Avoid Scams

There are thousands of credit card scams floating around. Even though people are more wary of identity theft and credit card scams, credit card fraud is on the rise.  With the Internet, there's a vast new repository of information that scammers can use to steal vital information.  Some scams target the elderly, while others target people who are looking for quick debt relief - a variant on the get rich quick scheme.  If you don’t want to be taken advantage of, then you need to keep abreast of the latest scams out there. To do this you will want to periodically research credit scams.
 
One of the selling points of a credit monitoring service is that it will catch credit scams in the act, well beyond the protection offered by credit cards.  So while it's important to know about the different types of scams, and how to avoid them, a credit monitoring service is the best way to avoid the expenses associated with these scams. 

Protect Your Credit Card Information

Protect credit card information by:

1. Signing your credit card as soon as you get it.
2. Taking advantage of credit card security features like photo credit cards.
3. Only using secure websites when making an online payment.  Make sure that the URL of a website is legitimate.  Even a one-letter difference can mean you're at a fraudulent site phishing for credit card numbers.  
4. Never giving out credit card information over the phone to an unknown company or charity.
   
5. When using the card in public, always make sure that you keep an eye on how the card is used at the register.  This is a bit more difficult in restaurants, where a waiter takes the card away from the table.  Waiters use a tactic called credit card skimming, in which they steal credit card data.  Because of this, it's recommended that you use cash when dining out.   
6. Ordering your free credit report to ensure that there has been no fraudulent activity. 
   

Survey Your Credit Card Bill

Beyond using a credit card monitoring service, you should also go through your credit card bill every month.  This means going through every transaction on the card.  It's important to note that some purchases may be listed differently than the actual point of sale.  It can also be difficult to remember purchases from the beginning of the month.  So you should not automatically be worried about a scam if you see an unfamiliar transaction.  This is especially true if you share the card with a family member.  Still, it's very important to go through your credit card bill month to month and make sure every payment is accounted for, no matter how small.

Shred Credit Card Documents 

Using a paper shredder is also enormously important.  Don't just throw your credit card bill in the trash, as the information on a credit card bill can be used by scammers.  If you are wary of shredding documents that you may need for tax purposes or to return an item, keep your credit card bills in a safe location, such as a locked safe.  The general rule is that you should never throw away complete credit card bills in the trash - especially if the credit card bill includes cash advance checks.  

First of all don’t lend your credit card to anyone else. When you do this you are putting your credit and financial safety at risk, even if you lend your credit card to someone you trust.  Another common mistake that people make is writing their account number on the outside of their payment envelope. By taking all of these steps, you should be able to avoid credit card scams and keep your identity safe.