Swipe smart: How to keep your credit card safe from frauds

Fake portals can capture sensitive details, potentially installing malware or spyware on your device and leading to unauthorized credit card transactions.

In today’s digital-first world, credit cards have evolved from mere payment tools into enablers of a smarter, more rewarding lifestyle. As you use your credit card to meet everyday needs and lifestyle aspirations, it’s more important than ever to stay vigilant against the rising threat of fraud. The good news? A few simple yet effective practices can go a long way in safeguarding your personal and card details, so you can continue enjoying the benefits with confidence.

Turn on contactless payments and update your PIN periodically

For small purchases, skip entering your PIN or swiping your card by enabling the contactless payment feature. It's faster, safer, and reduces physical interaction at payment terminals. Additionally, changing your PIN at regular intervals and never sharing it helps protect against risks like card skimming, shoulder surfing, or data leaks. Avoid obvious combinations such as birth dates or repeated digits. Regular PIN updates promote proactive security and strengthen your cyber hygiene.

Avoid clicking on links received from unknown contacts in messages or emails claiming to be from your bank

These could lead to phishing websites designed to steal your card information. Such fake portals can capture sensitive details, potentially installing malware or spyware on your device and leading to unauthorized credit card transactions. Always verify URLs and only use trusted platforms for online banking or transactions.

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Regularly review account alerts and statements

Fraudsters often start with a small test transaction to check if the card is active before initiating larger fraudulent activity. By regularly monitoring your account activity and reviewing statements, you can quickly spot any unusual or suspicious transactions before they escalate. It also helps you track spending patterns, monitor credit utilisation, and stay aware of upcoming payment due dates leading to better financial awareness.

Act fast to block your card if it’s lost or stolen

Immediately block or hotlist your card through your bank’s app, helpline, or SMS. Notify your bank about the loss and file a police complaint if needed. Monitor your account for any suspicious activity and update your payment details on linked services once a new card is issued. Enabling transaction alerts and security features can help prevent future misuse.

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Enable two-factor authentication (2FA) wherever possible

Two-factor authentication adds an extra layer of protection beyond your card number or CVV. Whether you are shopping online or accessing your bank’s app, 2FA typically via OTP or biometric login ensures that only you can authorize transactions. Also, activate transaction alerts to stay informed of real-time activity on your card. It significantly reduces the chances of fraud, even if your card details are compromised.

As we embrace digital convenience, let’s also commit to building stronger financial habits. Practicing these simple tips will help you enjoy the benefits of your credit card with greater peace of mind and security.

The writer is MD & CEO, BOBCARD LTD.

Disclaimer: The views expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with experts before taking any decisions.