Ways to Protect Your Credit Card from Being Hacked - Kotak
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27 JANUARY, 2022

We are living in a volatile digital world. We use credit cards more often because they are convenient to use and open infinite possibilities for us. While the immense digitalization has managed to bring everything delivered to your doorstep – right from groceries to a new outfit; it has also made you highly permeable to hackers waiting to steal your personal information.

Electronic and credit card transactions are a blessing to all of us. While this makes our lives easy, it also makes our credit information highly susceptible to hackers. Credit card theft and frauds are some of the most common adverse events happening every day. To guard your personal and credit information becomes more crucial if you transact online regularly.

Undoubtedly, credit card fraud is one of the worst ways of online cheating and if you’re the one that uses their credit card regularly for online payments,

6 Tips to Protect your Credit Card from being Hacked

1. Practise Adequate Safety Measures

There’s no point in being cautious after the fraud is done. If you use your credit card regularly, make sure you check your credit card statement every day or alternate days. Before making an online credit card payment, check the merchant’s details carefully to establish its authenticity. Make sure you’re paying via a secure and trusted online medium. Look for the security certificates and SSL verification on the merchant’s site before making payment.

In case you’ve lost your credit card and applied for a new one, make sure you keep checking your billing statement every day for any fraudulent activity till the new card arrives. If you find any suspicious activity, report it to your bank or lender immediately.

2. Have Crisp & Secure Passwords

The world of online payments may take you for a ride if you don’t know the game properly. If you believe setting a password once is going to offer you comprehensive protection, you’re mistaken. Make sure you select a password that has alphabets, numerals, and special symbols. Your password should be strong and shouldn’t be an easy combination of your name and such stuff. Such passwords are at high risk as they can easily be guessed and hacked by hackers. Also, keep changing your passwords regularly and avoid forming a similar pattern of passwords every time. Hackers can study your pattern, and you may become a victim of cyber fraud.

3. Transact Only at Trusted & Known Sites

Choose only those retail e-stores that you already know and have heard of. Avoid transacting to a new website with your credit card. If at all you have to make a payment there, make sure you do a bit of research before doing so. Look carefully at the website’s design to rule out if it looks professional. Try finding the product elsewhere on the web, as there are plenty of trusted e-commerce platforms that house most merchandise.

4. Get Educated on the Scams

If your credit card number somehow got leaked, it doesn’t imply that hackers have your CVV and expiration details too. Never entertain any call, text, or email asking for such information or requiring any sort of access to your credit card or net banking information. Banks and lenders usually don’t ask their customers to divulge their credit card information on the phone or otherwise. Before making an online credit card payment, check for its encryption status. Never share your credit card information or image of your credit card with anyone over instant messaging apps.

5. Know the Drill

Even if you lose or misplace your credit card, it is extremely important to know what to do in such cases. The first and most crucial step is to let your credit card issuer know of the same and then proceed towards getting your card blocked immediately. Have them send you a credit card replacement at your provided address, and keep checking your credit card billing statement every day till the new card arrives. Report any suspicious activity on your card immediately.

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6. Never Store Your Credit Card Information Anywhere

One of the most potent ways to prevent credit card theft is never to store your credit card details on any website. The e-commerce stores you regularly transact with may prompt you to save your credit card details for ease of future ease. Even if you trust the retailer and have been a regular there, it is advisable to not fall into a pit hole. You never know when your credit card information may get hacked over the web. Check the merchant’s authenticity and security details before making an online credit card payment to save yourself from a data breach.

Always make sure you pick the best credit card from a trusted and reputed lender that offers instant protection and support in case of card theft. Following the above-mentioned credit card safety tips will ensure you never have to face such an issue ever.

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.