New threat to chip credit cards

File photo

If you use a credit or debit card, it probably has a chip.

However, regular wear and tear can cause the chip to fall off.

Hadley DeFraia is the Vice President of HOMEBANK in Quincy and warns users to check their cards.

"Something that you want to be mindful of is checking the card once you use it, make sure the chip is still there. You can also check your statements and make sure the transactions are lining up. Make sure nothing fraudulent is happening. We have the mobile app that you can check any point in time throughout the day or night to make sure those transactions are really yours," said DeFraia.

You can also use the virtual wallet on your smart phone.

"What happens is it provides a one-time tokenization that cannot be cloned so that is a same way of payment as well," DeFraia explained.

Another tip is to have every transaction sent to you.

"Something else that is very beneficial is transaction alerts for your debit card and you can get those via email," said DeFraia.

If the virtual wallet isn't for you, you can switch your card off with your bank's mobile app.

"The mobile app offers an on and off switch inside of it so if you have a debit card you could turn it off at any point in time. A lot of our customers use that on a daily basis. If they aren't using their card all the time they keep it shut off and then turn it on when they need to use it," DeFraia said.

If you notice signs of fraudulent activity, contact your bank right away.

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