The credit card industry seems to be growing at an unprecedented rate. According to some statistical reports, the average American household has at least one credit card. In fact, from the total respondents in the survey, 81% of the households have at least one credit card.
This goes to show that more and more people are enticed to get their credit cards. The reasons for doing so are based on the fact that credit cards offer extreme cashless shopping convenience. Hence, everybody seems motivated to get at least one credit card. However, the travails of the credit card industry do not end here. This is because the reality that evolves on the credit cards does not just depend on the way people use credit cards but on how they use them and protect themselves.
What people do not realize is that the manner in how they use their credit cards can greatly affect the way they live. For instance, frauds and fraudulent activities are very prevalent in the industry, and the best targets of the culprits are those who use credit cards whenever they are shopping.
People should take note that one of the most prevalent credit card scams in society today is identity theft. Identity theft is when some unscrupulous people try to get some information from you such, as your social security number and other pertinent personal and financial data.
These sets of information are used deceitfully by these people for their benefit. Hence, the poor victim does not realize that his identity was stolen and that his financial future is doomed.
For this reason, it is important to know how to avoid getting into trouble. Here is how:
- Protect your data and any financial information
Never entertain phone calls that require you to give any personal data or information, even if the caller says he is from the bank that issued your credit card and that the information gathering is just some sort of verification.
If this is the case, try to inform him that you wish to do the transactions personally. Hence, it is important to verify if the caller is, indeed, a representative of the bank.
- Avoid freebies and offers that involve credit cards.
If you are offered some promotions requiring you to give some personal information, then, it would be better not to entertain the promo at all.
Things like these will only entice you to try it. In the end, it is too late to realize that you have just been a victim of identity theft.
- Have a regular check up on your credit standing and bills
Most credit cardholders are so lazy to do regular checkups on their status. If you do this, it will be easier for you to detect any probable identity theft case on your part. Credit reports can tell you if there were purchases that you know that you did not make.
