Credit Card Fraud: What It Is and How to Guard Your Wallet

If you’ve ever gotten a surprise charge on your statement, you’ve probably wondered if it’s fraud. Credit card fraud isn’t just something you see on the news – it can hit anyone, anytime. The good news is you can catch it early and stop the damage before it grows. Below we’ll break down the most common tricks scammers use, the warning signs to watch for, and easy steps you can take right now to keep your card safe.

Common Signs of Credit Card Fraud

All fraud starts with a red flag. Here are the tell‑tale signs that your card might be compromised:

• Unexpected charges: Small, unfamiliar purchases often appear first. Scammers test the card with low‑value transactions before going bigger.
• Multiple attempts: If you see several declined purchases in a short period, someone may be trying different numbers.
• New merchants you don’t recognize: Even if a name looks odd, check the description – scammers sometimes disguise the actual business.
• Online receipts you never got: An email receipt for a purchase you didn’t make means the fraudster used your card online.
• Sudden change in your credit score: A dip can happen when a fraudster opens new accounts using your details.

When any of these pop up, don’t ignore it. Quick action can save you from higher fees or a ruined credit record.

Steps to Protect Your Card

Protecting your card is easier than you think. Follow these simple habits:

1. Enable alerts: Most banks let you set up SMS or email alerts for every transaction. A tiny ping can be the first clue.
2. Use virtual card numbers: When shopping online, ask your bank for a temporary number. It works for one purchase and then expires.
3. Keep your PIN private: Never write it down in your wallet. If you need to store it, use a secure password manager.
4. Check statements weekly: A quick glance each week catches odd charges before they pile up.
5. Lock your card when not in use: Some apps let you freeze the card with a tap. Do it if you misplace the card or aren’t planning to use it for a while.

If you do find a fraudulent charge, call your card issuer immediately. Most banks will cancel the compromised card, issue a new one, and reverse the unauthorised amount – often at no cost to you. Ask for a fraud reference number and write down the date and time of the call; you’ll need it if you later dispute any charges.

After the incident, change any passwords linked to the account. Check that your email and other online accounts haven’t been hacked, because fraudsters often use the same info across platforms.

Finally, stay aware of new scams. Phishing emails that look like bank notices, fake charity appeals, and text messages asking for a “one‑time code” are common tricks. If something feels off, verify it directly with your bank using a trusted phone number, not the one in the message.

Credit card fraud can feel scary, but with a few daily habits you can keep it at bay. Spot the signs early, act fast, and give your card the protection it needs – your wallet will thank you.