Person using computer

 

The ease and convenience of credit cards make it simple to make purchases. As an added bonus, they can help you build your credit score – a necessity for securing mortgages or large loans.

As convenient and useful as they are, credit cards can also leave you vulnerable to fraud. This can occur when someone steals your physical card or card information such as your account number and PIN, which can happen in many ways. But you can protect yourself.

Protecting against card vulnerability

A would-be credit card fraudster doesn’t necessarily have to pick your pocket or rifle through your wallet or purse to get their hands on your valuable credit. They can steal your information by finding printed statements in the trash or recycling bin, through phishing scams that try to retrieve your card data over the phone or by email, or by more sophisticated methods such as the use of devices that swipe, scan, and record your card information for their nefarious uses.

They can also hack into the servers and computers of companies. Data breaches have become an all too common problem in today’s world and are a major concern for businesses and consumers alike.

There are ways you can protect yourself and your card from would-be thieves. Always treat your credit card and credit card information like you would cash, a passport, or any other highly valued possession. Some basic tips to keep in mind for protecting your card include:

  • Limit the number of cards you carry
  • Always keep your card in a safe place
  • Use a PIN that is not easy to guess, commit it to memory, and always keep it secret
  • Cover the keypad when using it in a store or at a pay station to avoid the gaze of prying eyes

You should always shred or destroy all printed credit card statements or better yet, go completely paperless and opt for digital statements. And if you’re using your card online, make sure it is with a reputable organization and through a secure transaction site (an easy clue is to look for an “https” in the web address – the “s” indicates that the site is secure).

If you do experience problems with your card or suspect fraudulent activity, report it at once. Follow the tips in our Help Centre on how to do just that. For more tips on protecting yourself and your card from fraud or misuse, read Preventing Debit and Credit Card Fraud in our Advice Hub

Stay in control of your card

If you hold a Collabria Mastercard® through BlueShore Financial, you can keep better track of your account and have greater protection over your card with a new feature. SmartControls is a complimentary and easy-to-use solution that lets you monitor, control, and protect your credit card activity.

You can set up this feature through MyCardInfo (MCI). Use it to select and enable transactional alerts and controls, such as e-commerce and international transactions, and get a more robust view on what’s going on with your card.

Credit card fraud can be costly and very stressful to you. No matter how you use your credit card, protecting yourself from the threat of fraud and staying on top of card activity are wise measures for making sure you don’t run into major problems that put your credit and your financial well-being at risk.

®The BlueShore Collabria Mastercard is issued by Collabria Financial Services Inc. pursuant to a license from Mastercard International Incorporated. Mastercard and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated.