With the holiday season just around the corner, people will be using credit cards much more often.
This is the ideal opportunity for fraudsters to collect credit card information. Credit card skimming, which is the act of stealing the information off a credit card using the black magnetic strip is one way a fraudster can access all of your card information.
The most common place that people will use them is in restaurants. The waiter, or waitress will have a small card reader, and swipe it into the reader while they ring up the bill.
Greg Sterner, of Ameriprise Financial says that the best way to avoid any sort of fraudulent charges on a card is to regularly check credit card statements.
Banks will usually give a consumer sixty days to report fraudulent activity on a card, and not charge the card holder for the fraudulent transactions.
Sterner also discussed that online shoppers should avoid the “free gift card” offers via email, and to carefully check the email address.
Banks will never ask for a full card number, nor a full social security number. These should be red flags to any consumer.
The best advice for online shoppers is to stick to the large retailers, such as Target or Macy’s.
With the potential of someone to steal card information, it is important to be checking bank statement s for any fraudulent charges and to be smart when shopping online this holiday season.