Credit cards when used properly are a safe way to pay. Use your credit card as a tool to build credit and earn rewards and cash back. Pay your balance in full each month to avoid interest charges and consider making payments twice a month, twice monthly payments improve your card’s “utilization rate,” a key factor in determining your credit score. Using your card safely is important to prevent your card or card number from being stolen and used by criminals. Identity theft is at an all time high so using a secure payment method is important.

Here are some tips on how to keep your credit card safe.

  • Monitor your card and make payments online. Choose a strong password for your online account and setup multifactor authentication.
  • Sign up for paperless billing so that you are not receiving a statement in the mail. Mail theft is a real problem, and anything sent through the mail can be stolen which can lead to identity theft.
  • Setup account alerts so that you are notified when transactions are made which can alert you to unauthorized activity on your card.
  • Consider using a digital wallet or payment app. Your credit card information is stored in the encrypted app. These apps allow for contactless payments, removing the need to carry your physical card.
  • Make a copy of your credit card, front and back. If it is ever lost or stolen, you will need that information to report the loss and cancel your card.
  • Freeze your credit with the three major credit bureaus, Equifax, Transunion, and Experian. Freezing your credit is one of the best ways to protect yourself against fraud and identity theft. Get copies of your credit reports regularly and check them for errors which can indicate identity theft.
  • Don’t share your credit card number with others, never include your credit card information in an email or text message.
  • Watch out for skimmers, criminals use these to steal credit card information. They are hidden on ATMs, gas pumps and in other locations, always look for signs of tampering before inserting your card.
  • If you are providing your credit card information over the phone, make sure you are in a secure location where no one can hear the call.
  • Don’t save your credit card information on websites.
  • When shopping or making a payment online be sure the site is secure, the web address should begin with https and display a padlock symbol which indicates the site is encrypted. When you are finished on a website always log out.
  • Never use public Wi-Fi to shop or log into email or financial accounts. Data sent over public Wi-Fi can be stolen by hackers.
  • Consider using an RFID-blocking purse or wallet, criminals use RFID card readers to steal credit card information. RFID-blocking wallets and purses block them from scanning your cards.
  • If your card is lost or stolen contact your credit card company right away to cancel the card and prevent it from being used to make fraudulent purchases.
  • If you notice any unauthorized charges on your statement notify your credit card company immediately.
  • Consider getting a credit card strictly for online purchases, use a card that has a lower credit limit, if your card is lost or stolen and used for fraudulent purchases your losses are minimized due to the lower credit limit, your primary card details remain safe, and you can immediately cancel your card without disturbing other transactions linked to your primary card. And having an additional card can help lower your credit utilization ratio (CUR). This is the proportion of used credit compared to the total available credit. Lower CUR on each card will help to improve your credit score.