10 Steps You Can Take If You Think Your Credit Card Was Hacked
The most common way a hacker can steal your credit card information is through phishing scams. Phishing scams are emails that appear to be from legitimate sources, such as banks or other financial institutions, asking you to provide sensitive information like your credit card number or security code. The hacker then uses this stolen information to make unauthorized purchases on your account.
Hackers can also gain access to your credit card information if you use unsecured Wi-Fi networks or websites that don’t have adequate security measures in place. By accessing online stores, booking sites, and other services that store personal data, hackers can easily access all of the information they need to take control of your account.
Additionally, many individuals fall victim to ‘skimming’ devices that are placed in ATMs, gas stations, and other public places where payment is accepted by a card reader. These devices can scan the magnetic strip on your credit card and give the hacker access to all of your information without you even knowing it.
Finally, criminals may also obtain sensitive credit card information through data breaches committed by businesses that store large amounts of customer data. When a breach occurs, hackers can gain access to hundreds or thousands of credit card numbers at once in what is known as ‘bulk theft’.
By being aware of the ways in which hackers can obtain your credit card information and taking steps to protect yourself, you can reduce the likelihood that someone will be able to steal your personal data and use it without your permission.
Some simple steps are: only using secure websites when entering payment information; never share your credit card details with anyone; using strong passwords that contain upper and lower case letters, numbers, and symbols; regularly checking your financial statements for any suspicious activity; opting out of automatic storage settings on online stores, booking sites or other services that store your personal data; and, avoiding public WiFi networks. By following these steps, you can help keep your credit card information safe from hackers.
10 Steps You Can Take If You Think Your Credit Card Was Hacked
1. Contact Your Credit Card Issuer Immediately
If you think your credit card has been compromised, contact the issuing bank or financial institution as soon as possible to report the suspected fraud. Your credit card issuer can investigate the activities and determine if fraudulent charges have been made. They will be able to provide assistance in canceling or replacing your card and helping to identify any unauthorized transactions that may have taken place.
2. Request A New Card Number With A New Expiration Date
After reporting any suspected fraudulent activity, you should request a new credit card number and expiration date so that the old one cannot be used for future purchases or withdrawals without authorization. You should also ensure to update any merchants where automatic payments are processed with the new information so that any future charges are made on the new card.
3. Review Your Credit Report
Request a free copy of your credit report to ensure all accounts, payments, and activity reported is accurate and up-to-date. If there have been unauthorized charges, you can dispute the information with the reporting agency for further investigation or removal from your report.
4. Monitor Your Bank Statement Regularly
Once you receive a new card number with a different expiration date, review all statements monthly for any possible fraudulent activities or unauthorized transactions. Contacting your issuer immediately if any suspicious activity is discovered will help minimize potential losses as quickly as possible.
5. Change Passwords Associated With The Account In Question
After canceling or replacing the card and requesting a new one, update all passwords associated with the account. This will help protect any personal information from being accessed by an unauthorized party that may have been involved in the suspected fraud.
6. Notify Your Financial Institution Of Travel Plans
Whenever traveling, it is important to let your credit card issuer know ahead of time so they can flag any suspicious activity outside of your home area if needed. This will help minimize potential losses due to fraudulent purchases or withdrawals occurring when you are away from home for extended periods of time.
7. Sign Up For Email Or Text Alerts From Your Bank Or Card Issuer
Many banks and credit card companies offer alert systems that send out messages whenever certain activities take place on the account. This can be invaluable in helping to identify potential fraud and minimize potential losses quickly by reporting it as soon as possible.
8. Do Not Give Out Personal Information Over The Phone, Email, or Text Messages
Legitimate companies will never ask for your credit card number, PIN, or other sensitive data via these methods of communication. Be sure to double-check with the company if you receive any suspicious requests before providing any confidential information they may request from you.
9. Consider Setting Up A Fraud Alert With Any Of The Three Major Credit Bureaus
A fraud alert is free and lets creditors know that there may have been a fraudulent activity associated with your accounts so they should take extra precautions when verifying any activity associated with your credit report.
10. Use A Secure Payment System For Online Purchases
Make sure to use a reputable and secure payment system such as PayPal or Apple Pay when making online purchases to help minimize the chances of fraudulent charges being made on your card without authorization. This will also help protect personal information from being stolen by malicious parties that may try to scrape data from unsecured transactions.
Conclusion
By following these tips, you can help protect yourself from credit card fraud and minimize any potential losses that may occur. It is important to remain vigilant against unauthorized activities so that you can take the necessary steps to limit any fraudulent charges in a timely manner. Additionally, if any suspicious activity does occur, report it immediately to your issuer for further investigation and assistance. Doing so can help ensure the security of your accounts and financial information.
