The recent data breach at a big-box retail chain rattled holiday shoppers and put consumers on alert. While this is the largest incident of financial data theft in recent memory, it isn’t an isolated event. Credit card fraud and phishing scams amount to billions of dollars annually, according to estimates by the Gartner Group.
Financial data theft can occur anytime, but the weeks around the holidays are the prime target. This is because consumer spending activity peaks this time of year, and people are less likely to screen their billing statements due to the volume of transactions. Data thieves take advantage of this fact. They also know that small, numerous transactions are less likely to be questioned by consumers and card issuers.
Protecting yourself against credit card fraud is especially important if you are buying a Columbus home in the future! Here are 10 tips to help you!
1. Obtain transaction receipts. Businesses may treat your receipt as “optional” and only provide one if you ask. Be sure to ask for it!
2. Monitor your account activity online. Do this daily, or as frequently as possible. Compare your receipts to the account record.
3. If you do not recognize a transaction on your account, question it with the card provider and/or issuing bank. Don’t shrug off small transactions.
4. If you suspect that your credit or debit card data has been compromised – even if you do not see “proof” yet – don’t wait for a problem to show up. Ask your financial institution for a replacement card, and/or open a new bank account. The peace of mind could be well worth the minor hassle.
5. Do not carry all your credit and debit cards along with you. Lock away infrequently used cards.
6. When handing your credit or debit card to a merchant or server, keep an eye on it. Card data can be easily photographed with a smartphone.
7. Never lend your credit or debit card to someone. They may not be as careful with your card as you would be.
8. When signing the merchant copy of a transaction slip, do not leave any blank lines in the tip area. If you are not tipping, strike a line through this area. Do not fill in with zero. Always makes sure the total is accurate before signing the slip.
9. Card skimmers that intercept data are sometimes found on gas station pumps. If you are using a debit card, run it as a credit instead, so that your PIN number isn’t at risk. Better yet – pay inside, and use the credit option.
10. Keep up to date with fraud protection tips by visiting the Central Ohio Better Business Bureau and the Federal Trade Commission Consumer Information website.
We hope these tips are helpful to you! When you are ready to buy a home, you can trust us to protect your interests. As your Exclusive Buyer’s Broker, we take the time to educate and inform our clients about the home buying process.
You can help yourself to valuable information right now! Download our FREE e-book, “How to Buy a Home Like a Pro!”
Contact us for help with your home buying questions! Remember, we are with you every step of the way…all the way home!
Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax
