Credit card fraud is real. It is unfortunately something that is becoming more and more common. Hence why I am writing this article. We want to help show you some of the most common and also the worst ways you could be exposing yourself to credit card fraud. With that, let’s dive in!
Worst Ways To Expose Yourself To Credit Card Fraud
#1. Clicking or Answering Phishing Messages
No, this isn’t the type that involves fish. Phishing with a “Ph” is referring to thieves trying to steal your personal information such as credit card info, passwords, etc. by acting as if they are honest through email/texting/phone calls.
If you receive an email from an address you don’t recognize or if the email title has obvious spelling errors in it, be sure not to click. Or if the email has a link that looks suspicious, don’t click. Even if the link looks normal, it is better to be safe than sorry and not have a virus downloaded on your phone/computer that can steal all of your information if you click it. If it is from a company you have an account with, just log onto your account to see what your new notification was instead.
Don’t answer phones from unrecognized numbers. If you do, they can steal your voice and use it to get in touch with companies pretending to be you. They can also hack into your phone if you answer. My rule of thumb is that if someone is real (not a bot) and needs to get in touch with me (if they’re not an existing contact in my phone) they will leave a message that I can listen to and call back.
If you get a text from a number you don’t have, be sure not to text back. If you do, they can easily hack into your phone and steal your information. And think about how today you have things like ApplyPay, Banking Apps and Credit Card info on your phone.
This is why it is crucial to air on the side of suspicion rather than accepting any email/text/phone because often times if the offer seems too good to be true, it is usually is. No matter what, never give account numbers away without confirming 100% that they are viable and acting in your best interest.
#2. Not Investing In A Shredder
Every time you get a piece of mail with important documents that may have some personal information on there, you should be thoroughly shredding these. I don’t just mean tearing into pieces, I mean actually shredding. People have been known to put pieces of torn-up paper together to figure out what the original paper said.
#3. Falling For False Advertisements
One of the most common ones I’ve seen people fall for is the guarantee to lower your credit score. Let me say this clearly, a company cannot manually lower your credit score. They are taking your information and either using it themselves or selling it to someone who will. Your credit score can only be raised by your own hard work and diligence.
For more on how to raise your credit score, check out this article!
There are also tons of other scammy deals that take you to non-trustworthy sites. Have you ever been redirected to a site that just doesn’t look appealing or that has obvious spelling errors? This is probably a scam.
These scams either try to have you download a “Free Trial” or “Free Meal Plan” and then sink a virus or malware into your computer. OR they have you hand over your credit card information to pay for some “Miracle Fat Loss Pill”. As stated above, if it sounds too good to be true, it probably is.
This is a case where you really need to think before signing up for any of these scams. Most of the time, your common sense will kick in and save you from potential fraudulent behavior however with this new knowledge make sure you are being more suspicious of these types of scams.
#4. Calling 1-900 Numbers
Were you promised the deal of a lifetime and all you have to do is call this number (1-900-xxx-xxxx) and the deal will be sent to you immediately, even expedited? DO NOT CALL.
The scammers behind this plan actually make money when you call that number because of the charges to call. This one is straight-forward and simple, do not call any 1-900 number!
#5. Not Monitoring Your Credit Card Statements
A couple things on this.
- There are so many really helpful services that are trustworthy and help you monitor your credit cards thoroughly. They can track transactions and even pick up on suspicious behavior. I like using Mint because it is a one-stop-shop for my financial needs however there are plenty of others, just look into their credibility.
- If you don’t want to use an app because you are wary of anything asking for your credit card (see scam #3) then you can monitor your account on your own. Swipe through the transactions daily or even just weekly to make sure that you recognize everything.
The minute you see a transaction you didn’t make, report it. This way you have a higher chance of the credit card not making you liable for the expense.
#6. Using The Same Password On All Accounts
It’s 2020 folks, we need to step up our password game. Nothing obvious and make sure to always include a variation of letters, numbers, and other signs. There is no reason to be using the same password for everything. It puts you at such a higher risk of your credit card being hacked.
#7. Signing Into Personal Accounts On Public WiFi
I know it is tempting to check out your credit card balance when you’re at the coffee shop but if you’re going to do it make sure you turn your wifi off. You shouldn’t be using public wifi because it makes it so much easier for experienced hackers to get into your phone and steal your information. All you have to do is sign on once.
Final Thoughts
Make sure you are not doing any of the 7 worst ways to expose yourself for credit card fraud or else you could be setting yourself up for a really terrible case of credit card fraud. By taking these precautions and making sure to keep educating yourself on the new ways hackers are stealing credit card information then you will be far ahead of the game.
Have you ever faced credit card fraud?
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Gina DiMasi
Gina DiMasi is an organizational finance whiz. Gina is an avid investor, educator and aficionado of bitcoin and other modern investments. In addition to being an all around nice person, Gina has a degree in personal finance studies from Framingham State University. When she's not running numbers or blogging up a storm, Gina actively volunteers with Habitat for Humanity.
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