Credit Card Scams To Watch Out For

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Credit card scams are everywhere. Scammers use several tactics to get the credit card information of an individual so they can conduct credit card fraudulent activities.

You could be a victim of a card scam or fraud without even knowing it.

To guide you accordingly, here are some of the common credit card scams to watch out.

  1. Confirming your information

There are many scammers that pretend to be a representative from a card provider. Then, they will ask or confirm for your information, asking you to provide you with your bank account number and/or CVV. This can be done through a phone call or email.

How to avoid:

Credit card provider will not directly ask for your information. Usually, they will ask you to go to their branch and update your information by yourself. Plus, do not click on links in emails. Some scammers send email account verification as well to get your private information.

  1. Free Wi-Fi

Free Wi-Fi in an establishment is a great use since it enable you to connect online instantly. However, a free internet connection is not always a safe place. Some scammers or hackers can set up a free Wi-Fi hotspot where user can utilize this without entering passwords. They can get all your credit card and other personal information.

How to avoid:

When using public Wi-Fi, refrain from doing any financial transactions. Do online banking when you are connected with your own network.

  1. Credit card skimming

Credit card skimming refers to the process of stealing information via a small device. It is usually happen when you are using your card to purchase an item or service.

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How to avoid:

Avoid using credit card readers that looks like it has been tampered. If it is look like it’s been compromised, use cash instead. Furthermore, always cover hand when entering your PIN code.

Tips on how to avoid being victim of credit card scam

  • Always check your account online

Monitor your billing statement regularly so you can immediately see if there are fraudulent activities in your account. Additionally, every after purchase, check your transaction history. This can be done via the mobile app of your credit card provider.

  • Use credit card security feature

Many credit card companies provide security feature like one-time password. Utilize this type of security to have an added protection to your account. Check the security feature of your HSBC red mastercard and see what security protection you can get.

  • Do not easily give information via phone call no matter how legit it seems. As mentioned above, many scammers use this trick to get confidential information.
  • Be cautious when buying online

Often, we use credit card as payment tool when buying something from online shop. Before buying anything, check the website first. Avoid sites that do not offer secure payment platform.

  • Stay digitally protected

Install security and anti-virus software on your computers. Plus, keep your mobile phones updated. Doing this will alert you if you happen to interact with a suspicious site.