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Credit Card Security Precautions
Credit cardholders often aren't as careful as they should be - and the fraudulent
use of credit cards isn't limited to the loss or theft of actual credit cards.
All a practiced swindler needs is your credit card number. Fortunately, credit card
security is relatively simple.
The best advice for protecting credit card accounts is to never give the account
number over the telephone, unless you're confident you're dealing with a reputable
company. Don't be fooled by scams where a con artist wants to verify your credit
card number because you've won a prize.
One current scam involves con artists who call at random. The thief informs the
victim that if your VISA card number begins with the number four, the victim would
win a prize.
However, all VISA cards begin with the number four, and all MasterCards begin with
the number five. The only prize the cardholder gets is the fraudulent use of a
credit card.
Also, before leaving home, take all credit cards you are not going to use out of
your wallet and store them in a safe place. Never take your eyes off your card when
you're making a purchase, and make certain that no extra imprints of your card are
made to other charge slips. Destroy all the carbons so no one can obtain your
account number. It's also a wise idea to keep your receipts and check them against
the monthly billing statement.
In the event your card is lost or stolen, immediately notify the credit card
company. Most issuing banks or companies can be reached 24 hours a day, 365 days
a year. The majority of fraudulent charges are made within 48 hours of the loss.
Credit card thieves sometimes even call the victim, inform that person that their
credit card has been found and that it is being returned. This ploy gives the thief
time to go on a charging spree because the card holder never calls to cancel
the card.
Source: National Security Institute
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