Credit card fraud is a worldwide problem, and the poor economy has made it even more of a problem. It is vital that you protect yourself from credit card fraud, and there are a number of steps you can take to do so.

First and foremost, only keep the best credit cards. If you have two or more credit cards that are costing you too much in interest – close them down!

So, assuming you’ve got rid of your excess credit cards, what do you do about the ones you still carry around? Several things. For one, if it’s just a quick trip to the market for milk, leave your credit card at home. That way you don’t risk dropping it, or losing it. If you’re like most people, though, carrying your credit cards is a way of avoiding having to carry around large sums of cash, and that is a good thing. If someone takes several hundred euros cash from you, you really have no recourse. But if someone takes several hundred euros in the form of a credit card, your losses are limited.

Here are a few ways to avoid credit card fraud.

• If anyone calls you or e-mails you saying they are your bank and they need your credit card details for some reason that might sound perfectly legitimate, do not provide any of that information. Instead, call or e-mail your bank directly and ask if they contacted you wanting account details. Most will never call you asking for such information, so that you know that an e-mail or call asking for your credit card details is deceptive and dangerous.
• Do you ever play those games online where you have a formula for creating your “pirate name,” or your “stripper name”? Often they’ll say you use your mother’s maiden name for part of it, and then the name of your street for part of it, and maybe your pet’s name for part of it. It sounds innocent enough, except that these are the exact details you use online or over the phone to establish your identity, and if those details get into the hands of someone stealing your identity, they can do a lot more damage.
• Report any suspected credit card fraud immediately. If you report it within 24 hours, you usually won’t be held responsible for anything charged on the cards. But if you wait you may be out a certain amount, say €50, which isn’t that much when someone’s rung up thousands of euros worth of charges, but it’s still €50 that you’d like to keep if you can.