Credit card scams are more common today than ever before. It’s vital that you are as careful as possible when inputting your credit card information online. Unfortunately, scammers will take advantage of your trust in any situation they can, and have created highly-believable fake emails, websites, and more to take your hard-earned money. Here are some tips to identify when you may be at risk of being scammed, the most common strategies scammers utilize, and how to avoid them as often as possible.
Most Common Credit Card Scams Today
Identity Theft
In the last few years, the pandemic has changed our way of life. We’ve relied on technology heavily in communication, keeping our jobs and our kids learning. Unfortunately, this led to all different types of new scam methods popping up for identity theft. These commonly play on new struggles that we’ve all had to face, such as COVID-19 relief, vaccines, and more. An especially common one came up right when vaccinations became more common. Thieves would digitally ask for your information to be updated, which in turn gave them access to more of your information for simpler theft online.
Additionally, it’s difficult to track, given the number of hoops that some hackers are willing to go through. Luckily, the majority are inexperienced and lack execution.
Making Payments Online
Posing as your cellphone provider, your bank, or another credible source is extremely difficult to mitigate the fake from the real. You have to be particularly careful with these. Check with your bank through their website, for example, and give them a call to confirm the notice if you’re in doubt. Most of the time, the email demanding any kind of action immediately will be fraudulent.
Interest Rate Reducing
Reducing your interest rate is something that is so appealing its hard to pass up. Always be skeptical if you get a call with any sort of special connection, adjusted rate, or anything along those lines out of the blue. Especially consider how your recent credit has been performing or what you’ve done recently to warrant this call to reach out to you. In most cases, it’s fraudulent call and should be blocked.
New Strategies to Limit Credit Card Theft
Two-Factor Authentication
Enable this for every service you have that it’s compatible with. You won’t see the difference today, but you’ll be glad you did if your card ever gets leaked. Two-factor authentication simply makes it more difficult for hackers to access your information. Even just adding one more hurdle will deter so many, as the low-hanging fruit is what they’re after. Make it as difficult as possible for them with little added security points like two-factor authentication.
Any questions about credit card fraud? Contact us today at PayProTec West Coast, and take a look at our safe-banking solutions!