Credit card fraud is rapidly on the increase in South Africa and you need to become more vigilant with your credit card and all information relating to it, says Virgin Money.
According to Virgin Money, you should sign new credit cards as soon as you receive them.
If you receive a replacement card, be sure to destroy your old card by cutting it into many small pieces.
You should, ideally, not dispose of all the pieces of your old credit card in one place because criminals can easily get hold of your personal credit card details by simply putting the pieces together again.
Once you have reconciled your monthly credit card statements with your credit card receipts, you should get rid of the old credit card receipts. If you have access to a paper shredder, this would be an ideal solution, says Virgin Money.
Disposing of old receipts in this way, or by simply tearing them up, frustrates fraudsters' common practice of going through rubbish bins to find receipts and steal your identity.
When you make a purchase with your credit card, avoid faxing your credit card details to third parties.
Your card details on an uncollected fax sheet could lie for hours in the fax basket at the other end. Anyone passing by the fax machine can record your number and begin to use your card number fraudulently.
It is even possible for criminals to intercept your credit card number while the fax is in transmission.
Similarly, when you are making a credit card purchase over the telephone or on the internet, you should exercise the greatest caution.
You should give your credit card details only in telephone calls you have initiated to businesses you trust.
Never give your details to callers who call you unexpectedly or to callers who claim to be from your bank and want to "confirm your details".
None of the banks will ever ask you to confirm your details either by telephone or e-mail.
If you are using your credit card to make an internet purchase, make sure the internet website you are on has an address that begins with "https:\\". The "s" indicates that you are using a secure connection, and a small padlock symbol should appear in the bottom right-hand corner of your screen.
This symbol indicates that it is safe to transmit your credit card number as long you make sure that no-one is looking over your shoulder.
When in a restaurant, never give your credit card to a waiter and allow him or her to leave your sight with it. According to Virgin Money, card-skimming in restaurants is a big problem in South Africa. If the restaurant has hand-held portable payment swiping machines then the waiter should bring one to your table. Alternatively, follow the waiter to the paypoint and don't take your eyes off your credit card even for a few seconds.
Call your credit card company immediately if you suspect trouble or fraudulent activity on your credit card. Virgin Money and other credit card providers have 24-hour lost-and-stolen help lines. If your wallet or purse is lost or stolen, you should immediately call your bank.
Most fraud happens within the first two hours of the theft of your card or personal details, before you have time to think straight again. If you phone your bank immediately, you can block the use of your card and you will not be held responsible for any charges that thieves incur when they use your stolen cards.
Finally, it may sound obvious, but don't keep your personal identification number (PIN) and your card in the same place. You should memorise your PIN as soon as you receive your credit card.