Protecting Your Credit Card From Fraud?

Protecting Your Credit Card From Fraud?

I recently found out while on a trip to see my granddaughter in Seattle that my VISA card was compromised. I experienced several emotions but mostly anger.

I couldn’t believe that this happened to me. I had my credit card with me but somehow, some where, someone with malicious intentions got my number and expiry date which it seems is all you need to go on a online shopping spree. According to my Visa statement, they started out with small purchases around the 10th of October, and on the 21st of October they started getting much bolder with a large online purchase. That’s when my bank stepped in and stopped it. I received a text message from TD Visa asking me to verify that purchase. At first, I ignored that text message thinking it was spam. We all get them, right. Then the bank starting calling me at which point I knew something was going on and that I had better call.

Long story short, I cancelled my credit card and when I came home I checked my visa statement, and notified Visa of the many purchases that were not mine. My credit card has been replaced and I have already received a credit for those purchases. Now that’s great service. Thank-you TD Visa.

The take-a-way from this experience is this. It’s a good idea to follow good safety habits when it comes to credit cards. We all know the basics like protecting your pin; never giving out your credit card number to anyone; notifying your visa company if you’re travelling; being careful with your receipts; but I wonder if I kept my Credit Card in a RFID blocking card if I would have been better protected. These cards are pretty cheap to buy (Amazon has them), and it may offer some peace of mind and protection.

Now that I have just put all my credit cards in a RFID Protected cover, I feel a little more secure. Hopefully it will protect me from now on. You don’t want to be a victim of fraud. It’s not a good feeling even though you’re not responsible, it costs everyone. According to the fraud dept at my bank, it costs them Billions of Dollars every year. That money could go back to the consumer in less interest charges. Just my thoughts. Wishful thinking right.

Keep safe this holiday season and keep those credit cards close to you especially this time of the year. You never know who is standing beside you with a card reader or whatever they use to get your information. Buy some RFID cards. It might help.