NEW! Our Hero’s Journey tool can help you with your next step towards financial freedom - click here to try now.
Advertiser Disclosure

8 ways to prevent credit card fraud

8 ways to prevent credit card fraud
Image source: Getty Images.


Credit card fraud can take many forms. For example, a fraudster can steal or find a lost card and then use it to make purchases. They can also card details online by accessing databases or tricking the card owner into clicking on a scam email link. This is known as ‘phishing’.

Looking for a new credit card?

Great credit card offers are out there — you just need to know where to look! If you’re after some of the top offers on the market, a great place to start is our list of the top credit cards.

Another common type of credit card fraud involves a fraudster applying for a credit card in someone else’s name and making lots of purchases before that person discovers the scam.

We’ve put together eight tips to help you keep your finances safe. 

1. Keep your card info private

Don’t share your PIN, login password or personal information with anybody you don’t know. It’s wise to be especially suspicious of emails and phone calls from people who claim they need these details.

If they say they are calling from your bank or credit card company, hang up and contact your financial institution directly to confirm.

2. Make sure your passwords are secure

Always use a combination of letters and numbers and change passwords regularly. Make sure your financial passwords are unique too. Avoid using the same passwords for a number of different accounts. This will reduce the chances of all accounts being compromised.

And if you access your card or banking through an app, then don’t forget to keep your mobile software up to date for added safety.

Could you be rewarded for your everyday spending?

Rewards credit cards include schemes that reward you simply for using your credit card. When you spend money on a rewards card you could earn loyalty points, in-store vouchers airmiles, and more. MyWalletHero makes it easy for you to find a card that matches your spending habits so you can get the most value from your rewards.

3. Bank from home only

If you need to check your credit card transactions or limits, then wait until you get home and use your home internet connection. Free Wi-Fi in public places is less secure and can be compromised, putting you at risk of credit card fraud.

4. Be careful with your mail

To protect your identity, never throw bank or credit card statements away with the rest of your rubbish. Statements make it easier for fraudsters to access your personal information and potentially steal your identity.

Instead, shred your statements or at least cut off the section including your name and address before disposing of them. If you move house, make sure you redirect the post to your new address.

5. Don’t overshare on social media

The more personal information you share on social media, the easier it is for fraudsters to impersonate you, especially if your profile is open to everybody. For example, information like your address, your birthday and even your middle name can be used for credit card fraud.

6. Keep your eyes open

The best way to detect credit card debt is to check your credit report regularly through Equifax, Experian or TransUnion. If you notice irregularities, like strange late charges or new applications for loans or cards, then report them right away to your bank and to Action Fraud.

7. Check your statements

Always check your credit card statement at the end of the month to make sure no strange transactions are listed. If you notice purchases you don’t remember making or unfamiliar charges, then call your credit card company immediately to dispute them.

8. Use your card carefully online

To prevent credit card fraud, never shop on insecure sites (sites without a ‘lock’ icon in front of the URL). And make sure your browser, antivirus and spyware protection are always up to date to protect you from dangerous activity.

Applying for a credit card? Here’s what you need to know.

Preparation is key when applying for credit, but it’s not just about finding the right card for you. Did you know that there are several things you can do before you apply, to increase your chances of getting accepted for a credit card?

To help you on your path to a successful application, we’ve created this free report, “5 Things To Know Before You Apply For A Credit Card”.

Just enter your email below for instant access to your free copy.

By checking this box and submitting your email address, you agree to MyWalletHero sending you emails with money tips, along with details of products and services that we think might interest you. You can unsubscribe from future emails at any time. You also consent to us processing your personal data in line with our privacy policy, and our cookie statement. For more information, including how we collect, store, and handle personal data, please read our Privacy Statement and Terms & Conditions.


Some offers on MyWalletHero are from our partners — it’s how we make money and keep this site going. But does that impact our ratings? Nope. Our commitment is to you. If a product isn’t any good, our rating will reflect that, or we won’t list it at all. Also, while we aim to feature the best products available, we do not review every product on the market. Learn more here. The statements above are The Motley Fool’s alone and have not been provided or endorsed by bank advertisers. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK has recommended Barclays, Hargreaves Lansdown, HSBC Holdings, Lloyds Banking Group, Mastercard, and Tesco.