Gone are the days when credit was considered a bad thing. Credit cards have become a part of modern life. In this regard, a secret credit card demands a deserving mention. The word ‘secret’ often carries some negative notes, but in this case, it is the opposite.
Everyone likes to maintain secrecy about his/her financial condition. You may not want friends, foes, relatives, or employers to discover that you have obtained credit. You may want to own a property, run a business, buy a luxury car, or even purchase a precious gift for your near and dear one. Whatever the purpose of getting credit, you need to proceed slowly and prudently.
Keep an eye out for credit card fraud and be ready to take action to lessen the damage if you uncover any. A stolen credit card or account information might also be one of the early indications of identity theft.
How your Credit Card Number can be Stolen
In an increasingly digital-first world, you may no longer have to concern yourself with thieves flipping through your wallet as they rifle off the three-digit number of your credit card to uncover your credit card number. However, that does not exclude them from obtaining the number however you wish. Here are a few ways those thieves might steal your credit card number:
1. Email phishing
Phishing e-mails often seem legitimate on the surface, but they are malicious e-mails used for wicked purposes. Many phishing messages always try to get you to click on a button or link, taking you to a familiar-looking fraudulent website where they may solicit you to enter your account details. You could also be led into clicking on a link or downloading a file containing spyware, which hackers may use to export your card details and other information.
Yet another widely used phishing technique is to provide a phony and all-too-expedient reason to call a company, be it your credit card company or Social Security office. The e-mail will include a false telephone number. When you call that number, it will ask you for your personal information, including your card details, in order to “verify your identity.”
2. Public Wi-Fi networks
Public Internet Networks Public Internet networks, whether in hotels or airports, can quickly get you into trouble should you input your account information or open sensitive documents when someone else is scanning the network.
Think about installing a VPN on your computer if you need to get online often out of the house.
3. Large Data Breach
Such big businesses include banks and retailers. Targeted data breaches are also committed against these big businesses, which compromise the credit card and other personal information of their customers. Among the largest data breaches in the last decade, one took place in 2019 at Capital One and another in 2017 at Equifax, involving the theft of information for tens of millions of consumers.
4. ATM skimming
Some thieves will still try to steal your credit card data the old-fashioned way, so it still pays to stay diligent with any paper copies of your information. For instance, your trash can be a treasure trove of credit card and account numbers or for figuring out which companies you use for your savings or investment accounts.
Card skimming is still rife at ATMs. This simply means replicating a credit card by infected payment terminals and ATMs that capture your card number every time you insert or swipe it into the terminal.
How to Protect Your Credit Card Information
You can start protecting your credit card information and identity right now, beginning with ensuring you are dealing only with secure websites:
Never enter credit card numbers or other personal information on unsecured websites. Look for a padlock icon or “https” in the web browser domain, but that does not guarantee security. Double-check the website address yourself each time you navigate to a new site, and only click links from trusted sources.
1. Never give your account number over the telephone.
Be very cautious whenever they ask for personal information or your credit card number over the phone. This also goes for if they call you to process the transaction.
2. Monitor your card during in-person transactions.
If you are paying with a credit card in a restaurant or retail store, avoid situations where the employee processing your card leaves you and takes your card out of your view to perhaps write down your card number, expiration date, and security code. Also, be sure always to keep your wallet in a safe deposit. In case you happen to be at the gym or just taking your lunch break at work, away from your desk, do not forget to leave anything unsecured, including your wallet.
3. Always open your credit card statements.
The best antidote against credit card fraud is close monitoring. Monitor your credit card statements monthly for each charge on your credit card. Check if they truly belong to you. If there are any suspicious charges or purchases, you should notify your credit card issuer right away.
4. Clear credit card information on e-commerce sites
Take away your credit card information from any unnecessary sites or stores and reduce your chances of falling victim to a data breach. For example, you might save the credit card information in your Amazon or Lyft account to make checking out easier, but this also makes you a targeted individual for theft.
What is the Objective of a Secret Credit Card
The objective of obtaining a secret credit card is to maintain secrecy about one’s financial details. Keeping everything private regarding financial status is a basic right everyone is entitled to enjoy if he/she wishes to. Most of the lending institutions offer secret credit cards. According to banking law, you are required to provide different levels of security and privacy while getting a secret credit card. There are several things you can ask for, but paperless bills are the first.
According to law, credit companies are obliged to provide paperless bills. Now, this is of great advantage for borrowers who do not like their financial records to be the open pages of a book. If you are going for paperless bill, then online service provided by the credit companies will allow you to view your bill. And for that, you need to have access to your PC and the Internet. In this technology-dominated age, you will not have much trouble in getting an internet connection.
The second thing to consider when asking for credit is very important. You must request that your secret credit card service provider not call you at home, your face, or your business address. However, you are required to provide a contact number, and in that case, give the number of your mobile.
Card delivery is also an important issue in keeping everything private while you are going for a secret credit card. Suppose the card reaches your home or office address! What will happen? Well, your secret credit card will no longer be a secret.
A secret credit card benefits you in multiple ways and is the best bet when you do not want to divulge your financial secrets. But then, a higher level of security identification is required to initiate credit card issuing. The necessary details for security identification, such as driver’s license, birth certificate, etc., need to be produced if you are taking a pick from a place other than your residential address.
Conclusion
Any card you use to make purchases can be at risk for fraud, but there are things you can do to minimize the chances of becoming a victim. And no matter what fraudsters charge to your credit card, you will always be covered.
Nevertheless, do everything you can to protect your credit card number and its information. Though you can limit the extent of financial losses from this credit card fraud, you will still have to face hardships and anguish.
