June | 2013 | Credit Talk Car Finance Help

In this 9th installment of “Teaching kids about credit” we will talk about

Protecting against credit card fraud

Protecting against credit card or debit card fraud is not always something that is 100% controllable. What we do have control over is how long we let that fraud continue. With the technology now to take information from our credit cards and bank cards, all we can do is protect our PIN # to the best of our ability. I would suggest for Credit card PIN numbers and debit card PIN numbers, not to keep them written down in your wallet, and certainly don’t have them in your phone unprotected. With a credit card the 3 number security code on the back of the card is very important(for American Express the 4 digit on the front). The security code is usually needed when purchasing goods online.

Purchasing goods online is a very easy way to have your credit card information stolen. It is my opinion that you should always check the history of the website you are ordering from. Check the URL of the website and make sure it is HTTPS and not just HTTP. Another option you have is to actually call the online shop in person and provide the information over the phone. Of course, this would be putting trust into the person on the other end.

When you use your credit card for purchases always use the CHIP feature of the card. This is apparently designed to make it harder for thieves to get the information from your card. Most credit cards now will have an option for credit card protection. It is a fee you will pay to have your card protected in case of fraud activity.

Their are online downloads you can make like https://check.me/ . This company is a great solution to real time purchases. It is designed to let you know exactly what activity is going on with your bank accounts at all times. It will link to your accounts and give you one website to see all your transactions, and balances.

Just My 2 Cents

-M

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