Get Ready for Holiday Shopping: 10 Ways to Protect Your Money

The holiday season will be here before we know it, bringing a busy shopping season for consumers—and plenty of opportunities for scammers. Between online deals, crowded stores, and last-minute purchases, it’s easy to let your guard down. Fraudsters take advantage of the holiday rush to steal credit card information, make unauthorized purchases, and commit identity theft.

Fortunately, a few simple precautions can help protect your money and personal information. Whether you’re shopping online or in stores, here are 10 ways to help keep credit card fraud off your holiday shopping list.

Understand the protections your credit card offers before you start shopping. Many credit cards provide zero-liability protection for unauthorized transactions, subject to the card issuer’s terms and conditions.

Review your card’s protections and learn how to report suspicious activity. If you discover an unfamiliar charge, contact your card issuer promptly.

Fraudsters sometimes test stolen card information with small purchases before attempting larger transactions. Review your credit card activity frequently and look for unfamiliar merchants, duplicate charges, or purchases you don’t recognize. Transaction alerts can also help you identify suspicious activity sooner.

If you notice a suspicious transaction, contact your card issuer immediately.

Reusing passwords across multiple websites can put several accounts at risk if one is compromised. Protect your financial and shopping accounts with these practices:

• Create unique passwords. Use different passwords for every account.
• Enable multifactor authentication. Add another layer of security wherever available.
• Avoid personal details. Birthdays, names, and addresses can make passwords easier to guess.
• Use a password manager. Store strong passwords securely and simplify account management.

Fake websites and fraudulent advertisements can make holiday shopping risky. Stick to reputable retailers and check website addresses carefully for misspellings or suspicious domain names.

Look for HTTPS in the website address, but remember that a secure connection doesn’t guarantee a website is legitimate.

For added protection, avoid unfamiliar links in emails and social media ads, don’t save payment information on untrusted websites, and keep your devices and security software updated. If a deal seems too good to be true, investigate before buying.

Scammers often send fake shipping updates, order confirmations, or payment alerts to steal credit card information. These messages may claim a package can’t be delivered or that an order requires immediate attention.

Protect yourself by:

• Avoiding links and attachments in unexpected messages.
• Checking orders through the retailer’s official website or shipping carrier’s app.
• Being cautious of urgent payment requests or threats to cancel deliveries.
• Never sharing passwords or verification codes in response to unsolicited messages.

If you’ve shared payment details or login credentials through a suspicious link, contact your card issuer, change compromised passwords, and secure your accounts.

Criminals may install skimming devices on payment terminals or fuel pumps to capture card information. Before using a terminal, check for loose components, unusual attachments, or signs of tampering. If something looks suspicious, use another terminal and notify the business.

When possible, consider contactless payments or a digital wallet such as Apple Pay or Google Pay. These methods generally use tokenized payment information rather than sharing your actual card number with the merchant.

When shopping in person, keep your card in sight during transactions and put it away immediately afterward.

Free Wi-Fi at malls, airports, and coffee shops can be convenient, but you may not know how secure the network is.

Avoid accessing financial accounts or entering payment information over untrusted networks. Use your phone’s cellular connection when possible, or a reputable virtual private network (VPN) if necessary.

Remember that a VPN doesn’t protect you from fake websites or phishing scams. Always verify that the website or app you’re using is legitimate.

Scammers may call or text pretending to represent your bank, credit union, or credit card company. They might claim suspicious activity has occurred and demand your account information to resolve the issue.

Caller ID can be spoofed, and scammers may sound convincing. Never share your password, PIN, or one-time verification code with someone who contacts you unexpectedly.

If you’re concerned about your account, hang up and contact your card issuer using the number on the back of your card or its official website. Don’t let a caller’s sense of urgency pressure you into sharing sensitive information.

Protect your wallet or purse in crowded stores, and never leave it unattended in shopping carts or vehicles. Avoid displaying your card number or storing photos of your card where others could access them.

Be cautious about saving payment details on unfamiliar shopping websites. Shred financial documents containing sensitive information before discarding them.

For online purchases, consider using a virtual card number if your issuer offers this feature. It can help keep your actual card number private.

If you notice an unauthorized transaction or believe your card information has been compromised, take action right away.

• Contact your card issuer. Report suspicious activity and follow instructions to dispute unauthorized charges.
• Lock your card if possible. A temporary lock may help prevent additional purchases while you investigate.
• Secure your accounts. Change compromised passwords and enable multifactor authentication.
• Check other accounts. Look for unfamiliar activity, especially if you reused passwords.
• Consider a credit freeze. If your personal information may have been stolen, freezing your credit reports with Equifax, Experian, and TransUnion can help prevent someone from opening new credit accounts in your name. It won’t stop unauthorized charges on existing cards.

Keep records of suspicious transactions and communications with your card issuer. Reporting fraud promptly can help limit further damage.

The holidays should be about enjoying time with family and friends, not worrying about fraudulent charges. By monitoring your accounts, shopping carefully, and protecting your personal information, you can help make your holiday shopping safer.