Credit Card security is becoming more and more important with the advent of chip and pin and an increasing trend towards online shopping. Credit card companies who were at first generous and helpful when customers became victims of credit card fraud are now increasingly victimising those same customers for poor credit card security, despite the fact that many of us have little choice but to use online payment processing systems or chip and pin devices at the checkout. We have created ten essential credit card security tips that you can use right away to help reduce the chances of becoming a victim of credit card fraud.

1. Shield Your Pin

In many cases customers are now liable for credit card transactions where a pin has been used to obtain money from your account. Unless you can prove that you were not in the locality at the time the money was stolen, you may have to carry the loss yourself. Always shield you credit card pin, even if shopping at familiar places.

2. Look for signs of device tampering

You should always check the chip and pin machine for any obvious signs of tampering. Ask yourself does it look right, is there anything unusual about it, for example an additional attachment that isn’t normally there.

3. Look for hidden cameras

Fraudsters can use many tricks for obtaining your pin number. The fact that most chip and pin terminals normally have high sides to prevent a casual observer from watching you enter your pin demonstrates good credit card security. However customers rarely consider the use of cameras. It is always worth having a casual glance around and directly above the chip and pin terminal as an extra credit card security measure. If you spot a camera or a hole directly above you then offer a different payment method and don’t use the terminal. You should also report this to the business owner immediately.

4. Separate your Pin and Credit Card

It is a very simple measure but it is amazing how many people carry their pin and credit card together. This is usually the case immediately after getting a new credit card or when changing your pin. Instead store them in separate places and destroy your pin number as soon as you have memorised it.

5. Don’t pass on your Pin to Others

There are occasions where passing your credit card pin number to a third party may seem very helpful or even essential, but you should never do this. Even passing it to a family member can be a security risk as someone may over hear you or your family member may not be as security conscious as yourself. Remember that if you are a victim of credit card fraud after divulging your credit card pin to someone you know then you will be held responsible for the losses.

6. Shred Credit Card Statements and Credit Card Cheques

A simple but effective credit card security tip is to shred credit card statements and credit card cheques as soon as their usefulness has expired. These documents contain highly sensitive information and credit card account details that can be used by credit card fraudsters to steal your money. In the case of credit card cheques, you can contact the credit card company directly and request that they stop sending them to you, thus reducing your risk further of sensitive documents being abused by fraudsters.

7. Never Pass On Credit Card Information Over the Phone

We all think that we would never do this, but the reality is that we can all be caught off guard at some point especially if a telephone call sounds legitimate, or the person you are speaking to sounds pleasant. Credit card fraudsters are excellent con people who are very believable and who spend their lives manipulating individuals. Instead if you receive a call purporting to be from your credit card company always call them back on a contact telephone number you have previously used or obtained from their website or from the back of your credit card itself, where their general contact number is listed. Never call back on the number that they provide during a phone conversation.

8. Use Your Credit Card For Expensive Items

This credit card security tip is essential if you are buying large value items locally or from an online store. Most credit card companies will insure your purchase so if it breaks or is damaged or you are the victim of fraud whilst making the purchase then your money will be refunded. This is an excellent credit card security feature which makes purchasing expensive items very attractive through a credit card.

9. Always Check Your Credit Card Statement

Whilst it can be a painstaking process, an essential credit card security tip is to ensure that you thoroughly check your credit card statement at the end of each month to ensure that there are no fraudulent transactions. Many credit card companies now have very proactive security departments that will actually call you directly if they spot some unusual activity on your credit card. This is especially helpful as it means that any out of place transactions are flagged up more quickly and improves your credit card security. Check for any strange transactions like those for very small amounts like 1p or £1. These can sometimes be a fraudster testing your account is active with a small transaction prior to a larger fraud being committed.

10. Keep Credit Card Contact Details To Hand

If you are still the victim of credit card fraud after applying all of the above credit card security tips, then it is essential that you can contact your credit card company quickly. Time is critical because the faster you are able to report fraud the less likely a fraudster is to steal excessive amounts of money from your credit card account. Ensure that you keep the number for the lost or stolen credit card line available. Alternatively this number is normally printed on the back of your credit card at the bottom.

Conclusion

Remember that credit card security is important because it reduces your risk of being the victim of fraud and reduces the personal, emotional and financial cost to you as well as reducing the inconvenience of having to cancel credit cards and inform other companies of these changes. A few minutes now focusing on your personal credit card security habits can save you hours of time later on.

Check out some of our other featured credit card guides to help you save money;

How To Get Out Of Credit Card Debt

Essential Credit Card Security Tips

Save Money On Credit Card Costs

Earn Money Online With Cashback Credit Cards

How To Compare Credit Cards

Choosing The Best Prepaid Credit Card - Tips For Success

Bad Credit Loans - Tips For Choosing The Best Bad Credit Loan

Alternatively Click Here To View All Credit Card Guides