Its December again and we are just a few more days away from Christmas. It’s a month of Christmas carol, extravagant foods, and flourishing decorations and of course of heaps of gifts. But, do you know this holiday season is not only known for frivolity and fun but also for huge incidents of credit card theft. After all, how would the thieves celebrate Christmas? If you think closely, you can understand why December is prone to credit card theft. During the holiday seasons most people tend to spend more over gifts, vacations, lavish dinner, travel, and entertainment. With the increase in spending volume there is an increase in theft as well. Credit card theft results in sever consequences. It can force you into huge debt and can make your credit repair almost impossible. Read ahead, to know more about the problem and its probable solutions.
Reasons for Credit card theft in holidays
December is a season of family reunions and get-togethers. As most family arranges for a get together this time, many spend their Christmas in unknown cities and little known place. Many consumers go extravagant and often follow unusual pattern of spending during this time. In addition to this, many people, who are not so well acquainted with the online marketing procedure, use their credit cards for on-line purchases during this time. Being a novice, they often commit careless mistake and fall in the trap of credit card thefts. Though credit card companies have stringent fraud detection system to track the usual spending behavior of people, it often fails during holiday seasons. With the advent of unusual patterns in shopping, these systems often fall short to flag fraudulent practices and monitor credit card theft. As a result, thieves who have stolen credit cards either electronically or physically gets more time to commit their crimes until they are detected.
Preventive measures which can save you from holiday theft
Carry one card
No matter how many credit cards you have, consider carrying only one card while you travel. Leaving most of the credit cards at home will limit your exposure to only one card and thereby would restrict your chances of theft damage.
Monitor your credit activity
Make sure you verify the card activity on-line once per week. Many credit card companies have on-line tools to detect fraudulent activities on their accounts. If you login and examine your recent purchases, time to time, you can locate suspicious activity before things get really dicey.
Credit monitoring service
Employ an online credit monitoring service. This generally keeps an eye on all 3 credit bureaus and if anyone attempts to look or applies for credit in your name, they
immediately send forth an automatic notification. This service has an automatic reporting function and offer kind of financial guarantee, if they fail to live up to their responsibility.
Keep the aforementioned points in mind and make sure you protect yourself from credit card theft during holiday seasons.