Chip cards have an added layer of fraud prevention. Remember, when you shop online, your purchases do not come with the added protection.

Following the Federal Trade Commission, credit card fraud is the most common type. They estimate that the overall loss is about 150 million dollars annually. Knowing what to do when you are a victim of credit card fraud theft is key. You must practice credit card safety from the time you obtain a new card, making this an essential step to prevent fraud. Use these tips to help keep your information safe.

What is Credit Card Fraud

Someone else using your credit card for fraudulent purchases is considered credit card fraud. For example, when looking at your card account online, you may find transactions that are not yours. Even though card issuers such as an American express credit card typically do not hold you responsible for these purchases, you still need to be vigilant and look out for suspicious activity.

There is no approach to prevent credit card fraud entirely, but everyday acts could increase your fraud risk. Practicing credit card safety is worth it in the long run.

How can You Prevent Credit Card Fraud

Scammers have various methods to steal your information. There are numerous reports of fraud, increasing every year. Scammers who attempt to get your information look for the opportunity to catch you in a weak spot. However, knowing what to look for helps with your decision-making skills. These are a few…

Read more…