Credit Card Scams: Best Ways to Prevent Credit Card Frauds

According to a recent survey by the Consumer Financial Protection Bureau, 10 percent of Americans say they have been a victim of credit card fraud at some point in their lives. Credit Card fraud has always been on the rise, but it’s especially prevalent in these times.

1. Throw Out Credit Card Statements and Receipts

Don’t leave credit documents around the house, but make sure you tear them up and crush them before you throw away your loans or sensitive documents. If your documents have a credit card number, you must store and dispose of them securely somewhere.

2. Review Your Monthly Credit Card Billing Statement

One of the easiest ways to ensure your credit accounts are accurate. Being an expert on your credit card is the best way to not become a victim of fraud. Go through your transaction history and pay attention to every detail and make notes of anything that looks suspicious or out of place. Be wary of suspicious transactions on your credit card statements and other credit card reports. This way, you’ll catch errors, potential thefts, and will save you a lot of money.

3. Dispose and Destroy Your Old Card When the Replacement Arrives

If you have multiple credit or debit cards, make sure you leave them at home when you leave, and do not forget to destroy the old cards before you hold the new cards. Leave the rest in a safe place, such as a wallet, purse, or even in the trunk of your car.

4. Protect Your Money and Data When Shopping Online

The truth is more and more purchases are made online especially these days. Online shopping is still the biggest subject of scams today. Shop online only on trusted websites and steer away from spam sites and pop-up windows that ask for personal information. If you are browsing through a public network, the risk of compromising your account details and login info is higher. Make sure you effectively delete your login information.

5. Report Lost or Stolen Cards Immediately

If you believe your card has been stolen, call your credit card issuer as quickly as possible to report the loss or theft of a missing card – that way you’ll be able to protect yourself before anyone uses it. It is worth the time to think of worst-case scenarios and take an immediate step.

Fraud Alert:
A fraud alert on your credit card will inform your credit card issuer of any problems with your credit card and they will take additional precautions when checking your account. Fraud alerts last up to 90 days, but the alert can be extended if you file an identity theft complaint with an enforcement officer.

Credit Freeze:
The most often discussed alternative to extended fraud alert is a credit freeze. If you’re still concerned with the security of your information, a credit freeze is a good option.
While a credit freeze can effectively ensure your financial security, it is important to note that credit bans can also affect all ongoing credit applications pending with you. In some cases, they can freeze your credit card, meaning the credit card company cannot release details.

If you have been a victim of deception or fraud, CreditGUARD of America can help you better protect yourself from credit scams by keeping your finances safe and secure. Don’t wait for a fraud to happen, take the initial step today. Call us at 800-282-8497. For more information, visit CreditGUARD of America at