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Should You Sign the Back of Your Credit Card?
Should You Sign the Back of Your Credit Card?Many savvy credit card users have adopted a new stance in recent years. In an effort to reduce the chance they will become a victim of credit card fraud, they refuse to sign their credit card . Some will leave the signature line blank altogether, while others will write "see ID" on the signature line.The theory here is that criminals with an eye toward your credit card will be less able to either use your card (without a signature and a matching ID) or won’t be able to falsify your signature if not given an example on the back of the card. This can be a tough decision for many of us when we get a new credit card – do we sign it or not? Here’s the thinking on not signing your credit card. If you sign the card, it would be very easy for someone to get a hold of your credit card and use it for a variety of reasons. True, if they purchase things online or by phone, your signature is not necessary but if they purchase something in a store, they can easily forge your signature on the receipt with your sample as reference. In addition, if you sign the credit card, there is always the minor possibility that criminals could use your signature (and any other information they are able to glean about you) to acquire more credit. If you don’t sign your credit card, you can write “see ID” on the back, which has become a popular option for some credit card users. In this case, then, the store clerk will ask to see your ID (likely a driver’s license) and they can compare your driver’s license signature with the signature you provide on the charge receipt. You can also choose to leave the signature line blank, which might also prompt store clerks to ask for your ID. So, what’s best? Among credit users, there doesn’t seem to be a solid consensus about how to handle the “do you or don’t you?” question about credit cards. Many argue they would never sign a credit card, and will always ask the store clerk to ask for their ID. But here’s a consideration – many store clerks don’t ask to see ID. Many don’t turn the card over. Sure, they are supposed to, but many don’t. Are you protected then? The credit card companies advise consumers to always sign their credit card. In fact, they say that store clerks are not authorized to accept credit cards that are not signed and if they aren’t signed, they are supposed to require you, the consumer, to sign the card in their presence before they finish the transaction. They also have the authority to deny you the purchase if you provide an unsigned credit card. But honestly, how often do store clerks check your signature? If clerks don’t check the back of your credit card as a rule, then you are not protected, whether you sign it or not. Perhaps the best rule to follow, then, is the rule of careful. That is, sign your card just to be safe and to follow the credit card company’s recommendations, and then don’t lose your credit card or wallet. Certainly if you lose your wallet, you’ll be concerned about the effect that will have on you and your credit, and whether or not you signed your credit cards won’t be the major issue. Creditors also say consider getting a card with your picture on it. These credit cards give you additional protection since it’s unlikely you and your credit card criminal will look alike. |
Using credit cards securely online
Using credit cards securely onlineNow adays, shopping online is a very common thing. Making your purchases without leaving your house is an attractive option for many of us. Purchasing items over the internet using your credit card can be quite an unpleasant experience if you don't make sure your payments are safe. Although many people consider that using a credit card for online transactions is not safe, they continue using this method but with increased caution measures. The greatest risk we expose ourselves to when shopping online is identity theft. But this is not the only risk, and various studies reveal that people have also other concerns like: personal information will be sold to third parties, unauthorized recurring transactions, not receiving the ordered products or even higher prices than advertised prices.Many people think that shopping online is risky, but the risk is not greater than others. Taking few precaution measures is the best thing to do unless you want to quite shopping online. First of all, we should not shop from unknown websites. Always look for the companies you know or ask someone to recommend you a site or a company that he/she uses. Still, if you're not sure of the vendor's identity try to find his address and phone number and check them. Also check the refund and return policies of the company in case they don't ship you the right products or you're not satisfied with their quality. Another thing to be careful about is the browser that you're using, it has to be a secured browser. A secured browser should include Secure Sockets Layer that scramble the information you are sending over the internet, making the transaction more secure. You can easily recognize a secured web site, because when you're filling in online orders or applications a closed padlock sign should appear at the bottom of the screen. Another way to make sure that the web site is secure is to check the URL; if it begins with "https" it means the transaction is secure because the "s" stands for secure. Another important thing to be careful about is your privacy. The information you're submitting when you use your credit card online should be kept private by the company that receives it, meaning it should not be passed on or sold to third parties unless you agree. Most web sites ask for your permission to use personal details for direct marketing, and if you feel uncomfortable giving them permission you must know you have the right to object. Anyway, before submitting any personal details you should check the privacy policy of an website; if there are things not clear to you give them a call and see if your understanding is correct or not. Do not submit any information, unless you're absolutely sure that your credit card details are safe. Being able to safely use credit card for online purchases is not only the buyer's responsibility. The vendor has also his part of responsibility in ensuring safe purchases for his clients. Vendors also suffer from credit card frauds. They have to take some security measures in order for them and their customers to be protected against online credit card frauds. Security and privacy are two important aspects a vendor should take into consideration. He must ensure the client that the personal information submitted are kept private and at the same time he must check the details received to make sure that he's dealing with the real cardholder. It is a well known fact that online credit card transactions are risky, because your personal information are exposed and can be stolen by others with the intention of using them to commit frauds. Yet, if the buyers are careful to whom they relies these information and the vendors are cautious from whom they receive credit card information, the risks of online credit card frauds decreases significantly. When disclosing personal information, common sense should exist. |
