How are credit card companies protecting you from fraud?
Wednesday July 2, 2008
As credit card fraud is on the increase, credit card companies are trying to protect you from being scammed. Credit card companies do have measures in place to help protect customers and businesses from fraud.
If a credit card company notices an unusual withdrawal or suspicious activity on your credit card, they will normally contact you. If your credit cards are stolen or lost, contact your credit card companies immediately.
Credit card companies also need your help in keeping your credit cards from being scammed. As a credit card user, you should:
- Protect you PIN and change it on a regular basis.
- Check your account balance and report any discrepancies immediately.
- Don't reveal your credit card details to anyone else.
- Only buy from reputable online stores.
Credit card companies encourage merchants to take precautions against fraud by:
- Having secure equipment.
- Not make third party transactions.
- Properly checking the credit card and paying attention to the signatures.
- Being aware of suspicious behaviour when the customer is paying.
- Report suspicious transactions.
- Verify transactions correctly when the credit card is not present.
Find out more about credit card companies with our About Credit Card Companies page and check out our Credit Card Tips page.
