The Benefits and Risks of Using Credit Cards for Purchases

Title: Protect Yourself from Credit Card Fraud: 5 Risky Places to Avoid Using Your Card

Carrying plastic can be much more convenient than cash, but the convenience comes with risks. According to the Federal Trade Commission, credit card theft and fraud reports have increased by 35% in 2023. While using a credit card can earn you rewards and miles, there are certain places where using your card can put you at risk for fraud.

1. Restaurants and bars:
While many credit cards offer rewards for dining purchases, paying your bill at a restaurant can expose your card details to potential theft. To avoid credit card theft, consider using cash, mobile payments, or self-pay kiosks instead.

2. Non-bank ATMs:
Non-bank ATMs are often targeted by criminals for skimming, where devices capture users’ details for unauthorized transactions. Stick to ATMs at major banks in well-lit, public locations to reduce the risk of theft.

3. Fuel pumps:
Similar to ATMs, fuel pumps can be targeted by scammers for skimming. Look for signs of tampering and consider paying the attendant directly if you’re unsure about the pump’s security.

4. Online retailers:
Some online retailers may not have secure websites, making it easy for scammers to steal your credit card information. Use virtual card numbers for online purchases to protect your real credit card information.

5. Anywhere requiring peer-to-peer payments:
Peer-to-peer payment apps lack the same fraud protections as traditional banks, making it easier for scammers to take your money. Only send payments to people you know and trust, and report any suspected fraud to the FTC.

To protect yourself from credit card fraud, set up fraud alerts, use contactless or mobile payments, and review your statements regularly. By taking these precautions, you can reduce the risk of falling victim to credit card theft or fraud.