How do credit card scams work ?

POSTED BY tusharvyas ON October 11, 2013 10:35 am COMMENTS (3)

First thing – how does it work ? & secondly is there anything to safe your self from such scams ?

Was just reading a few threads here & saw many people complaining about credit card fraud, i just applied for one & now am in a panic . but i don’t want to be scared about this & want to learn , what measures i can take to safe guard myself from such frauds

first thing i will be getting a chip card , are they better then the normal one\’s ? & secondly i ll be using the cc for payment like Google play store, Istore, & amazon

3 replies on this article “How do credit card scams work ?”

  1. ashalanshu says:

    Dear Tushar, I do not save my PINs, Passwords, User IDs etc. anywhere. neither in Phone, nor in any paper. Should i say more? The incident you are referring to may happen due to hacking in bank’s own record also.

    Thanks

    Ashal

  2. tusharvyas says:

    But i recently read in a post were the person claimed that he hadn’t used his credit card for over a year & yet somehow some1 had used his credit card to make some purchase online ….

    one more thing which i think we all must think of is our own phone , the pocket app which many of us use these days to store our private details like debit card no & our passwords & could these apps take advantage of such sensitive data ?

  3. ashalanshu says:

    Dear Tushar, the CC scams can happen in multiple ways. Cloning your Card by taking data from your Magnetic strip while switping on a compromosed Swipe machine. Hacking your data from onoine portals. Demanding your CC and other details through Phishing.

    Yes, Chip based cards are more secure than normal magnetic strip cards.

    To be on safer side, please use your card for online payment only on some trusted portals.

    Thanks

    Ashal

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