5 Tips To Protect Yourself From Credit Card Fraud

Credit card fraud and identity theft have been plaguing consumers for several years.  While this problem is not a new one, many experts agree as the recession continues to deepen more people will likely find themselves victims of fraud and theft.  As con artists become more brazen and desperate families struggle to make ends meet the need to protect your personal data becomes even more important.  Consumers should be on the lookout for situations where their personal information is vulnerable and learn how to prevent becoming a victim.

Here are a few tips to help you keep your personal information protected.

• Never, ever give your credit card information or other personal information in response to a phone call or email solicitation.  The caller may claim to be from your bank, credit card company or other business and claim they need to verify or update your account.  Be aware that no legitimate company will ever request this information over the phone or any other form of correspondence.  If you are in doubt, you should hang up and contact your financial institution with contact information you already have (do not used return email or phone numbers given during the correspondence) to verify the request.
• Whenever possible keep you credit card in sight when making purchases.  A dishonest clerk or waiter can easily jot down your credit card information (including the very important security code on the back) in a matter of seconds.  For this reason you should pay close attention when completing a sales transaction; one minute talking on your phone or chatting with your friend is all it takes for your security to be breached.  Remember in this day and age when everyone has a cell phone (many with cameras) your credit card image can easily be captured and used at a later time. 
• Review you credit card statements.  Technology has made paying bills easy and convenient and many people even opt to not receive paper statements in the mail.  While this reduces the chances of your credit card information being stolen the old fashioned way, it also tends to make consumers lax in reviewing their statement closely.  If you review your statement and find bogus charges contact the issuer of your credit card immediately to report fraudulent charges.
• Take care when handling credit card receipts.  Most merchants no longer print the entire credit card number on the receipt however it is a good idea to keep all receipts in a secure location.  If there is an error when making a purchase insist on voiding and destroying incorrect receipts and never sign a blank receipt.  If you are using your card to pay for dinner and you leave the waitress a cash tip, be sure to draw a line through the section of the receipt where an amount for a tip would be written to avoid fraudulent charges.
• Use common sense.  Always know where your credit card is when you are out and about.  Do not keep your credit cards in your back pocket or in a jacket pocket where they can easily fall out or be stolen by a talented pick pocket.  When giving your credit card information over the phone, be aware of your surroundings and pay attention to those who may be listening a little too closely.  Finally when using your credit card for online purchases make sure the website you are using is secure.

These tips should serve as a reminder that with the potential increase of credit card fraud or theft you can never be too careful when it comes to protecting your personal information.  Preventing credit card theft is far easier than dealing with the repercussions should your information fall into the wrong hands.