Credit cards have become a popular payment method due to their convenience, allowing users to make purchases quickly and easily without the need for physical cash. However, this convenience comes with responsibilities, particularly when it comes to security.
Physical security threats to credit card users include theft, where a criminal physically steals your card and uses it for fraudulent purchases. Another significant threat is skimming, which occurs when devices are secretly attached to ATMs or point-of-sale systems to capture credit card information during swiping. The stolen data is then used for unauthorized transactions. Additionally, be aware of individuals engaging in shoulder surfing, especially in crowded places. This tactic involves criminals watching as you enter your PIN at an ATM or during a transaction, allowing them to use that information to steal funds or make purchases after obtaining your credit card. In some cases, thieves may distract you during a transaction and swap your credit card with a similar-looking one, leaving you unaware until it's too late.
Understanding these threats and taking proactive measures can significantly enhance the security of your finances. In this article, we’ll explore several strategies you can implement to protect your cards from physical security threats effectively. We’ll also fill you in on how to ensure safe transactions, especially in public places.
1. Keep Your Credit Card in a Safe Place
One of the simplest yet effective ways to protect your credit card from theft is to store it in a secure location. Make sure not to leave your credit cards in easily accessible spots, like the inside of your unattended car. Also, be mindful of where your credit card is at all times. If you keep it inside your wallet or bag, closely monitor your belongings. When traveling, consider using a money belt or hidden pouch to keep your cards safe from pickpockets.
For credit cards that you don't use frequently, keep them in a safe location at home. This can be a locked drawer or safe. Ensure the safe is secure and hidden, especially when you're away for long periods.
2. Use RFID-Blocking Wallets
Another method to protect your credit card from physical security threats is to use a wallet that blocks radio-frequency identification (RFID). While RFID is a technology that allows for contactless payments, it can also be exploited by thieves to scan your credit card information using an RFID reader. With an RFID-blocking wallet, you can have an extra layer of protection against this type of threat. These wallets are designed to block signals from RFID readers, which makes it harder for unauthorized parties to access your card data without your knowledge.
3. Use Contactless Credit Card Payment Methods
Many credit cards now offer contactless payment options, where you tap your credit card to the terminal to complete the transaction. Generally, these tap-to-pay methods are safer because they don’t require your card to physically pass through a reader, which reduces the risk of skimming. Having said that, opt for credit cards with a contactless payment option. You can also inquire with your credit card issuer if they offer the technology in their newly issued credit cards, and if it’s possible to get a new credit card with such a feature.
4. Ensure the Payment Terminal or ATM is Secure
Before using an ATM or point-of-sale machine, take a moment to inspect the card reader for any unusual attachments or devices that seem out of place. Keep in mind that skimmers are often installed over legitimate card readers and may look bulky or misaligned. If something looks suspicious, avoid using that machine.
5. Be Mindful of Your Surroundings When Using Your Credit Card
When making a transaction in public, stay alert and be mindful of anyone standing too close or watching your actions. If someone seems suspicious, wait until they leave, or you should try to find a more secure place to complete the transaction. It’s also a good idea to use your hand to shield the keypad when entering your PIN or any personal information at an ATM or payment terminal. This prevents anyone nearby from seeing your PIN.
Additionally, position yourself close enough to the credit card terminal to see how your card is being processed or inserted when making a transaction at a merchant. This allows you to observe if the cashier is using the card reader correctly or if they’re doing anything suspicious. Moreover, ask to insert your card into the terminal yourself whenever possible. Being present during the transaction reduces the risk of unauthorized duplication attempts and credit card swapping.
6. Enable Transaction Alerts
Most banks offer transaction alerts via SMS or email almost immediately after you make purchases using your credit card. If your credit card issuer offers these alerts, enable them so you can quickly spot any unauthorized transactions and respond promptly.
Additionally, consider getting a credit card that lets you set up a daily limit as added security. With the Maya Landers Cashback Everywhere Credit Card, you can do this through the Maya app. You can control your daily spending limit and customize it for different transactions, including online payments, contactless payments, bank transfers, and cash advances.
7. Know What to Do if Your Card is Lost or Stolen
It’s also crucial to be aware of the best course of action in case your credit card is lost or stolen. This involves reporting the incident to your issuing bank immediately and canceling the credit card. The sooner you act, the better you can prevent fraudulent charges. As one of the most secure credit cards in the Philippines, the Landers Cashback Everywhere Credit Card offers 24/7 in-app chat support and phone support to assist you in case your credit card is stolen or lost. You may contact these telephone numbers:
- +632 8845 7788
- 1800 1084 57788 toll-free
You can also replace your lost or stolen credit card through the Maya app and proceed with these steps:
- Go to "Cards" and select your credit card.
- Tap the gear icon to open your card settings.
- Select "Card Security" then "Replace This Card".
- Select a reason.
- Once your card is canceled, you can tap "Order a New Card" to get a replacement.
Take note that credit card replacement fees may apply.
8. Properly Dispose of Financial Documents with Sensitive Information
Finally, be diligent about disposing of any documents that contain your personal information, such as credit card statements or receipts as well as expired credit cards. This prevents thieves from obtaining your credit card details or personal information from discarded items. With this in mind, consider investing in a good-quality shredder to ensure your documents are difficult to decipher in case someone goes through your trash and tries to get your credit card information.
Proactively protecting your credit card from physical security threats is crucial to maintaining your security. Consider implementing these strategies to reduce the risk of theft and unauthorized transactions. Take action today to safeguard your credit card and enjoy peace of mind.
