Using a smartphone to make payments instead of swiping a credit card is quickly gaining in popularity. Here are five tips to keep your credit card information safe when utilizing a mobile payments app:
- Research. Before entering your credit card information into an app, do some research to make sure it's from a reputable source. Only download apps from trustworthy app stores and utilize their ratings and commenting systems to help you make a decision.
- Phone security. If you have your credit card information stored on your device, it is important to be safe when operating the phone. Make sure you keep your phone operating software updated, as well as your browser and the app or apps that have your financial information. Password protect your phone so that it can't be unlocked by anyone but you. Also, don't click on suspicious links, as they may contain malware.
- Credit over debit. In general, credit cards have greater liability protection than debit cards, so you'll be more likely to have any fraudulent charges forgiven.
- Credit alerts. Most credit card companies offer an alert service by text or email to notify you when charges are made. Utilizing this tool will help you spot fraud quickly.
- Check your statements. Your credit card statements are a great resource of information to help you monitor your credit, especially in the case of fraudulent charges. Keep your monthly receipts and match them up to the charges on the bill to make sure they're legitimate.
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