Using Technology to Protect Yourself from Credit Card Fraud

Padlock on red credit card.Credit cards can be extremely beneficial, but when they become lost or stolen it can be a nightmare. Newer technology exists that can aid in reducing the negative impacts of misplacing a card or having it stolen. Depending on which credit card company you use, here are a few tips to protect yourself from credit card fraud.

Credit Card Alerts

Most major credit card companies, such as Capital One, Citibank and Chase, can provide you with different types of alerts regarding charges on your account. These alerts can come in the form of a text, e-mail or phone call, and can be triggered for a variety of reasons.

Alert Types

Some of them include when your balance reaches a certain amount, or when a charge above a specific threshold is made. Some credit card companies also ping you when you’re a set amount away from your credit limit, or if an unusual charge is detected. In many cases, you have the option to reject the charge right or manually approve it.

Free and Easy of Use

Many institutions, including your local banks and credit unions, provide this alerting service at no additional cost to you. Setting up text message alerts, automated phone calls, or e-mail alerts is usually a simple click of a button, and you can oftentimes set the parameters for when alerts are sent based on the type spending or transactions that take place.

Temporary Credit Card Numbers

Bank of America, Capital one and Citibank, along with many others, will allow you to generate temporary credit card numbers to use for specific websites. This way you can still purchase that pair of shoes you’ve been dying to get but isn’t available at your typical shopping place without worry about thieves absconding with your permanent credit card number and charging up a storm.

Ordering by Telephone

Many online stores also have a 1-800 number which gives you the options of placing your order over the phone instead of online.

Browser Storage

Although it is easy to utilize auto-fill features for online shopping, many experts recommend avoiding this perk. Depending on your knowlege and situation, you might now want to allow your browser to maintain your credit card numbers to help keep your information safe and secure from others.

EMV Chip Credit Cards

In October of 2015, EMV chip cards were rolled out across the United States, replacing all magnetic stripe cards. EMV chip credit cards are more secure because they generate a unique transaction ID with each swipe or purchase. This makes it far more challengings for thieves to retrieve card data. If your card issuer has yet to issue you a chip card, get in touch to see when that will be headed your way or request it for each of your cards.

On/off switch

Some smaller credit unions and banks have adopted an on/off switch for debit or credit cards. This software was originally created by Malauzai Software and was strictly for those who lost or had their cards stolen. More and more they found people were using the technology to turn their cards on before they made a purchase, and off following. You may find it useful if you issuer provides such a tool.

There is also software from TSYS, which geo-fences the transactions – only those close to a user’s mobile phone will go through. Many credit card issuers offer this feature – check with them to see if it is available and how to enable it if so.

Final Thoughts on Using Technology to Protect Yourself from Credit Card Fraud

Losing your credit card can be an annoying situation, but the above technology and steps can make it a lot easier. Remember to check your credit card statements or transactions online periodically to catch any fraudulent charges that may get through. Be proactive in contacting your credit card company when you think a charge doesn’t below, and dispute it when necessary to keep your credit cards in check.

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Posted on June 7, 2021 by in Credit Cards

Comments & Discussion



One Response to “Using Technology to Protect Yourself from Credit Card Fraud”


  • On June 16, 2014, Caleb wrote:

    Credit card fraud of identity theft is something we are all susceptible to. There are services that will help you protect your finances and identity and notify you any time suspicious activity occurs.




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