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30 Common Credit Scams

Understanding Credit Card Scams

As the world evolves, so too does the way we manage and spend our money. The emergence of a digital age has brought with it a huge variety of benefits for the everyday consumer. From the ease of contactless payments to the ability to check our bank accounts from anywhere with an internet connection, the modern way of banking certainly has its benefits.

However, while the positives dominate the picture, it would be wrong to overlook the added threats that have emerged off the back of a move towards a digital financial landscape – particularly to vulnerable adults.

Con artists and scammers have always had methods for trying to deprive us of our hard-earned money. The introduction of the internet has, sadly, made their job a little easier. Credit cards are often the target of these attacks.

But it isn’t all doom and gloom. One of the best ways to prevent yourself from falling victim to any kind of credit card scam is to know what a potential threat looks like and react accordingly. In this guide, we’re going to discuss 30 of the most common scams, and what you can do to best protect yourself.

How To Improve Your Credit Card Security

While the threat of a credit card scam may sound quite scary, the reality is that you can take steps to ensure you’re far less likely to become the victim of an attack. Keep these factors in mind when trying to prevent a financial crime.

Secure All Devices & Networks

Where possible, make sure you’re using passcodes (that are hard to guess), 2-step authentication, and fingerprint or face recognition technology if your phone or smart device is capable of doing so. Also, think about turning off the autofill function on your computer. While handy, this stored information makes it a lot easier for hackers to poach.

Keep Everything Private

Be as secretive as possible with your private information. Only give out your credit card number when you’ve called the bank directly (not when they’ve called you). Also, make sure to keep your card number hidden when paying with it in public.

Shred Your Old Receipts

Make sure to thoroughly dispose of any receipts that you no longer need. In the case of paper bank statements, it might be worth converting to paperless. This removes the need to destroy them, while also lowering the chance of them being delivered to the wrong address.

Regularly Check Your Account

One of the best ways to stay on top of actions in your account is to check it daily. While this won’t necessarily prevent an attack from happening, it will put you in the best position to take the immediate action needed to recover your money.

Report Lost Cards Immediately

Likewise, if you do suspect someone is acting fraudulently on your account, you should contact your bank or credit issuer straight away. They’ll be able to block any payments being made using your card.

If you wish to read more, please click on 30 Common Scams and How to Avoid Them.  Full article available to read here:

30 Credit Card Scams To Watch Out For – Upgraded Points

Article by Consultant & Researcher Neil King, Digital Content & Media.

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