Anti-fraud agencies have their busiest periods during summer seasons because credit card fraudsters seem to work over time during summer.
Also credit and debit card owners tend to be less vigilant during this period especially those abroad on holiday meaning they become they become vulnerable to credit and debit card fraud.
Most people don’t actually find out they are victims of fraud until they return home and by that time fraudsters have raided their bank accounts or rack up large credit card bills in their names.
So how do you protect yourself against card fraud during this high season?
Swipe and Sign
The personal identification number (PIN) was introduced to help cut out both card fraud but thieves have devised ways of retrieving your pin after you have used the machine so whiles on holiday abroad, swipe and sign for purchases as signatures are harder to fake.
Shred Everything
This advice is not just for the holiday season, it should apply all year round. One of the easiest ways to obtain someone’s credit card number is to go through their rubbish so shredding all receipts, invoices and bank and credit card statements makes it impossible for fraudsters to get your details.
Read Your Mail
Most people just skimp through their bank and credit card statements and ignore general mail from such institutions which is a big mistake. Checking your statements thoroughly will allow you to notice any unusual activity on your accounts. Also if you don’t check the mail on a regular basis, you could mistake an important notification for a credit card solicitation and disregard it. You should also shred credit card solicitations because information such as your address and name is written directly on the envelope making it ripe for stealing.
Never give your Credit Card to an Unverified Source
Whether you are abroad on holiday or at home, never give your credit card number or pin to anyone on the phone or internet. It could be fraudsters impersonating a bank representative so they can get access to your details. When you get such calls, always hang up and call the card company yourself.
To avoid becoming a victim of card fraud this summer, those going abroad for holidays should consider purchasing a prepaid credit card. Prepaid credit cards are convenient, they save money as you don’t have to pay commission on transactions when abroad and they help you stay within budget as you can only spend the amount you have loaded on the card. Most importantly, if stolen, thieves can only spend the amount on the card; they can’t rack up a huge bill in your name.
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