Protecting Your Credit Card Information Online
Protecting Your Credit Card Information Online.--------------------------------------------------------------------------------------------------One of the biggest trends of today's world is shopping online. It is convenient, easy, and saves a great deal of time, not to mention that it, in many cases, saves you a great deal of money at the same time. However, while shopping online is the latest and greatest trend for consumers, hackers and other dishonest people have also turned to online shopping as a way to obtain credit card information for fraudulent use.You take a risk every time you use your computer and the internet to do your shopping, however, if you know what to do and what to look for, you can take steps to ensure that you do everything possible to protect your credit card information. Safe and Secure – That's the Ticket Before you start shopping on ANY website and provide your credit card information, you want to be sure that the website you are shopping with has taken measures to secure your order and payment. There are two specific things you want to look for:
The encryption sign can be found on the bottom of the webpage you are viewing. This typically looks like a padlock. An "open" padlock indicates that the website is not secure. It will not encrypt your credit information when you provide it. A "closed" padlock indicates that the site is using security and encrypts the information you provide. Typically, this is shown on the website page that is asking for this information. A secure website address is a good way to tell that the information you provide is secure as well. When asked to provide your credit card information look at the website address. https:// indicates a secure website; http:// indicates that the website is not secure. Check Your Credit Card It is advisable to make sure you understand the terms and conditions of your card, as well as benefits. Use only cards that protect you and your liability if something were to occur. Some credit cardprotect you entirely against credit card fraud while others will have a liability limit. It is a good idea that you keep track of your credit card statements and your purchases. If you notice things out of place, it is important to contact your credit card company immediately to take action and remedy the situation. Know Where Your Information Is Going ... It is important to read the terms and conditions of use for the website you are shopping from, as well as the privacy policy. The information contained in both of these documents should inform you as to how, when, and where your information is stored, if it is at all. The most important thing in protecting your credit card information is that you trust the website you are conducting online shopping with. Some things to ask yourself include:
The security for many online shopping sites has been beefed up. At one time, it was only necessary to provide your credit card number, expiration date, name, and address. Well, it turned out that hackers and scammers had the ability to obtain this information in multiple ways. Now, more and more sites are requiring that you provide the CVC2 code, which is a series of three digits located on the back of the credit card. Make sure the site you do your online shopping with is secure, safe, and requires the information you deem pertinent to ensure fraudulent activity does not occur on their site. |
Credit Card Skimmers
| Credit Card Skimmers. ------------------------------------------------------------------------------------------------ Would you notice if a clerk swiped your card through a two card readers in one swift movement? Would you be able to tell if the gas pump where you swipe your card had a “bug” built in to the existing pump's reader, saving your data both to the pump to make your gasoline purchase and to the “bug” itself for later retrieval by the thief? This type of credit card theft comes from the use of credit card skimmers – small units that work by swiping the credit card's magnetic strip through them; just as you would if you were making a purchase. Smart thieves have learned how to attach these units to existing credit card readers so it is almost impossible to detect when one is being used. When a card is swiped through the reader, the card number, account holder name and address and sometimes even the pin number are stored so the thief can access it later. From the stored information (on however many credit cards the thief was able to “skim” through the machine), counter fit, “cloned” credit cards are created and then used to make purchases. Unbelievably, it is not difficult to get a credit card skimming machine. They can be searched for and purchased online, making it possible for any aspiring thief to gain access to a skimming machine for around $300. Thieves can then choose to sell the card information to “companies” who make counter fit credit cards; or perhaps they'll purchase the equipment necessary to create their own fake credit cards, for around $10,000. Credit card losses due to credit card skimming theft is estimated at $1 billion each year. If you've been the victim of credit card fraud, you should know that the Truth in Lending Act limits your liability to $50 is the card has been stolen or lost. Most card issuers waive that $50 fee, as well. But don't think all cardholders aren't paying for these crimes- because we are; in the form of higher interest rate , finance fees and miscellaneous fees. Consumers who are victims of identity theft/credit card fraud also pay in the time it takes to fix their credit report It can take months of phone calls and letters to credit reporting agencies to get errors removed and corrected from your credit report; and it's possible that not all errors will ever be fully corrected which can impact your future ability to obtain credit; or affect the interest rates you pay on the money you are able to borrow. The importance of checking your credit card statement every single month can't be stressed enough. The sooner you are able to recognize fraudulent activity, the better off you will be in putting a stop to it. Many people set their accounts up to pay automatically with checking account withdrawals and such; but even if you do this, you need to be looking over each transaction on your credit card statement regularly to ensure that only charges you've authorized are appearing on your statement. |
