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• Prevent Credit Card Fraud as You Shop for the Holidays

Prevent Credit Card Fraud as You Shop for the Holidays

People are doing their holiday shopping now as Christmas comes nearer—with many using their credit cards to buy gifts. Whether you’re using your credit card to shop online or offline, you can take steps to make sure you’re protected from the many credit card fraud out there.

December is the strongest month for credit card use in the Philippines according to the Tribune that cited data from the Credit Card Association of the Philippines. Alex Ilagan, Credit Card Association of the Philippines’ executive director and spokesman, reminded shoppers to put away their cards after each use and to not linger at the cashier with their credit card exposed. Ilagan says they’ve received reports of people standing in line in order to memorize credit card numbers.

Credit Card Safety Tips for the Pinoy Holiday Shopper

But what else can credit card holders do to make sure they’re safe as they shop for gifts this holiday season?

• Shred any receipts that have your credit card number – You don’t want anyone knowing your credit card number, some sneaky people could also go through your trash to look for important financial information and your credit card number could be one of them.
• Keep an eye on your card – make sure the cashier is not taking your card away from your sight.
• Watch out for double swiping – the CCAP has called on establishments to refrain from double swiping customer’s credit cards. This is the practice where the card is swiped again even if the transaction has already been accepted by the card issuer. Your credit card’s data could be retained on the merchant’s own system on the second swipe and that leaves it vulnerable.
• Sign your credit card – merchants have to check your signature on the receipt and the one on your card. This adds a layer of protection for you. You don’t want to lose your credit card to a thief when shopping only for the thief to sign your card and make purchases on it.
• Never write down your PIN or login details – just memorize your pin and the same is true for all of your passwords on your online accounts
• Watch out for phishing activities – fraudsters may send you an email telling you that your last online order failed and that you need to resend your credit card details. Did you really make a purchase with that online retailer? If not then it’s probably a scam. If you did make a purchase with that site, check twice to make sure that the email is definitely coming from the online retailer. It wouldn’t hurt if you call the retailer on the number available on the site either.
• Shop only from reputable sites – if you’re shopping online for gifts, make sure that the site you’re shopping on is legitimate and has all the right online security setup. 

These credit card safety tips are valuable all-year-round but cardholders should take extra care this holiday season to make sure they avoid the headaches of having to deal with credit card fraud during the holidays.

Moneymax

With a goal to help Filipinos lead healthier financial lives, Moneymax regularly publishes tips and tricks on personal finance and lifestyle, among many other topics. For more finance-related news and articles, follow Moneymax on Linkedin.