Credit cards are a dime a dozen these days and fraudsters are wasting no time in zooming in on technological improvement to cash in on this cashless payment system. We, cardholders must do our part to counter credit card fraud.

Keep your card safe. Never leave your purse or wallet unattended - guard your personal data and information at all times. Check that all your cards are in your wallet, as often as possible. Some thieves pick only one card and the theft goes unnoticed until it's too late.

Keep your PIN and card data confidential. Memorise your passwords and PINs so you do not have to write them down. Never give any payment card or bank information to anyone over the telephone, even if you made the call, unless you can positively verify that the call is legitimate and there is a true need for the information. never provide your account number over the phone if you didn't initiate the call.

Keep a list of numbers to call. List your credit and bank accounts so that you can quickly call the issuers to inform them about missing or stolen cards. Include account numbers, expiration dates and the telephone numbers of customer service and fraud departments.

New cards. Call your card issuer if a new or reissued card does not arrive when expected. And sign your credit and debit cards in permanent ink as soon as you receive them. This is so that the merchant can verify that you are the person making the purchase.

Card receipts and statements. Never dispose of receipts in a public trash container. When throwing out receipts or old statements, be sure to destroy the areas where the account number is visible. Keep them in a safe place to refer to if you suspect suspicious activity. Check your statement carefully. Some card issuers provide online transaction checking where you can just log in their web site to check your recent transaction (e.g. Citibank online, Maybank2u.com). Be sure you are familiar with all account activity on the statement. If you find an unauthorised or questionable transaction, call the issuing bank immediately. Also make a note of when your financial statements arrive each month. If they stop arriving, contact your bank immediately.

When using your card for purchases:

- Keep your card in view at all times. Retrieve it as soon as the transaction is completed and make sure that it is yours.

- Draw a line through any blank amount lines that appear above the total amount line or circle the amount to be paid. Never sign on a blank receipt slip.

- Save your receipts for reference.

- Avoid saying your account number aloud at a merchant location or over the phone if others can hear.

When paying over the internet:

- Make sure you are doing business with a reputable internet merchant. Check the site's privacy policy, security measures and details such as delivery date, terms of warranty, cancellation policies and the company's contact number and physical address if you have queries.

- Keep records by printing out your transaction details for reference.

- Make sure your company browser can notify you if the place where you are about to send the information is secure. Look for an unbroken key or closed lock at the bottom of the browser window. If you can't find it, do not put your credit or debit card information over the internet.

- Do not auto save your credit or debit card information in any computers.

If you suspect fraudulent activity:

- Call your financial institution immediately. In some cases, the issuing bank may want you to write in. It may want to cancel your card and mail you a new one. Check to verify that your mailing address has not been changed.

- Check your statements in the following months to make sure that the problem has been completely resolved.

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About The Author
CY Fun is currently the editor of IHateDebts.com - a fun-filled website for everyone who loves money, hates debt and have questions. She provides free counseling service and free walk-through of debt situation to all.