10 Ways to Protect Your Credit Card from Physical and Online Threats

Credit cards offer Filipinos a convenient way to make purchases and manage their finances. They also allow users to enjoy cashless transactions. However, they can come with risks. Criminals often target credit card holders through physical and online tactics, exploiting vulnerabilities to steal information and commit fraud. Some common threats include phishing, skimming, shoulder surfing, and hacking, which can all lead to unauthorized transactions and financial losses if you fall victim.

For phishing, it involves fraudulent communication that tricks you into sharing sensitive information, like credit card numbers, CVVs, or passwords. On the other hand, skimming uses devices to steal card data from point-of-sale (POS) terminals or ATMs. In the case of shoulder surfing, it’s when someone watches you input your card details, while hacking involves cybercriminals exploiting weak security systems to access your card data. 

To help combat these threats, credit card companies in the Philippines provide reminders to safeguard your card. At EastWest Bank, for example, we offer a list of card safety and security tips to guide you in protecting your card from unauthorized use.

Indeed, staying vigilant and being proactive are crucial. With that in mind, here are some effective ways to protect your card from physical and online dangers.

1. Immediately Sign the Back of Your Credit Card

When you receive a new credit card, one of the first things you should do is sign the signature field at the back of the card. This is an essential security measure that ensures the card is valid only for you. When you sign it immediately, you also prevent others from using your card if it’s lost or stolen. In case of theft or fraud, your signature can serve as evidence that the card was compromised. If a thief tries to make a purchase, some merchants may compare the signature on the card with the one on the receipt. If they don’t match, it could indicate fraud. Additionally, if you report unauthorized transactions, your signed card can help verify whether you were the one who actually used it.

2. Keep Your Card Secure

Always store your card in a secure place, such as a wallet with RFID protection, to prevent unauthorized scanning, which bad actors can do physically with chip-enabled cards. Also, be mindful of where you store your card at all times. If you bring it with you and keep it inside your wallet or bag, make sure to monitor your belongings. Consider getting clothes or bags with a hidden pouch where you can keep your wallet safe from pickpockets. 

3. Use Contactless Payment Methods

Whenever it’s available, opt for contactless payments. This includes the tap-to-pay feature on credit card terminals. This is safer because it doesn’t require your card to physically pass through a reader, which reduces the risk of skimming. In line with this, make sure your credit card comes with a contactless payment option. Fortunately, most EastWest Bank credit and debit cards come with this feature. Additionally, most contactless banking transactions these days are encrypted, adding an extra layer of protection against fraud.

4. Inspect Card Terminals

Before using a POS machine or an ATM, always check for signs of tampering. Be sure there are no skimming devices that may look like attachments or loose parts installed on the machine. If anything seems suspicious, avoid using the terminal and report it to the bank or establishment.

5. Be Aware of Your Surroundings

When using your credit card in public, pay attention to your surroundings. If you're at an ATM, choose well-lit and secure locations. In crowded areas, ensure no one is standing too close or watching you input your card details.

6. Report Lost or Stolen Cards Immediately

If your card is lost or stolen, call your bank's hotline immediately to block the card and prevent unauthorized transactions. In the case of EastWest Bank, you can reach our 24-hour customer service hotline at +63288881700. If fraudulent charges were made on your EastWest credit card from the time you reported the loss, you will be free of any financial liability. 

7. Be Wary of Phishing Scams

When you receive calls, emails, or messages claiming to be from your bank, always verify their legitimacy to make sure they’re not a phishing attempt. Also, look for signs of phishing, such as generic greetings, urgent language, or suspicious links. More importantly, never provide sensitive details through unverified communication channels. Instead, call your bank directly to confirm if they authorized the requests. 

8. Shop Only on Secure Websites

When shopping online, look for “https” at the beginning of the website URL and a padlock symbol in the address bar. Trusted e-commerce platforms usually have these details to demonstrate that they prioritize customer security. Additionally, avoid sharing your credit card details on unfamiliar or unverified websites.

9. Use Two-Factor Authentication 

Always enable two-factor authentication (2FA) on your online banking and e-commerce accounts to add an extra layer of security. 2FA requires you to verify transactions with a code sent to your mobile number or email. This way, even if someone has your card details, they cannot complete a transaction without your verification.

10. Regularly Monitor Transactions

Another way to protect your credit card is to check your bank statements frequently for unauthorized charges. If you detect any suspicious transactions, report them immediately. Similarly, sign up for SMS or email alerts for real-time monitoring. This allows you to detect unauthorized activity immediately and take action, whether reporting the issue to your bank or blocking your card.

Credit card security is crucial in today’s increasingly cashless society. Thankfully, understanding the risks and implementing physical and online safety measures enable you to protect yourself from fraud and unauthorized transactions. Consider adopting these tips to further enhance your credit card security. Remember, even small actions can make a big difference in keeping your financial information safe. So, stay informed and proactive to enjoy the convenience of credit cards without compromising your security.