5 Tips to Prevent Business Credit Card Fraud
5 Tips to Prevent Business Credit Card Fraud..---------------------------------------------------------------------------------------------------1. Safeguard Your Card One of the most important things to remember is to keep your card safe. You do not ever want to lend your card out to anyone in your business whom you cannot trust completely. In most cases, you will want to keep the card in your sight at all times. Most of the time, credit card fraud takes place when someone the cardholder knows takes advantage of the card. Therefore, you should be very cautious about letting anyone have your card for any reason. 2. Protect Your StatementYou should also make every effort to protect your credit card statement. Typically, your credit card statement is going to have you a credit card account number on it somewhere. This means that you do not want to leave your statement around where anyone can find it. If you plan on keeping your statements, you should keep them in a filing cabinet that you can lock. If you do not plan on keeping them, you should run them through a shredder or destroy them in some other way. 3. Do Not Save PasswordsIf you regularly access your credit card account online, you should not save your password to log in. Many people automatically save all their passwords on their computers so that they will not have to type them in every time. Although this might be easier, it can also cause serious problems for you in the future. Anyone that gets on your computer could then have access to your credit card account. They could take a number and use it to purchase items online. 4. Report Missing CardsIf you ever find yourself in a situation where you cannot find your card, you should immediately notify the credit card company. Many people put this off because they think that they have simply misplaced the card and will find it later. However, the card could be stolen, and someone could be using it to make multiple purchases. If you cannot find your credit card, you need to notify the card company immediately. They will shut it off. This way, you will not be liable for any of the charges a thief makes on your credit card account. 5. Shopping OnlineMany businesses now choose to purchase their supplies and equipment online. While this is extremely convenient, it can also add an element of risk. There are many fraudulent websites out there that are designed to take advantage of unsuspecting customers. Make sure that you shop only with well-known merchants and those that offer leading Web security technology. How Safe Is it to Apply for Credit Cards Online? ------------------------------------------------------------------------------------------------- There's a lot of talk about the safety (or lack of safety) when purchasing items with your credit card online – but what about the application process used to get the card in the first place? How safe is it to provide your personal details through an online credit card application? Secure e-commerce technology is actually considered safer than mailing your paper application through the United States Postal Service! Think about it for a minute: when you place something into the mail, you probably drop it in your mailbox and carry on with your day. Maybe you drop it in a big blue mailbox on the corner of the busy intersection you walk by on your way to work each morning. How difficult would it be for someone to stick their hand in and pull the envelope out of a home mailbox? Not difficult at all. It would be a little harder to take mail from the public mailboxes, but it's still possible by an enterprising criminal! If your mail makes it into the post office, it is then handled by a number of postal workers. True, there are cameras and laws regarding how the mail is handled – but we know that there are dishonest people in the world and it's possible that one may be working in your local post office. Slipping a piece of mail into their pocket would not be completely out of the question – and it just might be your credit card application, containing all of your personal data. The security used for online credit card applications include: Secure Sockets Layer (SSL) Technology: This encrypts the information sent between your computer and the bank's computer via the Internet. So the personal information you type into an online credit card application form is sent in a jumbled mess that the bank computer knows how to UN jumble and put back together for human readers to understand. If someone tried to intercept the transmission of your credit card application, they would receive the encrypted, jumbled version. What Is Encryption? For math-lovers out there, encryption is actually a mathematical process that camouflages the information to 128-bits. Remember when you were a kid, and you would create secret languages with your friends so no one else could read your notes? You maybe reversed the alphabet, so A would actually be Z and Z would become A.... or you shifted everything over three letters and then wrote your note using your new alphabet. This is elementary level encryption. When a computer encrypts your personal data, it takes each character you enter and transforms it into another character, in any one of 2 to the 128Th power ways. The code would take 20,000 years to break using today's' computers. Two Key Algorithms: Additionally, the encryption method uses a two-key algorithm. This means there is a public and private key that have to be used to “unlock” the encrypted data. These keys are required by the computer sending the information (the computer you use to fill out and submit your online credit card application), and the computer receiving the information (the bank's computer) in order to unscramble and read the 128-bit encrypted personal data of your credit card application. A criminal intercepting an encrypted message not only has the impossible mathematical encryption to deal with; but he or she would also then need to have the public and private keys to “unlock” it. |