Credit Card Fraud Prevention Tips

Credit card fraud is something a lot of us worry about it. If we find ourselves the victim of credit card fraud, not only can we lose the money attached to that card, but our credit score could also be affected. It's important to stay alert to all types of credit card fraud so that we can prevent falling victim to any of them.

Credit Card Theft

A common method of stealing your credit card information is the old-fashioned, nimble-fingered method of stealing your credit card. It's important to treat your credit card as if it were the actual cash value of the card.

If your credit card has a withdraw limit of $1000 dollars, you're effectively carrying $1000 in cash, so keep your card safe.



If you ever have a credit card mailed to you, perhaps as a replacement for an old card, you'll want to make sure your mailbox is secure. Install a lockable mailbox if possible, and check and clear the mailbox every day. If you know you're going to be away from home for an extended period, let the postal service know and they can hold all your mail at the post office, safe and sound, until you get back.



Credit Card Skimming

Credit card skimming involves a small device sitting over a card reader, like when you're paying for something at a store or getting cash out at an ATM. However, most machines in Australia have means for preventing this kind of fraud, as they have chip readers. Chip technology helps to keep you safe from card skimming. Another way to prevent this credit card fraud is to make sure your card is always in your sight when you're making a payment.

Credit Card Phishing Attacks

Phishing attacks are one of the easier credit card fraud attempts to avoid. Phishing involves a scammer contacting you and asking for your credit card details. No one should ever ask you for your credit card details over the phone unprovoked. A scammer might also reach out via email for your credit card details, and that is also untrustworthy.

This kind of credit card fraud prevention can protect you from other attacks as well. Never give out personal details to a stranger over the phone, via email, or through any other method if you aren't 100% sure the person on the other end is trustworthy. You never know what they will do with those details.



Using Credit Cards Online

Shopping online is increasingly popular due to the convenience of shopping from home as well as the potential savings you can find online. But like with anything, there's a level of risk involved in shopping online because not every website is secure. You can cover yourself somewhat by taking advantage of PayPal, a secure service that steps in between you and the store to keep your payment details secure.

When shopping online on your smartphone, you can also use the latest tech for secure shopping. Biometrics live thumbprint or facial recognition keeps your payments secure and locked to your face and/or thumbprint. Your phone may offer a wallet service that will interface between you and the store, or once again you can use PayPal as it has started to utilise biometrics as well.

Some people aren't comfortable using biometrics or PayPal, which is fine. But if you're in that camp, it means you must be responsible for your shopping and make sure that you never purchase anything from a suspicious website. Check to see if your connection is secure by looking for the little lock icon at the top of your browser in the URL bar – if it's locked, the website is secure; if it's unlocked, the website is not secure.

Credit Card Phishing Attacks

Phishing attacks are one of the easier credit card fraud attempts to avoid. Phishing involves a scammer contacting you and asking for your credit card details. No one should ever ask you for your credit card details over the phone unprovoked. A scammer might also reach out via email for your credit card details, and that is also untrustworthy.

This kind of credit card fraud prevention can protect you from other attacks as well. Never give out personal details to a stranger over the phone, via email, or through any other method if you aren't 100% sure the person on the other end is trustworthy. You never know what they will do with those details.

As a golden rule, never give out personal information to a source you can't be sure you can trust.



Credit card fraud prevention is a skill we all need to learn now. But it doesn't have to be complicated. If you come across something that feels in any way suspicious or not secure, don't follow through. No one can force you to make a purchase that doesn't feel safe. Just keep an eye out for fraud and take every precaution you can.