How To Handle Credit Cards
How to Avoid Credit Card Frauds and Other Scams
Nowadays, the majority of online transactions are done using credit cards. The use of this payment method has increased by a large margin and with this increase in the number of card users, the frauds and cyber crimes also increase.
Credit card frauds and other cyber scams are not new for any person, but for those who have been using this payment mode for a long time and want to stop using this method, then this article is for you.
Here are some of the most common frauds and scams that you can easily avoid with the use of the credit cards:
Spoofing and skimming
Most of the time, when we use the credit cards, we don’t check the amount or we don’t see the account holder name. But the moment we see the payment button, we quickly press it and we get the bill on our screens.
But a small portion of the bills are generated without pressing the payment button at all. The people who do this activity are called skimmers. They hide in the ATM machines and generate the bills without pressing the button.
They then take the money from the machine and disappear. In the UK, the number of incidents of card cloning is increasing day by day. People have to be careful while using the card, as once the fraudsters have cloned the card, then they can easily use it.
Use the PIN and not the password
The most important thing that we need to remember is that it is better to use the PIN of the credit card rather than the password. The password is the unique alphanumeric code and the one which can be easily guessed by the fraudsters. The PIN is the code of 6 digits that is created by your bank and your cardholder.
In order to get this code, go to the website of your bank and enter your login details. If you are using an American Express card, then you will be asked to enter the security code provided by your card.
Always check the transactions
After using a card, we should always check all the transactions. Fraudsters use different tactics to make fraudulent transactions, but the most common ones are as follows:
Replay
The fraudsters will make the same transaction at the same time and if the system accepts it, they can get the same bill.
Overcharge
If the person uses this technique, then the fraudster will charge more than what is required for the payment.
Fraudsters will ask the person to pay with a new card and if the card is not verified, then it will be accepted.
Also read this 5 Important Features to Check Before Buying A PC
Conclusion:
We have all heard of the stories of people who have lost their money due to frauds and cyber scams. You have to be very cautious in using the credit cards.
If you can’t avoid the frauds and scams completely, then at least you can try to avoid the most common ones. Use the PIN and not the password and always check the transactions.
