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5 Tips to Fend Off Fraud This Holiday Season

Credit card fraud happens in a variety of ways. You can’t always stop it from happening, but you can create obstacles that make it harder for someone to get ahold of your card numbers. One of the best ways to head off potential misuse is to treat your credit cards like you would cash—very carefully.

According to creditcards.com, 45% of credit card fraud is online (card not present) followed by 37% being counterfeit card fraud. Thankfully, with the addition of the EMV chip, the percentage of counterfeit card fraud should drop. While the addition of the EMV chip will help, the holiday season is still a time when identity thieves are out there, looking for their next victim.

Take a look at these five tips to help keep your wallet safe this season.

Review your monthly statements to help spot anomalies early

Blog 5 Tips to Fend Off Fraud This Holiday Season

Monitor your online account to see your transactions in real time. If you notice a transaction that does not look familiar, report it in a timely manner. If you aren’t able to check your transactions on a daily basis or don’t use your card that frequently, you can set up an alert to notify you when your card has been used.

Pay for items online using a credit card instead of a debit card

While your debit card is protected from fraud, identity thieves who go on a shopping spree with it would be utilizing money from your account that you need to pay everyday bills. In contrast, by using a credit card, fraudulent charges on a credit card would only take up a portion of your credit limit.

Look for the padlock icon and “https” in the address bar

Before entering your information on a website, take this extra step for peace of mind knowing that the site you are entering is safe and secure. Another important tip to remember is to only use networks you know and trust. Just because the Wi-Fi at your favorite coffee house is public, doesn’t mean it’s safe. We all want to save on our cellular data but your data isn’t worth the risk.

Register your card

Verified by Visa and MasterCard SecureCode deliver an added layer of protection for your card when you shop online.

Be sure you sign out of accounts

Logging out of accounts may seem like a no-brainer, but leaving an open connection provides an opportunity for identity thieves to obtain your personal information. When in doubt, sign out.

If your personal information or credit card falls into the wrong hands, first, contact your card issuer as soon as you realize your information has been compromised. Most card issuers will then contact the merchants on your behalf and reverse the charge(s), pending investigation. You may be asked to submit an affidavit of fraud, which states that you did not make the purchases or withdrawals that are the subject of the affidavit.

For more ways to protect your money and your information, visit our Security Center.
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