Guard your Card – Tips on Using Your Card Safely

Though credit cards are infinitely safer to use than cash and cheques, their spending power makes them a logical target for pickpockets, scam artists, and fraud. There are many safeguards to protect you and your card.

We stand on guard...
With MasterCard’s Zero Liability, for example, you can have peace of mind in knowing you won’t be responsible for unauthorized purchases made in a store, over the phone, or online. If you suspect unauthorized activity on your account, stop using your card and contact your card issuing bank immediately. Read more about our Zero Liability.

Guard your card
Beyond the protections provided by your card issuing bank, there are some common sense steps you can take to defend yourself against card loss, card fraud, and unauthorized charges. Loss and theft usually occur in circumstances that can be avoided. So, learn to guard your card.

• Look after your cards the same way you would look after cash. Don’t leave them lying around. Unfortunate as it may seem, credit cards are most often stolen in the workplace. And places such as cars, restaurants, or hotels are also popular with thieves. Keep your cards in your wallet or your purse, and keep them with you.

• Memorize your Personal Identification Number (PIN). Don’t write it down for someone to find. And never share your PIN with anyone. When selecting your PIN, choose numbers and letters that are harder to identify. Stay away from initials, birthdates or phone numbers.

• Sign your card on the signature panel the moment you receive it. When you’re done with a card, cut it in pieces immediately so others can’t use it, and contact the issuing bank to close your account.

• Record your card account numbers along with the telephone numbers needed to report lost or stolen cards. Put this information in a safe place.

• Be sure that your card is returned to you after you make a purchase.
  

• Never provide personal details that make you uncomfortable. Don’t give out your card numbers over the phone unless you have placed the call or you can verify that you are dealing with a trusted merchant or organization.
  

• Confirm the transaction amount before signing the sales receipt. Ensure that the amounts on the copies of the customer and merchant receipts are the same.
  

• Review your billing statement – make sure it matches your transaction receipts.
  

• Be sure you know who may have access to your cards. You will be responsible for purchases or cash withdrawals if a family member uses your card without your knowledge.
  

• Notify your card issuing bank immediately to report lost or stolen cards, or if you detect suspicious activity on your card.

Familiarize yourself with some common scams:

Prizes and awards that require a deposit are regularly a front for scams.
TIP: Avoid prizes that require up-front credit card payments, or those that are available only by phone or online and can’t be confirmed with a local store or well-known and reputable company.

Prizes and awards that ask you to dial a “900” number to win may set you up for a series of unauthorized payments.
TIP: If you are given a prize and then offered an upgrade for a small charge, do not provide your credit card number unless you are completely certain with whom you’re dealing. Often, such unauthorized charges cannot be traced.

Charitable organizations usually represent a worthwhile cause for individuals needing assistance. Sadly, some are scams.
TIP: Do not provide donations by phone until you have verified that the charity is legitimate. If you would like to make a donation, request written material by mail, ask for a written guarantee, or simply educate yourself about the charity by doing some research.

Phishing is when you receive an email or online solicitation from a party pretending to be a legitimate establishment (such as bank or online merchant) trying to obtain personal and confidential information. Often the solicitation will advise you that your personal account information is required to confirm your identity. You may be instructed to click a link to submit this information.
TIP: No major bank, retailer or credit card company will ever contact you with the request to provide personal information or passwords by phone, in an email or online. If you initiate the call to your financial institution or credit card company directly, it is safe to verify this information.

What is Fraud?

It’s easy to learn more about an organization:

Check their Web site for a feedback page where customers can offer complaints or praise.
Check with the Canadian Council of Better Business Bureaus at www.ccbbb.ca.

Or, simply ask friends about online merchants and other organizations that they’ve dealt with in the past.

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