There are many different types of credit card fraud, most of which are preventable if you take care of your card and make sure you're staying safe online. As a credit card holder, you have rights, but it's always better to be safe than sorry, taking all the precautions needed to protect yourself from credit card fraud. In this guide, we share tips on how you can prevent credit card fraud and keep yourself safe both on and offline.
Card fraud relates to any fraud or theft that specifically involves a credit card. The card is used by the fraudster to pay for goods or services for themselves, or to steal money from the cardholder's account.
While the end result of credit card fraud is the same – to steal the credit (money) on your account – the first step a scammer will take is to access your personal details or get hold of your card.
These are some of the most common ways this can happen and how to prevent them:
Always keep hold of your card when using a card reader to pay – if you notice anything unusual about the card reader, don't use it. The same applies to using an ATM.
If you misplace your card and can't find it, call your bank straight away and either get it blocked or cancelled and a new one sent out.
If you think your personal data has been stolen contact your bank or credit card provider immediately to cancel the card.
Keep all your personal data secure, online and offline. Make sure that any confidential printed documents are destroyed or shredded before throwing them away, and don't leave any passwords or personal data 'lying around' on your computer where it can be easily found.
Detecting and protecting yourself from credit card fraud may seem like an exhausting full-time surveillance task, but with the right tools you can keep an eye on your accounts each day in no time. Spotting fraud sooner than later can save a lot of stress in the long run.
How do you know if you're keeping your cards and personal details safe? Here's some tips to get you started:
Your pin or password is often the only thing that keeps your money or account safe, so protecting them is a priority.
It may sound obvious but make sure you use different pins for different cards. That way, if you lose your wallet and all your cards are stolen, scammers don't have access to all of your accounts with one pin.
Remember, your bank or credit card provider will never ask for your pin or password in its entirety over the phone or through email. If someone calls or emails asking for your pin, it's likely they're a scammer. Hang up the phone or delete the email.
If you often make purchases online or use internet banking, you need to avoid scams or phishing emails.
Stay safe by following these tips:
Have a look at our guide for staying safe online for a more in depth information.
Sometimes we can put ourselves at risk of credit card fraud without even realising, so make sure that you're vigilant and protect your identity:
Online isn't the only place you can protect yourself from credit card fraud. Always keeping your credit cards safe is your best bet at protecting yourself in the physical world. If you're leaving your cards at home, make sure they're kept in a secure place where they won't be easily found. Just make sure you remember where they are!
If you're out and about there are a few steps you can take to keep your card safe:
The steps in this guide will not just keep you safe from credit card fraud, but also identity fraud. Although they may seem similar, credit card fraud is focused on people using your credit card details whereas identity theft refers to the theft of more personal data such as your date of birth, your address and bank account details.
This is often the first step to credit card fraud, and allows the fraudster to impersonate you, allowing them to take out other accounts or cars, or even register a vehicle or a business in your name.
If you suspect your Aqua credit card has been used for fraud, get in touch with our customer service team by calling 0333 220 2691 (UK) and +44 113 244 8986 (Abroad).
Failure to make payments on time or to stay within your credit limit means that you will pay additional charges and may make obtaining credit in the future more expensive and difficult.
Contributors
Team Aqua
Aqua’s contributors are experts in their field, from a range of backgrounds including banking and lending.
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