Monday, November 20, 2006

Credit Card Fraud

Credit Card Fraud

For most of us, credit cards are part of our daily life. So its no wonder that credit card frauds do occur on a daily basis. Most of the fraud happens online, unfortunately or fortunately, online transactions and purchases are not common for the average Filipino user. Here are some basic tips on the do's and dont's to prevent credit card fraud.

Things to do:

  • Sign your cards as soon as they arrive from the courier or mail.
  • Carry your cards separately from your wallet, and place it separately on your body.
  • Keep an eye on your card during the transaction, and get it back as quickly as possible and ask the clerk whats wrong if they take too long.
  • Save receipts to compare with billing statements.
  • Report any questionable charges promptly, call the credit card company and talk to a customer service associate.
  • Notify card companies in advance of a change in address.

Things not to do:

  • Do not Lend your credit cards to anyone.
  • Leave cards or receipts lying around your place.
  • Give out your account number over the phone unless you're making the call to a company you know is reputable. If you have doubts about the company calling, do not continue the convesation and just hang up if the persist.
  • Allow you credit cards to be photocopied.


Related Links:

Credit Cards
Credit cards are better than cash
Earn using your credit cards
Avoid using cash advances in credit cards

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