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5 Ways To Save Yourself From Credit Card Hacking

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Created on
January 7, 2023

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What’s Inside

Of late, instances of credit card hacking are on the rise. This can be attributed to the growing popularity of credit cards. If you own a credit card or are planning on getting one in the near future, it is crucial to ensure that you don’t become a victim of this illegal practice. 

But can you effectively prevent credit card hacks? The answer to this question is a resounding yes. Fortunately, there are many ways through which you can save yourself and your card from getting hacked. In this article, we’re going to look at a few ways you can implement anti-hacking methods.  

5 Ways to Save Yourself From Credit Card Hacking

You can effectively protect yourself from credit card hacking by following a few simple ways. Let’s take a brief look at what they are. 

1. Store Your Credit Card Safely 

Although this might sound obvious, many credit card owners usually don’t focus on storing their credit cards safely. Because cards these days are NFC-enabled, leaving your credit card unattended can lead to it being misused. 

For instance, you could become a victim of card skimming, where fraudsters swipe your credit card on a device designed to capture all the card details. Once the confidential details of your card have been captured, they could be used to conduct unauthorised transactions or gain access to your credit card account.  

To protect yourself from such credit card hacking, always ensure that you always have your credit card on your person. If you habitually place the card in your wallet, consider getting an RFID-blocking wallet. This will prevent people from discreetly scanning your card using an RFID machine. 

2. Set Up a Strong Password

Credit card accounts are often protected by passwords. And many individuals don’t put much thought into setting up a strong password. Not having a strong enough password can lead to fraudsters gaining control over your account. 

Always ensure that you set a password that’s a combination of uppercase and lowercase letters, numbers and symbols. This can make it extremely difficult for unscrupulous individuals trying to access your credit card account. 

Also, refrain from setting a password based on easily available personal information such as your date of birth, phone number, or name. Instead, focus on setting a completely unrelated password or passphrase and change it every 2-3 weeks. 

3. Refrain From Using Public Computers 

Public computers can be very unsafe. This is simply because they can be loaded with malicious software like keyloggers, spyware, and malware designed to record every single activity done on it. Therefore, using a public computer to log into your credit card account or make purchases online is never a good idea. 

If you have to use a public computer to access your account, make sure to change your password as soon as possible. Also, do not store any credit card-related information on the computer. This way, you can effectively protect yourself from credit card hacks. 

4. Shop Only on Secure Websites 

When it comes to using your credit card online, it is always a good idea to shop or pay only through secure websites. If you’re unsure whether a website is secure, all you need to do is check its URL. Encrypted and secure websites usually have a URL that starts with ‘https://.’ 

Another trick that you can use to ensure the security and veracity of a website is by looking for the symbol of a lock in the address bar of the browser. Websites with this symbol are encrypted, which prevents fraudsters from gaining access to confidential information. If you find that a website’s URL starts with http instead of https, or if you can’t find the symbol of a lock on the address bar, refrain from using your credit card. 

5. Temporarily Lock Your Credit Card 

If you rarely use your credit card, this is the perfect way to ensure that you don’t end up with a hacked credit card with balance. Many credit card providers allow you to enable and disable your credit card at will by logging into your credit card account. 

You can use this feature to lock certain transactions like online transactions, contactless payments, card swipes, or ATM withdrawals or place an overall lock on your credit card. When your credit card is locked, the locked transactions will not go through, keeping your card safe from fraudsters. 

And when you wish to use the card once again, all that you need to do is remove the lock by logging into your credit card account. This card lock and unlock feature takes effect immediately so you don’t have to worry about having to wait around for hours or days before being able to use your card. 

Bonus

A great way to protect yourself from potential fraudulent activities is to understand your credit card better. Watch this short video to learn more about your credit card: https://www.youtube.com/shorts/W1pvtB1hbBw

Conclusion

Following these five ways diligently can protect you from becoming a victim of credit card hacking.

If, by any chance, you still end up being defrauded, remember to report it immediately to your credit card issuer, who will freeze your card account. 

Meanwhile, check if your credit card has a card protection plan in place, which provides you with insurance coverage against credit card fraud and misuse. And finally, make sure to keep a close watch on your credit card account and statement for any unauthorised or suspicious transactions. 

Frequently Asked Questions

1. How do credit card accounts get hacked?

Fraudsters employ card skimming, phishing, spyware, malware, and keylogger software to gain confidential credit card information. Using this information, the fraudsters gain unauthorised access to credit card accounts. 

2. How can someone use your credit card without the card?

You don’t always need to have your card with you to use it. If someone gets a hold of your credit card information, they could use it to initiate transactions online. Alternatively, by using a credit card skimming technique, fraudsters can steal your credit card information and use it to create a duplicate card. This duplicate card is then used by them to make purchases and payments.  

3. Can credit card machines be hacked?

Yes. Although there are many safety checks, payment terminals and credit card machines are still very vulnerable to hacking. However, there are quite a few ways to prevent such practices. This includes updating the credit card machine to the most recent software and setting up a password or a PIN to prevent unauthorised access to the machine.

Disclaimer

Fi Money is not a bank; it offers banking services through licensed partners and investment services through epiFi Wealth Pvt. Ltd. and its partners. This post is for information only and is not professional financial advice.
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