The Easy Way To Protect Yourself Against Credit Card Fraud

Using the Internet and buying on the Internet has its risks. Among the most potent risks are credit card fraud and identity theft. Protecting yourself against credit card fraud is not impossible, however, there are steps you can follow to minimise the chance of fraud. Above all, if you are a victim of credit card fraud you should contact your credit card issuer immediately. You will find an emergency 24-hour number printed on every statement. Unfortunately, your card will be cancelled but a new one will be reissued within 5 to 10 working days.

Meanwhile, as a cardholder you should protect themselves on a day to day basis by ensuring that you:

* Keep your personal records secret: Never tell anybody or write down your PIN number or passwords. If you have difficulty remembering the number choose an easily remembered number, which isn’t your birthday. * Cover your tracks: Always destroy and shred whenever possible. * Get extra protection: Mastercard and Visa offer a registration scheme, which is a free service. Once registered you will have to enter an additional password for online transactions. * Protect your PC: Make sure you have up to date anti virus and firewall software installed. A ‘phishing filter’ will protect from fraudsters who attempt to acquire your account numbers and passwords. * Beware of cold callers. * Never email your financial details to anybody. * Be cautious in shops to: Always use your spare hand to cover your other hand whilst entering your PIN in the machine. The same applies at cashpoints too. * Be vigilant: Always check your credit card statements. You should always file and keep all credit card statements. * Cover yourself: Think about taking out additional Identity Theft Cover with your bank or credit card supplier.

Identity theft is as serious as credit card fraud and it can happen to even the most cautious. Your identity can be stolen and then used to get loans and even mortgages without your express permission. These loans are taken out in your name and, if defaulted upon, leaving you with the debt. Some credit cards do offer additional identity theft cover, but there is usually a monthly charge for this additional service. This might be worth considering, particularly if you travel widely, or use your credit card extensively, thereby putting you more at risk.

‘Identity Theft Cover’ will cover you and help you to prevent, detect and defend against the theft of your good name. It can take up to 400 hours to clear your name through all the individual credit agencies. However, with cover, this would be entirely dealt with by their team of experts on your behalf. It is possible in the worst cases of identity theft that your bank accounts become frozen pending investigations. Some policies would provide you with adequate funds in this eventuality and cover your legal fees. This type of cover may also offer: * UK-based helplines * Identity theft prevention information * Secure document registration facility: Have all your credit cards listed – so that one phone call can freeze them all * Real time credit reports: email or text message alerts you to any change in your credit status * A case specialist assigned to you if you become a victim * Cover for legal expenses and other costs

If you are cautious and take all the recommended steps to protect yourself, you will be sure of protecting yourself against credit card fraud and identity theft. Think carefully before choosing your credit card and find one that will cover you against fraud. Even if this seems like one more added expense, it could end up saving you thousands of pounds and a great deal of stress and worry.

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