Jason Shen (photo courtesy of Chase)
Author: Jason Shen
Executive Director of JPMorgan Chase
Sponsored content from JPMorgan Chase.
Chase and other financial institutions issue hundreds of credit cards to consumers every day. Most people carry one or more items, and they are often used for holiday shopping.
But now credit card fraud is more frequent than ever. Millions of people are victims of credit card violations each year, and the holiday shopping season is a particularly fragile period.
Not all card issuers—and credit or debit cards—are the same.
Choose wisely when opening a credit or debit card account at a financial institution. If you have been a victim of fraudulent activities, the decisions you make now will either bother you or comfort you.
What to look for in your credit or debit card:
Just say no-like at zero
If your credit or debit card is stolen or used without your authorization, you may not be responsible for any fees. If your card has zero liability protection, you will not be responsible for unauthorized charges.
Stay vigilant
Sign up for account alerts. Chase uses specialized fraud monitoring tools and sends text messages or emails to cardholders to remind them of unusual card activity.
Quick action
If fraud is suspected or your card is stolen, a good supplier will immediately send you a new card even if you are traveling abroad.
Paperless
Eliminate paper statements by registering online to access your credit and debit card accounts. In this busy shopping season, be sure to monitor it every few days or more frequently. If you find any inaccurate or unauthorized content, please contact your provider’s customer service center immediately. If you wait to receive the statement by mail, it may take several weeks to determine the fraudulent transaction-if it goes undetected, the transaction volume and amount tend to increase.
Keep contact information up to date
If you move or get a new mobile phone number, make sure to update your contact information with your card provider accordingly. This will ensure that they can contact you in case of suspected fraud or other emergencies.
Strengthen your password
This may seem inconvenient, but long passwords that use numbers, letters, and symbols are more difficult to crack. If you choose simple or personal information (such as date of birth or child’s name), a savvy hacker may only need to read your personal information on social media to crack the password. In addition, it’s good to change your password every few months.
Throughout the year-end shopping season, and at any time, please follow these steps with your equally attentive card-issuing partners to stay vigilant. Doing so will further increase the possibility of a happier, stress-free vacation.
For more information, please contact Jason Shen jason.j.shen@jpmorgan.com.
