Financial Blog

A new credit card comes with a lot of responsibilities – your newfound purchasing power being one. Access to the things you want most can be done in a swipe, but compromising your credit card information can also be done in more or less the same action, and that is no exaggeration. As technology advances, so does cybercrime.

Credit card fraud is akin to silent diseases. It works on the sly, and you’d never know when it’s going to attack. With the availability of highly advanced digital devices, tech-savvy criminals are getting craftier in phishing credit card information.

Vigilance is your number one weapon against this villain. Cybercriminals may be wily, but you can outsmart them by using your card with utmost caution. Here are some things to watch out for before paying with your credit card:

Skimmers are special devices that can steal your credit card information with just one swipe. Spot these fraudulent devices by paying attention to the terminal’s size, buttons, and lights. A skimmer is noticeably longer and wider than the actual terminal. It doesn’t have button highlights and an attached stylus, while its green LED light is blocked.

If a terminal operates at a much slower pace and encounters frequent errors, be extra careful. These could be indicators that a skimming device is interfering with the terminal’s magnetic strip.

Have you ever received an email from an anonymous sender asking you to click on link? If you ignored it, you did the right thing.

Malicious email links are something that you need to be wary of, as these could lead to fake websites set up by cybercriminals. If you wish to visit a particular website, type in its URL directly in your browser. This goes without saying, but you should only use your credit card in trusted and reputable websites.

A secure website starts with https:// and features a padlock or a key icon at the top or bottom of the browser. These icons indicate that the website is protected by encryption.

Not all things free are good. Some might just be a bait. Avoid connecting to a public network, as it is less secure, making it more vulnerable to credit card fraud. Even when you are using your own computer, don’t make credit card purchases while connected to a public Wi-Fi.

Hackers can access the same network and intercept your credit card information as you enter it on your computer. Accordingly, don’t access your bank accounts and review your credit card statements when you’re on a public network.

Refrain from making online purchases using a public computer, as some websites store your login information. You might accidentally leave your accounts open if you forget to logout. Even worse, hackers could steal your information through a keystroke logger.

A keylogger is a surveillance software that covertly records your keystrokes. Hackers use this system to access passwords, usernames, and credit card information. To avoid fraud, use your own computer and internet connection for online credit card transactions.

While it may be inconvenient to use several different passwords for all of your online accounts, this is one way to secure valuable private information. Create a unique password using a mix of numbers, uppercase and lowercase letters, and at least one symbol.

Don’t use something obvious like your name. As much as possible, keep your social information private so that hackers cannot easily crack your password.

Spyware is a type of computer malware that secretly collects private information on your computer including your credit card information.

To avoid attacks and security breaches from these types of malicious software, install a trusted anti-virus and anti-spyware software, and make sure that your computer’s security patches are updated.

Fraudsters seem to have already set all sorts of different traps to lure unsuspecting credit card owners and steal their information. Again, vigilance is your weapon against these thieves, so be on your toes when using your credit card, both online and offline.