Has your credit card been stolen or fraudulently accessed in the past? Many of us have been there, though we aren’t too sure what measures to take to prevent future occurrences.
Be Wary of Phishing & Skimming
If you’ve worked in an office setting before, you’re likely aware of phishing scams. Phishing is a common scam that can fool users into revealing certain personal information – especially credit card information such as card numbers. These scams can occur over email, phone calls, texts, or even snail mail. You can spot a phishing scam by looking for strange requests for sensitive information,
On a similar note, skimming occurs when your credit card number is stolen during a normal transaction, and used to create a counterfeit card or carry out online transactions that don’t require a physical card. From restaurant waiters and harmless baristas to call center operators, skimming can happen anywhere and to anyone.
Keep these three steps in mind to proactively protect yourself from fraud moving forward.
1. Assign a Role to Each Card
Go above and beyond to protect yourself from fraud by designating your cards for different expenses. Consider using one of your credit cards strictly for autopay purposes like phone bills, car expenses, and online subscriptions. Don’t use the credit card for anything else, such as grocery shopping – you can designate another card for that. Since your “expenses” credit card isn’t being swiped left and right in retail stores, restaurants, or gas stations, your risk for fraud can sharply decrease. Although your credit card for daily expenses won’t be heavily protected, it saves you the trouble of changing your auto-pay accounts with a new card and potentially racking up a late payment fee.
2. Minimize Damages After Identifying Fraud
After realizing your credit card has been stolen or fraudulently accessed, the next step is to limit any further damages. Check your financial statements and review the transactions to ensure that they’re yours, and check your credit reports regularly to identify suspicious activity and changes in your score. Most of all, if your wallet or credit card information is stolen, act fast and cancel your cards immediately. At Camino Federal Credit Union, we list contact numbers for stolen debit and credit cards on our website so that users can reach out and cancel it prior to heavy financial damages.
3. Protect Yourself from Fraud with Camino
At Camino, the safety of your financial assets is our top priority. With the nuances of credit card fraud and how easily phishers can invade your private information, thieves still slip through the cracks from time to time. For this reason, we list 24/7 support lines on our website to call if your credit or debit card has been lost, stolen, or is being fraudulently accessed so as to minimize any further damage.
We invite you to review our member benefits before joining us as a member. Contact us at (800) 835-3400 for one of our Member Advisors, or visit us online at caminofcu.org for more information on our offerings.