As credit card loyalty programs grow in popularity, targeted by scammers. Hackers gain access to your account and in the meantime want to cash in your reward balance. Spending money on a trip to the Caribbean is the last thing you want to do.
So how do these data breaches happen and what can you do to protect yourself? Here are some ways hackers can steal reward balances and tips to protect yourself from these data breaches.
- 1 First, damage Rate and secure your card
- 2 Stolen by publisher Please report
- 3 How does that Understanding What Happened to
- 4 Prevent future theft Prevent
- 5 Conclusion
First, damage Rate and secure your card
If your Rewards account has been compromised, you should be aware of the type of fraud that occurred and the amount stolen. Hackers may have used points to book flights and transferred them from your account. Whatever the issue, you should carefully review your account for discrepancies so that the loyalty program administrator can be fully informed of the extent of the fraudulent activity.
Stolen by publisher Please report
If your credit card has been compromised, you should report the unauthorized charges as soon as possible. The same applies to fraudulent redemptions. Whether it's a bank loyalty program or a frequent flyer account, you should call your card issuer and tell them your account has been compromised.
To facilitate this, contact the Loyalty Program customer service number to speak with a representative. You may see an option to select Fraud Departments from the main menu. If not, simply dial 0 and a customer service representative will direct you to the appropriate department.
In most cases, it is fairly easy to prove that an account has been compromised. A thief could transfer your points to another account or use them to book a trip under someone else's name.Things like this can easily prove that fraud has occurred . A customer service agent should be able to restore your points after a short investigation period.
Years ago someone hacked into my JetBlue account and used my points a few times. Flight between Detroit, Michigan and New York. He recovered my points balance within a week of JetBlue getting scammed because the traveler's name and address did not match mine.
On another occasion, my Radisson Rewards balance was emptied by hackers who exchanged points for gift cards. The fraud team was able to confirm that the account was accessed from abroad and not from my normal IP address. The balance was quickly restored and the account was secured so there was nothing like it.
How does that Understanding What Happened to
If a hacker gains access to your loyalty account password, they can steal your rewards. Data breaches have become so common that scammers can easily access your login credentials and empty your reward balance. It will tell you if it has been compromised. Whether you have one or not, you should get into the habit of regularly updating your passwords in case of a data breach.
By understanding how scammers gain access to reward accounts, you'll be set. Protect your account from future attacks.
Prevent future theft Prevent
Once you've reported theft and secured your account, it's important to take steps to prevent future credit card fraud. Here are her five measures to reduce the chances of your credit card rewards being compromised.
One of the first steps to prevent future theft is to change your password. Not just compromised accounts, but all other accounts as well. If one of your passwords is compromised, your other passwords may also be compromised. Change all account passwords to secure ones immediately.
Experts recommend using letters, numbers, and combinations of letters, excluding personal information that hackers can easily guess, such as names and dates of birth. The more random and elaborate, the better. For added security, you should use different passwords for each account.
Set up two-factor authentication
When you change your password, you should set up two-factor authentication for added security. Cybersecurity expert Bahman Hayat recommends using the free Microsoft or Google Authenticator. Some of Loyalty's programs offer text-based authentication services, but Hayat recommends against using these services as they are less secure.
Use a password manager
You may be afraid of the possibility of remembering multiple complex passwords. Luckily, you don't have to. A password manager like 1Password lets you keep all your passwords safe in one place. The service starts at just $2.95 per month for individual users and $4.99 for up to 5 people. Try Norton Password Manager for a free alternative. A trusted name in online security, it offers Google Chrome extensions.
Be careful when shopping online
Providing personal information (name, address, credit card number) when shopping online is risky. So far, hackers have targeted the databases of major retailers to protect the personal information of millions of people. Protect your data while shopping online by using a virtual credit card number and only shopping on secure sites. Secure sites start with “https” instead of “http” addresses.
You should also avoid using public Wi-Fi networks for online shopping. This is because they are vulnerable to hacker attacks. Using a VPN is also a good way to protect yourself when shopping online as it provides a more secure connection.
Check your reward balance when you pay your monthly bill
While checking your credit card fraud monthly statement, do the same for your reward balance. You need to do. Go to the Rewards tab and make sure your points balance has not been significantly reduced and that points have not been unknowingly transferred from your account.
We live in a world where cybercrime is on the rise and staying ahead can seem overwhelming. At this point, you are doomed to fall victim to fraud. By understanding how these hacks occur, you can do more to protect yourself. Regularly tracking your rewards balance, using password protection tools, and being careful about sharing personal information can help you avoid losing your hard-earned points. You can enjoy the benefits of loyalty points while keeping scammers at bay.