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SmartCredit.com Consumer Education President John Ulzheimer on the steps to protect yourself from credit card fraud.
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Bank security has become a major concern with recent reports of hackers targeting major government agencies companies.
Even Citibank well a new study says there are things both banks and customers can do to keep -- credit card accounts safe.
Joining us now John -- president of consumer education at smart credit dot com John always great -- -- I try to -- -- appreciate -- our right so this list of safest card issuers that comes from javelin strategy and research.
Big names on this list Bank of America discovered and specific cards here discover more Visa platinum on an on -- the list -- USAA.
Other world master card.
So people leave this I mean -- they completely safe -- there absolutely no problem with this.
Well now I know no one is completely -- and now and it's completely immune from being the victim of credit card fraud look.
The cards that are at the top of the -- those are generally -- cards believe it or not not that we're read into advertisement here but those McCarthy -- -- -- think about getting because those -- the cards worth the cost of paying for the fraud is not fully subsidized on the card holder holders like us right.
Exactly the ones that have -- very very poor rating most of the ones that have to charge you more fees are more interest out to cover the cost of all these billion dollars in fraud and they're happy to absorb so think about that next time your shopping -- -- I tell you that makes good sense Jain RE let's look at that credit card safety bank to do -- -- -- banks can do to help us out.
One of those things create text message alerts so if you have problems that there's a big overdraft coming -- -- charge.
I think -- text message you like that.
I lobbyists hi I'm just actually -- bottled -- is not the standard operating procedure autocratic Carter short every time.
I swipe my card -- it doesn't matter if at a gas station or -- a piece of jewelry or anything in between.
I would love to get a text message within a few minutes that says hey John Alzheimer you'd expect X number of dollars.
On your ABC credit card account at this merchant.
If you did not do this call us immediately it's basically this second liable -- -- authentication.
Which is fantastic for people who use -- cart on the Internet.
OK so they say stop asking for Social Security numbers inside -- how low is that not the most obvious thing and -- -- -- on.
Is that is that also reflect common sense -- water advance common sense -- in the world is still asking for Social Security numbers.
And who in the world is actually giving social security and what.
A lot of places -- -- like the last four digits of your social and that's fine because there are five still messing.
But still to ask for an actually write down or -- lacked the entire nine digits social what is the recipe for disaster -- -- We mean by limit on line access what does that mean.
Yet -- this one is a tough one Gerri what -- what is gaining suggest dead.
Is that if you don't have the most current versions of anti virus or hacking software installed on your computer.
-- some banks are supposedly not gonna let you into -- online banking that is absolutely not gonna happen and I'll tell you why.
Because banks want you to do on line banking they want you to pay your bills on line they wanted to check your statements online it's -- because it's cheaper it's cheaper because -- not pushing paper right so I don't think -- -- -- again -- I don't think any bank is gonna.
Actually volunteer to do that.
Yeah -- some believable differences in costs for the banks.
And makes a big difference to them let's talk about what I can do -- consumers can -- I think that's an important less obviously worry set update your anti virus software critical critical critical -- -- banking on -- you wanna make sure -- safe.
Using simple easy PG review your statements.
-- my look -- would have to.
Yeah absolutely -- you look at mrs.
This is not just something we -- -- there to fill up some time on television.
You'd be surprised how many cursory charges a dollar two dollars 1995.
If you have a two -- three page statement.
Of charges are you really get a notice a nineteen dollar and 95 cent charge I don't think south so you have to be.
Unbelievable hyper diligent with respect to reviewing your statements and the reason they're doing some of these really small nominal charges a dollar dollar fifty.
As they're looking for weaknesses and the facts they wanna see a is this -- -- still acted as this idiot really not stopping.
That in and had they not cancel this card getting that they haven't been an excellent -- little higher in the next amenable to higher.
What does spear fishing.
And I mean fishing PH not fishing up.
-- trying -- but I you go to the ocean you hire about you spent about three or four hours and you catch a budget that's actually that is not what spear fishing as.
Spear fishing as a form.
Email fraud where.
The -- have an understanding.
Of what I view it and they cannot understand -- a homogeneous.
Aspect of a group of people so we all have a -- Sports Illustrated subscriptions we all have season tickets to the Yankees they know something very unique about the population and can target.
-- refine the fraud emails to say something that is gonna resonate with you it's not just a blast email that said.
Hey update your suntrust -- -- here that only applies to small percentage of the people who actually get -- spear fishing as a much more fine form about.
So people get duped into thinking they have to do something respond in some way get some information in some way -- don't fall for it.
Your bank don't call you or you call your bank if he gets something from them it's it's you know what it is call them up -- what the delist.
Right and and don't call and don't call the phone number and email called a phone number on the back of a card amen to that are right John thanks help today appreciated --
