How To Protect Your Credit Card From Online Fraud
Staying safe online is a necessity nowadays. You wouldn't want to fall victim to an online scam with someone stealing your money for no tangible reason. But you should also be careful about how much information you give away. Thieves will use this information against you to steal from your account. If you do have a card that has been compromised, there is still hope! Here are ways to protect your card from online fraud.
1. Check your statements often.
Checking your statement can give you insight into what's going on with your account. If you find suspicious activity, alert the bank where you have your card, and they can help you. Another reason to check is if there has been a security breach. Credit card companies sometimes warn their customers of possible breaches. Don't ignore these warnings, as credit card information is often leaked through these breaches.
2. Use a credit monitoring service.
Services like Equifax offer services that will keep track of your card to make sure no one is using it without you knowing. This can help prevent you from losing money on stolen money and fraudulently used addresses and numbers. If a fraudulent number or address pops up, have it reported immediately before someone can use it to their advantage and steal from you! This service is worth the cost, but only if you are worried about your card. If you already take care of your credit but want a little protection, there are other ways to keep an eye on your card.
3. Pay with cash.
Are you one of those people with a ton of cash hidden in their cars or houses? If you let anyone see it or have it lying around, this may not be a great idea. Cash can be stolen easily and replaced just as easily to be spent online. This is a very easy way for anyone to steal your money. Instead of carrying around cash, use your credit card whenever possible!
If you have an account with a reputable bank, chances are you will have little to worry about when it comes to losing money. It is not hard to keep track of your card when it is in your possession. However, maintaining control of your card can be difficult on the internet. This is why checking your statements, using credit monitoring services, and paying with cash are all important tips to protect yourself from online fraud.
4. Use two-factor authentication on your bank account.
Two-factor authentication can be a pain to deal with, but it's the safest you can get with online fraud these days. Most banks have this feature as an option that you can turn on. Every time you log into your account, you will be asked to enter a security code sent to your phone. This prevents strangers from entering your account because they don't know the code. To turn on this feature, check with the bank holding your card, and they should help you!
5. Make sure your bank uses an RSA token.
A token is a small device you can use to log into your account. You can have these anywhere on a computer, but usually, they are found on your keyboard or mouse. If a computer isn't yours, it won't have the right information to access your account. Using a token makes sure that your account is only accessible by you. These tokens are used for extra security, but many banks use a password to log in. If you don't have one of these, get one soon.
6. Check whether your bank uses encryption on its website.
Encryption is like a lock on your door, making it much harder to break into an account. Hackers who try to break into your account will get a string of nonsense rather than your real information. This makes it very hard for hackers to access your account. A lot of banks use encryption but not all. You should check with your bank and ask whether this feature is active on the website. If not, you should ask the bank whether they plan to upgrade and ensure that you can have this feature soon.
You should pay close attention to your account and the activity that is being done with it. There are several ways to minimize the risk of someone trying to access and use your information for their purposes. Remember, whenever you go online, ensure you always have an eye on who is looking at what.