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It’s a simple rule to follow.
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The fact that the world has gone increasingly digital is a good thing in theory, as it can make life easier for consumers. But there’s a downside as well. Now that people are doing more shopping and banking online, criminals have even more opportunities to target consumers and attempt to steal their personal data. Criminals also have added opportunities to get a hold of bank and credit card information, and to use that data for their own financial gain.
Now in some cases, there’s not much you can do to prevent financial fraud. If your bank or credit card company experiences a data breach, you may find that you end up with a problem on your hands. But there is one step you can take to lower your chances of credit card fraud. And it’s a really simple one, too.
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Never respond to unsolicited communication
A big way criminals are able to access financial data is by scamming consumers directly. So if you want to avoid credit card fraud, make it a rule to never, ever respond to an unsolicited phone call, email alert, or text message.
You might get what looks like a legitimate alert from your credit card company telling you to click a link to verify a recent transaction. But you never know when that alert might be fraudulent in nature. And clicking on a link or responding to a message like that could open you up to a world of trouble.
For one thing, if a criminal gets access to your credit cards, they could rack up charges against your balance. Even if you’re able to get those charges wiped out eventually, you could run into temporary problems if they cause you to exceed your credit limit.
So what should you do if you think your credit card company is reaching out to you with a legitimate issue or question, but you’re not sure? The answer is simple: Pick up the phone and call them rather than respond to an email or text message. And if you get a call from someone claiming to be from your credit card company, tell them you’ll call in using the number on the back of your card and settle things that way. If you’re the one to initiate a call to your credit card company, you can rest assured that you’re not dealing with fraudsters on the other end of the line.
A good rule to follow
Many people are used to random emails, texts, and even phone calls. But be very careful when you’re contacted by anyone claiming to be from your credit card company, bank, or another financial institution you do business with.
Digital fraud is huge these days, and even if it doesn’t end up costing you money or causing you credit score damage, it can still be a major hassle and source of stress. A better bet is to do what you can to avoid falling victim to fraud in the first place. And pledging to never respond to unsolicited communication is a good way to go about that.
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