Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Steps to Stay Safe from Credit Card Fraud

    In a fast paced world such as ours, everything takes place in an instant. Transactions such as withdrawal, deposits, purchasing goods and services, etc., everything happens within a short span of time. Thanks to their credit cards or debit cards, customers can also procure cash instantly by visiting any of the ATMs. it is safe to say that credit cards and debit cards have revolutionised the world of finances. These plastic cards come with an enormous number of advantages. However, there are also a number of instances wherein fraudulent occurrences have been linked to these cards as they are quite vulnerable. However, with proper care and precautions, credit card fraud can be avoided.

    Given below are some of the most common credit card related fraudulent instances that can occur.

    Credit Card Skimming

    This is a type of fraud wherein a small electronic device known as a ‘skimmer’ is used to steal credit card information. This usually occurs when the credit card is inserted into electronic devices such as Point of Sale or PoS. This card gets run through the ‘skimmer’ and information from the magnetic strip of the credit card or debit card gets captured and stored.

    This data can then be copied onto the magnetic strip of a blank credit card or debit card. This information is then used to withdraw money from the bank account or making purchases using the credit card details. This process is known as card skimming.

    In order to prevent the above from occurring, it is important for individuals to ensure that their credit card is always swiped in their presence. They should also not insert their credit card in any slot in case it looks suspicious or odd. Chip based cards are also a lot more secure in comparison and should be preferred.

    Phishing

    This is a type of fraud wherein email are sent to the cardholder from a supposedly reputed financial institution or bank that is known to the individual. This link, when clicked on leads to fake websites which ask for confidential information. Most cardholders fall for this fraud as the link that they would have received the mail from would seem genuine. However, most banks do not send any emails asking the individual to provide confidential information online.

    Hence, if anyone receives such as email or SMS, they must contact their bank or card issuer at the earliest.

    Keystroke Capturing

    Keystroke Capturing is a technique wherein individuals are conned into downloading a malicious software which is used by identity thieves or hackers to record all keystrokes used by the cardholder when they type in their credit card details. These details are then utilised by them to make online transactions using their credit card.

    In order to prevent this fraud from occurring, cardholders must always have an antivirus application on their computers and smartphones. This helps to keep out malware and spyware. Also, secure websites start with ‘https’ and ‘http’. Online transactions must only be conducted in such websites. Also if the ‘http’ is in red and not green, such sites are most likely not secure.

    SIM Swap Fraud

    In case of a Swap Fraud, the identity thief would contact the mobile operator by showing the identity proof of the cardholder, which would be a fake. This fraudster will then apply for a duplicate SIM card and the mobile operator in doing so, would also deactivate the actual number of the cardholder. This fraudster would generate an OTP on the phone using the SIM and conducts transactions online.

    In case an individual suspects this of occurring, he/she must immediately contact their mobile operator. In case their phone goes out of service suddenly or if they receive a message regarding a duplicate SIM request, the individual must immediately contact the relevant authorities.

    It is always better to be safe rather than sorry. By keeping the above points in mind, individuals can prevent their credit card from being misused by fraudsters.

      

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    Check for Attachments Reviews

