Five ways to keep your credit card safe
Credit cards have become a very popular way for Canadians to pay for purchases. In fact, a 2019 survey from the Financial Consumer Agency of Canada found that a whopping 93% of respondents over the age of 18 have a credit card.
But the widespread popularity of credit cards has also made them a target for thieves and fraudsters. And while using a credit card is generally very secure, a recent Leger poll commissioned by payment processing firm Moneris found that 38% of surveyed Canadians have “engaged in behaviour that could expose them to fraud.”
To mark Fraud Prevention Month, we outline five ways you can keep your credit card safe.
1. Make sure your contact information is current.
It is a good idea to notify your credit card issuer immediately whenever there are changes to your contact information, such as a new home address or phone number. Otherwise, you run the risks of allowing other people seeing statements that could be mailed to your old address or being unreachable when an unusual transaction has been charged to your card.
2. Report the loss or theft of your credit card as soon as possible.
If your credit card has been misplaced or stolen, let your card issuer know immediately so they can block transactions until you receive and activate a replacement card.
If you have a Home Trust Visa, you can report a lost or stolen card by calling 1-800-847-2911.
3. Keep your PIN secret.
A personal identification number (PIN) is key to verifying your identity when you use your credit card to pay for purchases or withdraw money at an ATM, so you should neither share it nor keep a record of it anywhere near your card.
It is also good practice to change your PIN on a regular basis. To change your PIN on your Home Trust Visa, you can call 1-833-263-2828.
4. Check your statement for suspicious transactions.
It is easier than ever to access your credit card statements online, so make sure you carefully review your transactions regularly so that you can identify and report any unusual activity.
You can check your Home Trust Visa statement online by registering here.
5. Shred expired credit cards.
Expired credit cards may have outdated information, but that data can still pose a potential security risk. Make sure to destroy that information with a document shredder to keep it out of unwanted hands.
Keeping your credit card safe comes down to vigilance and common sense, so it pays to always know where your credit card is, check who you are transacting with and keep tabs on your account activity.
To learn more about Home Trust credit card products, visit hometrust.ca/credit-cards.
The information, materials and opinions contained in this Blog are provided for our information only. This Blog does not constitute legal, financial or other professional advice and you should not rely on it as an alternative to specific advice based on your particular circumstance. This Blog contains links to third party websites. These links are provided for information and convenience; Home Trust does not endorse the content of any third party website, and it makes no representation or warranty as to the information on such third party sites. By clicking on any link to a third party site, you leave Home Trust’s website and do so at your own risk. Home Trust disclaims all liability for any damage or loss that results from your access to or reliance on information contained in this Blog or any third party site.