Study: 6 In 10 U.S. Credit Card Holders Affected by Fraud, Unsafe Habits Persist

According to a study by SecurityOrg, 60% of the credit card holders in the USA have experienced fraud. Four out of five American adults have a credit card while three out of them have experienced major or minor frauds. These are approximately 52 million Americans with a median fraud of $100 in 2024 while it was $79 in 2022. One in five frauds also recorded being scammed of $500 in 2024.

96% of the respondents in the survey said that they report the fraud to their banks or credit card providers. Only 4% report them to law enforcement. When the respondents report the fraud to banks, the banks immediately block the accounts to stop any unauthorized purchases. 96% of fraud victims also got their money back after some time.

As digital crime is increasing, many people don’t know how credit card fraud can happen. Most of the credit card fraud and unauthorized transactions were done without the credit card going missing or stolen. It is important to protect your digital information if you don’t want criminals to use your credit cards. These criminals steal credit card numbers through a number of methods like phishing, skimming or shimming numbers, RFID collection, hacking personal data through malware and accessing information leaked through data breaches.

Consumers also have habits that expose their credit card numbers to criminals. 52% of them "use the same credit cards for autopay and everyday spending", 40% use the same password for multiple online accounts, 41% store their credit card information in their browsers, and 34% use public WiFi. connections.

You can keep your credit cards safe by reviewing your credit card statements, subscribing to spending alerts, enabling multi-factor authentication, using online password managers and enrolling in credit monitoring services. Additionally, using digital wallets like Apple Pay and Android Pay can also enhance the security of your credit cards.

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