Some of the travel hacking principles in my first Freedom Project book are based on using credit cards and charge cards the right way. As a result of implementing my travel hacking principles myself, I’ve been able to explore and travel the world for free, for many years and counting. After reading my book or attending one of my speaking events, some people asked me if I’m not worried about credit card theft or even identity theft. The short answer is absolutely not – because I’m properly protected.
But what exactly is credit card identity theft, and more importantly: how can you prevent it? Identity theft is one of the fastest growing crimes in the world, and it’s not going away anytime soon. In this article you’ll learn everything you need to know about credit card identity theft – as well as how to better protect yourself against it.
For credit card identity theft to occur someone does not necessarily have to steal your credit card. Credit card identity theft occurs in one of three ways – they can physically steal your card, copy the details from your credit card and/or steal your PIN. In the last two cases you may not even realize that something is wrong until it is too late. The thief may have copied down your credit card information while you weren’t looking, or they may have just watched you entering your PIN when you took money from an ATM.
Credit card identity theft can also occur when someone signs up for a credit card in your name. They will have obtained your personal information (maybe mail stolen out of your postbox) which they can now use to sign up for a new card and start spending on it. When the balance on that card remains outstanding the credit card issuer will initially come after you. You might find yourself in debt that someone else has accumulated on their shopping sprees.
No one is ever 100% secure from credit card identity theft. I’ve had my card copied and stolen several times. Luckily I’ve put systems in place to help protect myself, which means I’m ready to take action if anything should occur. Click here for more info on how to protect yourself against identify fraud.
Most credit card identity theft is happening in stores and restaurants, and not over the internet. Many people feel that giving out your credit card details over the internet is insecure. The question is who do you trust more with your credit card information: a computer specifically designed to deal with such transactions, or a waiter who gets paid minimum wage? This does not mean that you should be careless with your information online, but to also take precautions when you’re shopping in physical stores.
In conclusion, identity theft is one of the fastest growing crimes in the world. While you can never be 100% secure from being a victim of credit card identity theft, you can put the proper protection in place. Find out more about protecting yourself from identity theft here.Protect yourself from Identity Theft
P.S. If you’re like me and run a business where you’d like to be able to deal with invoicing and accept online payments fast, safe and secure – check this out.