Credit cards are a financial tool that plays a significant role in everyone’s daily life. These cards carry an individual’s personal information and are connected to their bank account. Such connection has led to credit card fraud, where someone either virtually hacks the account or steals the card. It becomes a challenge for the fraud victim since they incur unauthorized charges on their card that result in high bills. Even the credit score can be potentially damaged if the credit card balance increases drastically.
In this case, start with reviewing the sections below and understanding how credit card fraud occurs in the first place. Then, understand how you can prevent such fraud from happening. Utilize the information and implement the tips to save your IndusInd Bank credit card from fraud.
How Does Credit Card Fraud Happen?
Credit card fraud occurs when unauthorized individuals access and use your information to buy things. Below are some of the ways through which fraudsters access your information.
- Looking over your shoulder at checkout
- Hacking your computer
- Stealing your credit card
- Skimming the credit card
- Phishing attempts, such as fake emails
- Calling about wire transfers or fake prizes
Even though there are several ways through which fraudsters can access your credit card, you can still implement some strategies to prevent any scams from happening to you. Protecting your IndusInd Bank credit card is your responsibility, and you should try your best to protect it in any way you can.
How to Protect Yourself from Credit Card Fraud?
Most credit cards, including the IndusInd Bank credit card, come with security measures, and you can also opt for credit monitoring services to protect your card. However, below are some of the easiest ways to protect your card and prevent any scam from occurring without spending a penny.
Pick a Credit Card with Zero Liability on Unauthorised Charges
One of the first things you can do is ensure that your credit card does not incur any liability for unauthorized charges. Picking such a card protects you from being held responsible for fraudulent purchases.
Sign Up for Transaction Alerts
Some credit card issuers automatically provide the option of having notifications whenever a transaction is made using your credit card. But if you don’t have these transaction alerts for your card, you can get them immediately. Knowing about any transaction made using your credit card will give you the leverage to act on it and report it to your credit card issuer.
Monitor Your Credit Accounts
Check frequently whether you or any other authorized person made transactions using your IndusInd Bank credit card and online accounts. Contact your credit card issuer immediately if you notice anything suspicious or any unauthorized person using your credit card or accounts.
Secure Your Information
Check your information’s security before making any in-store or online purchases. Ensure that the website has “https” at the start of the URL whenever you make online transactions, and also ascertain that you are not using public wi-fi while accessing your finances. Ensure you are not leaving your card anywhere when making an in-store payment.
Immediate Reporting of Stolen or Lost Card
Another way that you could protect your IndusInd Bank credit card is by reporting your stolen or lost card to the issuer as soon as possible. The sooner you inform the credit card issuer about your misplaced card, the quicker the fraud can be prevented. So, always keep your issuer’s customer service number with you to avoid any delay in information in case of credit card theft or loss.
Conclusion
Credit cards are extremely useful tools, but you must be careful when using them. Ensure you never lose sight of your card and accounts, and never let anyone use it. Also, have the credit card app on your phone to track all the transactions and information related to your card. You can get notified of any suspicious transactions you are unaware of. Report the transaction to your credit card issuer as soon as you notice it, and your bank will take preventive measures to protect your account and finances.