There are a variety of ways that thieves can get your information and use your cards to make purchases. Here are a few of the more common ways:
You pay for dinner at the restaurant with your credit card. Your waitress takes the card to the register, processes the transaction and returns it. What you didn’t see was the copy of your card details that she made, and later used it to make purchases online and by phone!
You can’t believe your luck when you get a mailing that says you’ve won a free trip and all you need to do is join a travel club to get the free trip. After providing your credit card details to join the club, you never get the free trip and you start seeing charges on your statement that you didn’t make!
A thief finds copies or receipts of items containing your credit card details in the trash and then uses the information to make purchases.
Fraud like these examples cost cardholders and credit lenders several hundred million dollars every year. While you cannot prevent all fraud from occurring, there are reasonable things that you can do to help prevent and protect against credit fraud.
When using your...