Your credit card information can be stolen under your nose without the original card leaving your possession. Unfortunately, most of these credit card thefts do not occur until their credit card account information has already been used. Often, fake credit card charges are the first sign that credit card information has been stolen. Fortunately, there are some steps you can know to avoid being hacked. In this article, we will tell you what to do if your credit card is hacked.
How Thieves Get your Credit Card Information:
In many cases, thieves do not steal your credit card information directly from you. Instead, they get it elsewhere in the credit card processing chain.
Hacking in other businesses:
Thieves can steal your information by violating a company where you have used your credit card or a company that handles certain aspects of credit card processing. Because data breaches target entire organizations, sometimes millions of users have their credit card information stolen, as was the case with the 2017 Equifax data breach.
Skimming:
A credit card skimmer is a small tool that traps your credit card information in other legitimate transactions. Thieves steal credit card swipes at gas stations and ATMs, steal credit card scammers, and retrieve information obtained.
Related: How Does Credit Card Skimming Work?
Infecting malware or viruses:
Hackers can design software that is downloaded to email attachments or other software and is not detected on your computer, tablet, or smartphone. In one instance, hackers use public Wi-Fi to lure people into installing malware disguised as software updates. The software monitors your strokes or takes screenshots of your page and sends the activity to the thief.
Phishing scams:
Consumers set up traps to lure consumers to give up credit card information. They do this by phone, email, fake websites, and sometimes text messages. In a scam, for example, you can verify some personal information in a call that you think is from the fraud department of your credit card issuer, but it is actually from a scammer. It is important that you only provide your credit card and other personal information in your transactions, to ensure that you are safe.
Dumpster Diving:
Throwing away your full credit card number, printed documents or receipts puts you at risk of theft. Always shred these documents before throwing them in the trash. Unfortunately, you can’t control how businesses lose their records. If they fail to delete the record containing the credit card information, there is a risk of information theft.
What thieves do with your credit card information:
If a thief gains access to your credit card information, they can take advantage of it in a few different ways. All of this can make life difficult for you.
Thieves can use your credit card information to make purchases on the Internet. If they have your billing zip code and security code on the back of your credit card, this is very easy for them to do.
Thieves can also sell your credit card information on the Dark Web. And the more information they have, the more valuable it is. For example, if these thieves have your name, address, date of birth, mother’s first name, and even a three-digit security code from your credit card, it could be sold at a higher price.
Thieves can also create legitimate credit cards by programming your credit card information on a gift card or prepaid credit card. When the card is swiped, the transaction is processed as if you swiped your original credit card.
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How to check if your credit card information has been hacked:
Such credit card thefts can’t be traced for months. It’s not like a physical credit card that you feel is missing. You will not know until you see the unauthorized charges on your credit card account.
Don’t rely on your bank to catch instances of credit card theft. Your credit card issuer may call you or freeze your account if you feel shopping outside of your usual spending habits, but don’t assume that your bank will always catch it.
Monitor your credit card frequently and report fraudulent purchases immediately regardless of the amount. It is not enough to read your transaction once a month when it comes to your credit card statement. Once a week is better, and a thief can do a lot of damage to your account daily or every other day before you make a fake purchase. Some credit cards can send real-time transaction notifications to your smartphone.
Also, note reports of hacks and data breaches. The news often includes the name of the affected store and the date or date range in between. If you purchased during this period, your credit card information may have been stolen.
What to do if your credit card information is hacked:
It’s easy to know when your original credit card was stolen because your credit card is gone. It is not easy to know when your credit card information has been stolen. Most of the time, you only get hints that your credit card information is being stolen, like an unauthorized purchase on your credit card.
If you think you have been the victim of any form of identity theft, including stealing your credit card information, you can go to IdentityTheft.gov the website, created by the Federal Trade Commission, requires you to take steps to report and maintain it.
Review your recent credit card transactions. Make a note of the fake allegations you found. Even if you do not find any fraudulent charges, call your credit card issuer and let them know that you think your credit card information has been stolen. Tell your card issuer about any transactions in your account that you have not authorized.
You should notify your credit card issuer of the transaction so they can investigate and remove it from your account.
The credit card issuer will cancel your old credit card account, remove fraudulent transactions from your account, and send you a new credit card and a new credit card number.
Continue to monitor transactions on your new credit card. Also, share any documents with your credit card information. As soon as you start using your credit card.
Protect your credit card information:
If you use your credit card anywhere, your information is at risk. However, there are many things you can do to keep your credit card information safe. This includes using strong passwords, being careful where you use your credit card, always using secure websites, and avoiding storing your credit card details in your web browser.
You can also download an app such as CreditWise by Capital One and they will notify you if they find any of your personal information on the dark web. You don’t need a Capital One credit card to sign up and you can also monitor your credit score.
Related: 5 Best Credit Score Apps
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