1. Money
Send to a Friend via Email

Video:Learn the Basics of Credit Card Protection

with Jerri Ledford

Credit card protection is important in preventing fraud. Here are simple tips for credit card prevention so that you can protect yourself against identity theft.See Transcript

  • All Videos
  • All Money Videos
  • Identity Theft Videos

Transcript:Learn the Basics of Credit Card Protection

Credit Card Protection Basics

Credit card fraud is a crime that can often be prevented. For example, something as simple as a signature on the back of your card could prevent the card from being used if it’s been stolen. Even better, put the letters CID (which stands for See ID) on the back of the card. Then when a merchant attempts to verify the signature on the receipt with the card, they’ll request to see your identification.

Don’t loan your credit card out. Don’t leave it laying. And don’t give the number to someone you don’t know without first verifying they are legitimate.

Other Strategies for Credit Card Protection

There are lesser known strategies for protecting your credit cards and you should know these well and use constantly.

Keep your card in sight. Some places, like restaurants, take your card away and then bring it back after they’ve secured authorization for a transaction. It’s when the card is out of your sight that it’s often swiped through a card reader that stores the information from the magnetic strip.

Ask about multiple swipes. Usually, this happens because the card reader doesn’t read the magnetic stripe on the back of the card, but savvy criminals will also use a second swipe as a method to copy the information from the magnetic stripe to a storage device.

Never use your credit card on an unsecured Web site. A secured Web site will have a small lock in the lower right corner of the page, or the status bar for the page.

Never carry multiple cards. Leave any card you won’t be using at home, and try to stick to putting all of your purchases on just one card.

Never give out your credit card number while you’re on your cell phone. If you need to provide your credit card number for a purchase while on the cell phone either request to call the company back from your own home, or find a place that’s private (like inside your car, alone).

Consider purchasing pre-paid credit cards for online shopping. Pre-paid credit cards are one of the best ways to protect yourself. You load the card with a set amount and then use it just as you would a regular credit card.

Be smart. Use caution. And always be aware of how your credit card is being handled by someone else.

Thanks for watching. To learn more, visit About.com.
About videos are made available on an "as is" basis, subject to the User Agreement.

©2014 About.com. All rights reserved.