    • Bank Bazaar Credit Card
      "USERFRIENDLY PORTAL TO USE"
      0.5 4.0/5 "Great!"
      It is the second time experience with the Bankbazaar.com as i am using it through the website as the portal is convenient and user friendly portal to access. The customer support and responsiveness is good by explaining the details of the card.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2019
    • YES Bank Credit Card
      "Highly disappointed with the credit limit"
      0.5 1.0/5 "Really Bad"
      Yes bank has given the very lesser credit limit of only 33 thousand. But while purchasing the card they said they will provide up to one lakh as a credit limit to me . This is completely miscommunication has happened to me . I am going to cancel this card very sooner .
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Good reputations in Digital market"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar has good reputation in the online market . Customer can have the trust and login in with their personal information in the portal . I got a earlier call from them for the Credit card proceedings . They have chosen the correct card and dispatched on time to me .
      Was this review helpful? 0
      , indore
      Reviewed on Apr 23, 2019
    • ICICI Bank Credit Card
      "Very good"
      0.5 4.0/5 "Great!"
      This is life time free card no need any annual charges and in this card cash back offer but not much sometime got cash back last five month above I have ICICI bank credit card and I am satisfied with credit limit 45K and their customer service is good and response is also good , I am happy with this credit card,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • American Express Credit Card
      "Good"
      0.5 4.0/5 "Great!"
      I got credit card within 7 days after approval , this is chargeble 500 rupess and here rewards point offer , reacently I got american express credit card , I am satisfied with credit limit 50K , and their allover service is good , I am satisfied with this card,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      It is the first time experience with the Bankbazaar.com as i am using it through the mobile application as the application is convenient and user friendly to access. The customer service is good and they are responsive as they explain the details of the card.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • SBI Cards Credit Card
      "Average card"
      0.5 3.0/5 "Satisfactory"
      I have STATE BANK OF INDIA credit card . They offered 10000 of limit but i need 30000 so i am not happy with that . Offers is nothing very limited only i ma getting reward points .There is joining fee but once i do the transaction of 30000 the fees will be waive off .
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      For couple of months i am using bank bazaar website . The whole application process was smooth and hassle free. I never had any issues with the services. The customer support follow up was also effective during the application. Only when i call them they are not responding .
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 23, 2019
    • American Express Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I am using the AMEX CREDIT CARD for a very long time where the services had been quite good. The credit limit with this card is sufficient and there is some added benefits in using this card as well. The card is a life time free card and i am using the card for all sort of purposes. There has been some good reward point system with this card and the cash back offers are also good with the card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • IndusInd Bank Credit Card
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I hold INDUISND BANK credit card , i was using this past 1month . They charge very reasonable interest rate and they have not charge me any annual fee which is good . Offers are good here in restaurants , traveling , reward points . This is good card and useful too .
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 23, 2019
    • SBI Cards Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been more than five years since i am using the SBI CREDIT CARD, the best thing with the card is the reward point system which it has. There is a good credit limit with this card and there has been some annual charges as well. I am using the card for all sort of purposes where i am getting some very good benefits by using it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • ICICI Bank Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been six years since i am using the ICICI BANK CREIDT CARD, the services of them has been good where there has been some very good offers they are providing as well. I am happy with the credit limit with this card and i am using the card for all sort of purposes like shopping. There is a good cash back offer which i am getting through this card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • American Express Credit Card
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The documentation process was smooth and simple with the applying credit card from AMERICAN EXPRESS BANKING CORPORATION, it is a payable for the first year of 500 rupees. The credit limit is good. I got the card within week. I am not using the offers from this card.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using the services of BANK BAZAAR for the last two to three years where the services of them has been quite good. I had been using their mobile application which is having a good user interface, their customer support team has also been responsive where they had been helpful while getting my credit card through them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • HDFC Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken the HDFC BANK MONEYBACK CARD since there is offers with this card on some online shopping portals. The process in getting this card was simple and easy, the card also was delivered on time. There is some annual charges of 500 with this card with a waver off option. I am satisfied with the credit limit with this card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • SBI Cards Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using the SBI CREDIT CARD for a long time and the services with them has been quite good, i am satisfied with the credit limit with this card and it has some good reward point system, based on that i am using it for multiple purposes. There is also some annual charges with the card.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Standard Chartered Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a long time since i am using the STANDARD CHARTED BANK CREDIT CARD, where i am quite satisfied with the services provided by them. It has a good credit limit and there are added benefits with this card where i am utilizing it accordingly. The has not been any issues faced with the banking services of them so far and i am using the card for many purposes according to the benefits provided by them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Citibank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been over five years since i am using the CITI BANK CREDIT CARD, i am happy with the services provided by them. There has been some good benefits in using the card which mostly comes like reward points while purchasing fuel. There is some annual charges but if i am using a certain limit it will get waved off.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • HDFC Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using the HDFC BANK CREDIT CARD for more than six years where the services had been really good. The credit limit with the card is good and there is some benefits with this card which comes like reward points and cash back offers. The annual charges with the card will get waved off as per the usage.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I was just looking in the INTERNET and came to know about the services of BANK BAZAAR, where initially i checked my credit score through them. The web portal with them is quite convenient in using and their customer support team is also really responsive. I had also applied for my credit card through them where the experience in getting my card has been easy.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
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