With the summer season in full swing, millions of people are enjoying their well-deserved vacations and getaways. Whether it is to book a flight, a hotel or simply buy souvenirs, the credit card has become the preferred payment tool for its convenience and security. However, convenience also comes with risks, and it is essential to be vigilant to avoid falling victim to scams during your card transactions this summer.
No one wants to open a credit card statement and find thousands of dollars in unknown charges. “The protection of credit cards begins with the exercise of caution when using them. Use your credit card only on safe websites and with reputable merchants. Never provide your credit card information to anyone over the phone or email, and be wary of unsolicited offers or requests for personal information”, emphasize the experts of the financial comparator HelpMyCash.com
One of the simplest and most effective practices to avoid possible fraud is to keep your credit card in sight at all times. Avoid giving it to anyone else who may disappear during the transaction.
According to HelpMyCash, it is also best to opt for cards that have benefits for travelers. "They are not always credit cards, they can be debit cards, but their advantages are very good, for example, there are cards that do not charge commissions for withdrawing money outside of Spain or for paying in a currency other than the euro," the experts emphasize.
In this sense, the comparator highlights:
Revolut: Your card —the most basic— allows you to make five free withdrawals per month at any ATM abroad with a maximum of 200 euros per month and currency exchange without commission up to a maximum of 1,000 euros per month
Abanca (NX card): allows you to make five free withdrawals per month at any ATM abroad and does not charge a commission for currency exchange.
N26: this neobank gives up to three free withdrawals per month at any ATM in the eurozone (1.7% commission for withdrawals outside the eurozone) and does not charge a commission for operating in other currencies.
EVO Banco: in this case, all withdrawals abroad are free, without limit. But, EVO uses an overcharge exchange rate.
“When making purchases online, make sure that the website you are entering your card details on is secure. Look for a lock icon in the address bar and verify that the site's address begins with "https://" instead of "http://." This indicates that the information is being encrypted and protected during transmission ”, they advise from the comparator.
Card number, expiration date, CVV code or other sensitive information is never shared with unauthorized persons. Fraudsters often use fake phone calls or emails to obtain these details under deceptive pretenses.
Activate the two-factor authentication option in the bank app. This could include receiving a verification code on your mobile phone or email before completing a purchase.
Review card transactions to ensure there are no unknown charges. If anything suspicious is found, the entity should be notified immediately.
Make sure the bank or card provider has up-to-date contact information. This will make it easier for notifications in case of suspicious activity in your account to reach you quickly.