Best ways to avoid credit cards fraud

Credit card fraud happens when someone gains access to an individual’s legitimately opened credit card account and uses it to buy items, take out cash advances and create other illegal schemes. Credit card fraud costs credit card companies millions of dollars per year. But the consumer isn’t generally responsible for any of it, as many companies have zero dollar fraud liability guarantees.

Given is the list of the top guidelines to evade credit card fraud.

Keep your credit cards safe

Keep your credit cards in a purse or wallet close to your body where it cannot easily be snatched away. Ladies, make sure your purse is zipped. If you are shopping in a high traffic area, carry a smaller purse. For both men and women, carry only the one or two credit and debit cards you’ll be using that day. Leave all your other credit cards at home. Thieves can take pictures of your credit card with a camera or cell phone, so don’t leave your credit card exposed any longer than necessary.

Shred anything with your credit card number on it

Rather than toss your credit card billing statements directly into the trash, shred them to keep dumpster divers from getting their hands on your credit card number. The same thing applies to old credit cards that have expired or been cancelled. You might even put the shredded pieces in different trash bags to thwart clever thieves who can put shredded pages back together.

Do not sign blank credit card receipts

To avoid credit card fraud, always verify the amount on your credit card receipt before signing it. If you get a credit card receipt that has blank spaces in it, write $0 in those spaces or draw through them before putting your signature on the card. Otherwise, the cashier could write in an amount and send the purchase to your credit card issuer.

Avoid giving out your credit card information

Only give out your credit card number or other sensitive information on calls you initiate to customer service using the number on the back of your credit card. Don’t return calls to a phone number left on your answering machine and do not give your credit card number to anyone who calls you requesting the number. Credit card thieves have been known to pose as credit card issuers and other businesses to trick you into giving out your credit card number.

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