Debit and credit cards are small but mighty. They let you pay for things around the world and online and get cash from ATMs. But with great power comes great vulnerability – if you’re not careful. In recent years, debit card scams have almost doubled, while 60% of credit cardholders have dealt with attempted fraud. Criminals love these little cards as much as we do, so let’s talk about how to keep their hands off our plastic.
How scammers try to get your debit and credit cards
Whether they want to draw money from your checking account or go on a spending spree, here’s how criminals get your digits:
- Skimming: They add illegal skimmers to ATMs, self-checkouts, and gas pumps that steal your information from the card’s magnetic strip.
- Mail fraud: They intercept your new card in the mail and use it to make purchases and withdrawals.
- Phishing and impersonation: They call, text, and email you with a fake emergency to get your private information. Some scammers even use AI to sound like your friends and family. Flagstar will never contact you and ask for your username, password, or other verification for online or mobile banking.
How to stop scammers from stealing your cards
You can take some simple steps to avoid falling prey to debit and credit card fraud.
- Use the chip at checkout: Tapping a chip card on the payment screen isn’t just faster than swiping. It’s safer, too. Your Flagstar Visa® Debit Card and Flagstar Visa® credit cards are protected with chip technology.
- Add your cards to your mobile wallet: Then you can use your smartphone or smartwatch to pay and not have to worry about fraud. That is, as long as you guard your mobile wallet credentials and never share them with anyone.
- Check before you swipe: If you must swipe your card, look for signs of tampering on the device, such as loose or mismatched parts, unusual bulges, or broken security seals. The FBI has more tips on how to spot skimming devices.
- Watch out for snooping eyes: Be sure no one’s watching you type your PIN and use your free hand to block the view.
- Monitor your account: Check your statements for transactions you don’t recognize.
- Never give away your card number and PIN: This should go without saying, but banks don’t ask for passwords or PINs.
- Be careful with public Wi-Fi: Free hotspots are not secure. Someone could be spying on your online purchases.
- Trust your instincts: If something feels off about the conversation, end it. Then call the number on the back of your card to see if there’s an issue.
What to do if someone steals your debit or credit card info
First, take a deep breath. Don’t beat yourself up. It could happen to anyone. But don’t wait too long because once your information’s out there, the clock’s ticking. Here’s what to do if your Flagstar card is lost or stolen:
- Call us immediately at 888-248-6423.
- Turn off your card. Sign into your account, select Cards or Manage Cards, then toggle the switch from Card is ON to Card is OFF.
- File a report with your local police.
- Report any identity theft to the FTC at identitytheft.gov.
- Call the three major credit reporting agencies so your credit score isn’t affected.
