Tips to Prevent Credit Cards from Being Lost or Stolen
In the future, credit cards may require an extra layer of security to process transactions, such as a retinal or fingerprint scan. It may also be possible that they will be printed with the card holder’s picture on them. For now, however, anyone who simply has possession of a credit card can use it, as there are very few stores which ask for identification with the use of a credit or debit card (as long as the card is run as credit and not as debit which does not require a pin). This, of course, makes these credit cards an attractive target for thieves and would-be fraudsters. Yet, there are some steps that consumers can take to protect themselves from losing their card, or from getting it stolen.
One tip is to decline to sign the back of the credit card. Firstly, most stores are told to verify photo identification of the person using the credit card if it not signed. This means that if the card is stolen, there is a better chance of stopping or minimizing the spending spree that the fraudster can embark upon. Secondly, a would-be thief can mimic any signature on a card if they can see it, which may make it more difficult for the consumer to dispute the charge later on. If there is no signature, there is nothing for the thief to forge.
Consumers can also refuse to give their credit card numbers out over the phone. This may seem like it might actually restrict spending, but it does not have to be a hard and fast rule. The main thing to keep in mind is that card holders should never give their credit card number to someone calling them, even if they claim to be from a credit card company. Calling a store or restaurant and giving them a credit card number is generally much safer, as long as consumers know who they are calling. Furthermore, consumers should make sure that any websites they enter their credit card information on are completely secure.
Another tip to improve credit card security is to keep track of spending. Many people only check their account statements once a week or after even longer periods of time, and they may not remember which purchases were theirs and which were not. Many credit card companies today use sophisticated computer programs that can tell when a card holder’s spending habits change from the norm, and they may alert the consumer when someone is using their credit card.
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