How to Protect Yourself from Credit Card Fraud

Credit card fraud can happen to anyone – often when you least expect it. A quick trip to your favorite coffee shop or a simple online purchase could be all it takes for scammers to get hold of your information. Knowing how to spot warning signs and protect your accounts can make all the difference. Here are a few tips to help keep your finances and peace of mind secure:

• Follow your gut instincts. If something doesn’t look right, take the time to double-check. Before swiping or inserting your card, look for signs for tampering like loose parts of damaged card readers.

• Secure your online shopping. Stick to sites you know and trust. Make sure the web address starts with “https,” skip public Wi-Fi, and use a digital wallet when possible, for added security.

• Protect your passwords. Choose passwords that are hard to guess, and don’t use the same one for every website or app. Say “no” to offers to store your login information, as this can easily allow someone else access to your accounts.

• Choose security over convenience. It may be tempting to let online retailers save your payment information for next time, but doing so can make your information more vulnerable. Instead, enter your details manually for each purchase and always log out when you’re done shopping.

• Watch for scams. Fraudsters love to tug on your heartstrings, asking you to donate to those in need or posing as your own loved ones in need of help. Before you honor any requests, make sure the nonprofit you’re donating to (and the way they’re asking you to pay) is legitimate, and initiate contact with your family member or friend yourself before responding to a fishy text, email, or phone call.

• Monitor your accounts. Unfortunately, you may never know when your information is being stolen. Keeping an eye on your accounts helps you identify fraudulent activity sooner and report it earlier, which can save you money and hassle in the long run. Sign up to receive account alerts offered by your financial institution. PSECU’s free e-Alerts service has more than a dozen to choose from.

• Monitor your credit. In addition to using existing accounts, fraudsters may open new credit cards in your name. Taking advantage of your free credit reports each year (you can get them at AnnualCreditReport.com) helps you identify and shut down any fraudulent accounts.

Credit card fraud can happen quickly, but the right habits can help you stop it before it starts. Staying alert, reviewing your accounts regularly, and using secure technology can make all the difference. At PSECU, we’re committed to protecting you and your accounts every step of the way. For more tips on safeguarding your personal and financial data, visit the Fraud section of our resource center.