5 Ways Credit Card Information Is Stolen
Credit cards are a convenient way of making a purchase immediately, even if you don’t have the cash on hand at that moment. This purchase can even be interest-free if you are able to pay the purchase amount back within the interest-free period.
E-commerce has given a boost to the usage of credit cards and even allow users to save their information online for enhanced convenience. In the pursuit of convenience and ease of use, security can sometimes take a backseat. Here, we will inform you about the ways your sensitive card information can be stolen.
Saving your details online
Convenient as it is, storing your credit card information online at merchant sites and other platforms is a move that comes with its own risks.
Saving your credit card details for future transactions makes it prone to misuse and data theft from hackers. In case the site gets hacked, your valuable information will also be compromised with it.
The best way to avoid such a situation is to not store your data, but instead feed the information manually every time you make a purchase. This will ensure that your credit card data is not exposed to malicious elements.
Unattended Card
As simple and foolish as it may sound, this does happen. And, it does not take more than a minute too. This should be paid close attention to, especially when shopping at your local supermarket.
Even leaving your card at the counter for a moment can give enough time to someone make a note of your precious details, such as your card number and CVV code.
The best way to combat this is to ensure that your card is in your sight at all times. Take your card out only for carrying out the transaction and then keep it back immediately. Also, be on the lookout for suspicious activity around you while using the card.
Fraudulent Calls
Many of you must be familiar with the term ‘phishing’. These are people who try to obtain your credit card and other bank details by posing as a representative of your bank or other trustworthy entity.
The reason given for the call can be anything from verifying your details to intimation of some important announcement.
It should be noted that banks never call their customers to obtain credit card details or any other personal information.
When you get one of these calls, the best way to deal with them is to disconnect.
Social Media
Social media sites are a good way to connect with friends, but not with strangers. Thieves and fraudsters are using these platforms to lure unsuspecting people into divulging their financial information.
The modus operandi is to befriend people of certain age and interests, and then weave a story that plays on their soft side. A story that ends with these people losing some or most of their savings, or worse, getting in to a debt trap.
Not accepting ‘friend requests’ from strangers and communicating with only people that you know, is the best way of staying away from such devious schemes.
Skimmers
Skimmers are devices that are attached to ATMs or credit card readers. These devices capture the card details without hindering the performance of the payment terminals. The thief can then replicate your card information on to another card or just steal it from your bank accounts.
Therefore, when using your cards for any transaction at a physical terminal, always be on the lookout for suspicious attachments. Keeping an eye out for any peculiarities in the machine can save you months of regret.
If the above points are kept in mind while using your credit card, then this financial instrument can be enjoyed to the fullest. If you don’t have a credit card yet, you can opt for Bajaj Finserv RBL Bank SuperCard. A credit card that is packed with great features such as low annual fee, emergency loan, airport lounge access and surcharge waiver among many more.
This Bajaj Finserv SuperCard is one of the best credit cards in the market and offers superior features. It is also one of the most secure with safety features such as ‘In-Hand’ security and ‘Zero-fraud liability cover’.
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Category: Credit Cards
