Credit card fraud is fairly rampant and can attack you in any form if you are not careful. The motive of every fraud related to credit card is different. Therefore, it is important to understand them before they can pose any problem for you or your loved ones.

#1

This is the most common kind of fraud when someone steals your identity to apply for credit card. The fraudster will first lay hands on your identity proofs and use them to get a credit card under your name to misuse it later.

#2

Equally bad is credit card skimming. This is when your personal information that is on the magnetic strip of the card is skimmed or stolen. This is later used to encode a fake card or to undertake fraudulent transactions.

#3

If you lose your card or it gets stolen the criminals can misuse it to make endless transactions which you will be billed for. Hence, it is advised to cancel or block the card as soon as you find its stolen or lost to avoid future fraud.

#4

In another case, your new or replaced card may fall into the hands of the wrong person. The criminal can then use the card to make purchases and much more.

#5

Criminals use a strong magnet to erase the magnetic stripes of the card. By this they can manage the details of the card to those of a valid card and then use it to carry out fraud transactions.

You can apply for RBL credit card from leading lenders such as Bajaj Finance card which offer several benefits such as an emergency loan, redeemable rewards and points, interest-free cash and much more.

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