How to Prevent Credit Card Scams

A credit card scam is an illegal & unauthorized utilization of an individual’s credit card for purchasing products or services. A lot of times, such scams can be a small part of something huge, like stealing someone’s identity & personal information for availing the loan or any other way of obtaining credit in the card holder’s name. It is important to incorporate certain measures and precautions to help yourself from falling into such traps. So, what can be done to prevent such frauds or scams? Let’s have a look at some of the things that you can exercise:

Keeping an eye on your mobile alerts

You need to have your mobile and email notifications activated because it will help you keep track of all the transactions that have been done through your credit card. You should carefully read and understand the entire notification sent by your bank or financial institution on your mobile or laptop every time. It will help you to track and identify any invalid transaction. Just in case if you happen to notice an invalid or unauthorized transaction through your card, then you should immediately contact and inform your credit card issuing company and file a report for such a faulty transaction.

Keeping an eye on your monthly statements

Not only should you activate the mobile & email notifications, but also review and study the monthly statements generated for the credit card transactions done. If you observe any transaction that was never executed from your end, then in such cases, you should immediately report such suspicious transactions to the bank. Sometimes, it is difficult to recall all the transactions that have been executed in a month. To avoid such a case, you should save all the transactions reflecting the receipts and then compare them with the statement reflecting your withdrawals.

Stay extra cautious while swiping your card.

It would be best if you always were extra cautious whenever you swipe your card on any POS (Point of Sale) portal in a restaurant, bar, clothing outlet, grocery store, or anywhere else. Never forget to get the card back once you update done with the swiping. It would help if you also remembered never to sign any blank receipt. You can draw a line on the top of the total amount printed on the receipt. Also, remembering to sign the back of your card is very important as it helps prevent fraud as you have a unique personalized signature on your card. It is crazy to me that some people still don’t sign their cards as it is such an easy way to prevent fraud. Here are some of the best pens to sign credit cards, to help get you started.

Prevent yourself from online credit card scam

To prevent yourself from digital credit card scams, you sho have your antivirus stay up-to-date. If you are sharing the details of your credit card over any website, please ensure to check if the URL address starts with https (‘s’ means ‘security’), not HTTP. Apart from this, if you notice a closed padlock sign located in the top-right corner of the website, it means that it is secured.

Before executing any online transaction on a website, try to look for digital certificates that can authenticate that website via ‘Verified by MasterCard’ credential or something similar because MasterCard is a well-known and reputable provider for authentication service which can help the online consumers to be sure that the site with which they are engaging is genuine enough to be dependent upon.

Verify the source you are dealing with and always use a secured network.

You should never try to access your credit card account through the links provided in any email body. It is always advised to log-in to your account through the official website of the bank. Also, try to avoid practicing financial transactions through a public computer, cyber-cafe, or a Wi-Fi connection, which is public. If you have a computer you share with someone; it is always advisable to operate a virtual keypad to log-in to your net banking as it will ensure security from all types of viruses and malware.

Connect with your credit card company for filing an address change request

You should always update your information to your credit card company all the time, like your contact details, address, and email address, so that the sensitive data is shared only with you and nobody else.

Never share the sensitive details of your card with anyone.

Never share your credit card details with anyone, not even if the customer care requests you for the same. Remember to key-in the PIN of your card during the discussion with the customer care executive but never spell it because you will be sharing the sensitive information with a third party on a telephonic conversation.

Always use a chip card.

Chip cards are encrypted to provide intensified protection and security against fraud transactions. When you use your card in the stores, restaurants, or outlets having chip-enabled terminals, then the vendor system certifies the chip to ensure the security of the whole transaction that you are making. These chip cards offer enhanced security compared to those typical credit cards having black magnetic stripes on their back. The card with a black magnetic stripe has a reasonable probability of stolen personal data and getting into the wrong hands when swiped.

Execute online shopping only from a well-known merchant or vendor.

Doing online transactions from a reputed merchant’s website will ensure that your security is not at risk. Small vendors may not have proper security measures, putting all of the users’ sensitive card details in danger. Also, see if you have received a confirmation mobile notification or Email once you have completed the transaction to ensure that the transaction is successful.

Always intimate your credit card provider before going on a foreign trip.

When you go for a foreign trip, your card may be exposed to a lot more risks of cloning of data in the card where the magnetic black stripe is duplicated when it is swiped in a POS portal. The data will be further used for creating a duplicate identity of your credit card. But suppose you’ll inform the credit card company well in advance about your foreign travel plans. In that case, they can prepare themselves for the upcoming risks by keeping track of the card and providing you with global assistance and travel across the globe.


The credit card scam does not need to be huge every time to cause a dent. Even minor credit card scams can lead to something big, and hence, you should try to adopt as many precautions as possible. You can also connect with your credit card provider to discuss in detail the extra-preventive measures that can be adopted. If it has been identified and confirmed that your credit card details have been stolen or duplicated, then the fraud can be cleared within a matter of a few days or even hours if an early action has been implemented. All you have to do is inform your credit card provider as soon as possible about any suspicious activity or transaction, and then you will be safe.

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