OUT FOR PHISHING
Not replying to any phishing or suspicious emails pertaining to your credit card is another measure to prevent oneself from credit card frauds.
The internet and mailbox is often flooded with loads of fake emails requesting your credit card information for varied reasons.
One should always exercise caution while dealing with such emails.
Cross check with your credit card company about the legality of the email, and reply only once you are 100% sure about the validity of the sender.
KEEP YOUR CREDIT CARD IN SIGHT AT ALL TIMES
Keep checking the possession of your credit cards in regular intervals.
While handling your credit card to any dealer for a payment, make sure to take back the card promptly after use.
Keep your credit card in a safe place whenever you are travelling or carrying them with you.
The key factor is to track your credit card transactions, and to report any illegal activities as quickly as possible.
That’s the best way to track fraudulent activities, and to exercise damage control upon fraudulent use.