Cardholder security tips

Losing your credit card, or having its details stolen, can be traumatic and costly

- Search: Being safe with your plastic

Two-thirds of adults have a credit card, and 60 per cent of these have more than one. Many people now use plastic for the majority of their spending.

Losing your card, or having your details stolen from credit card statements or passed on to criminals by retail staff, can be traumatic and potentially costly.

Likewise, hundreds of telephone transactions that involve giving card and bank details to someone over the phone occur every minute, and on occasion these details find their way into the wrong hands.

Here are ways to minimise the chances of becoming a victim.

Tips for cardholders

1. Sign all new cards as soon as you get them
Make a note of the future expiry date. Cut up any old or expired cards.

2. Be extremely careful with your card and card details
If you are going on a night out, consider leaving your cards at home or only taking a debit card with you. DonÂ’t let your card out of your sight when making a transaction.

3. Shred all credit card statements and documents
This should apply to all your financial affairs.

4. Check off receipts against your bank and card statements
If you find a suspicious transaction, contact your bank or building society immediately.

5. Take care when using your card in a cash machine
It goes without saying that you should be vigilant to ensure no one is attempting to record your PIN and that the machine itself does not look dubious.

6. Never keep your cheque book together with your cards
By losing or having them stolen together, you are just making it easier for criminals.

7. If you have lost your card or think it may have been stolen
Report it immediately to the credit card company and notify your bank or building society and the police. ItÂ’s a good idea to keep 24-hour emergency call numbers with you (in your mobile phone memory, for example).

8. If your card has been used fraudulently
You are covered for all but the first £50. However, if you are found to have acted without reasonable care, you may find yourself liable for the full amount.

Tips for telephone transactions

1. Never give your PIN (personal identification number) to anyone
This means either over the phone, or under any other circumstances such as in an email, even if the caller or sender claims they are from your bank.

2. Always get a printable copy or email receipt from the company
Then check all receipts off against your bank and card statements.

3. Only conduct telephone transactions if you have called the company
Never buy from cold callers and if you have made the call, and the name of the company is not familiar to you, try and check its veracity before buying.

4. Ask the seller to confirm the amount you will be charged
Make a note of this at the time of sale.