Points and miles theft isn’t something you hear about often, but it supposedly on the
rise.
Thieves are starting to realize that it’s not only easier to steal points, but it often
can be done more discretely than just trying to charge things to your account.
In fact, it seems like a lot of people who have had their accounts hacked and points
stolen did not realize it had happened until they went to use their points to book a redemption.
How’s it going, everyone?
It’s Ernest from Trip Astute.
In this video, we’re going to talk about the problem of points theft, what to do if
it happens to you, and how you can reduce the risk.
I don’t want to sound like an alarmist.
As with everything in life, a lot of what we are going to talk about today is common
sense.
However, since I keep hearing stories of people with this experience, I thought I’d dedicate
a video to this topic.
Specifically, I want to talk about why this seems to be on the rise, what steps to take
if you think it’s happened to you, and some tips to keep in mind in order to keep yourself
safe.
But before we dig into the topic, welcome to our channel.
Trip Astute is a travel channel that is focused on sharing ways to make travel easier, affordable,
and more enjoyable.
Traveling can be stressful and expensive, so we’re looking for ways to help you maximize
your experience through travel tips, points and miles, and innovative gear.
If that sounds interesting to you, please consider subscribing.
Points theft is on the rise.
In fact, I mentioned it in my AwardWallet video a few months back.
If you think about it, it makes a lot of sense.
While banks are getting better at detecting fraudulent charges and activity that relate
to your spending, there is less effort spent on monitoring your points and rewards.
And not everyone is checking their points all the time, which means that a savvy thief
could redeem your points for while without you or the bank detecting any unusual activity,
especially if they change the contact info on the account.
With all the recent hacks too, there is a ton of user data floating around the dark
corners of the internet.
Since a lot of people will use the same password for multiple accounts, hackers are likely
using this compromised data to see if they can access other accounts.
Add to the fact that a lot of banks, including my Chase account, don’t have robust security
options when logging into their website, it makes it hard for the average person to protect
their account.
While most points theft results in gift card redemptions rather than transfers to travel
partners since it’s harder to trace, it’s important to be vigilant about any unusual
activity.
If you notice missing points, the first step is to report it immediately to your issuer
or bank.
Just like with any fraudulent charge, the bank or issuer will want to do an investigation
on how the theft occurred.
Since using your points means that the thief most likely had to have access to your account,
you’ll want to immediately change your password and verify that your contact information is
correct.
This is especially important since a hacker will likely have changed your contact information
in order to intercept any account alerts.
From what I’ve read, most people have been able to get their points back.
However, it can take some time for the banks to perform their investigation and come to
a conclusion.
Also, if you have a co-branded credit card, like a Marriott Bonvoy card or United Explorer
card, you might also have to contact the loyalty program to determine how the points were stolen.
They will likely need to be involved to get your points back as well.
Lastly, you may want to consider reporting the incident to your local law enforcement,
especially if you suspect that the information was stolen from a local source.
Even just notifying them of the incident can help them collect data for an investigation.
Having those additional data points may help them to pinpoint a suspect, especially if
others have reported similar instances or activity.
I hope none of you have to deal with this situation.
I know it’s a huge pain, and can be extremely frustrating.
For a lot of us, points carry a lot of value, not just in monetary terms, but also in the
fact that they represent future vacations and travel.
So, just like with anything valuable, it feels like a huge violation to have it stolen.
As always, I want to share some tips to help reduce the risk of being a victim of points
theft.
1.
Use a password manager: I know I’ve talked about password managers in past videos.
They are a great way to not only keep all your passwords unique and difficult, but also
remove the headache of trying to memorize multiple passwords.
For example, I’ve used 1Password for years, and I use it daily.
I have it generate random new passwords for me which then gets synced to all my devices.
When I need to log into a website or app, I can have it pull the password once I supply
my master password.
1Password also detects when an account has experienced a data breach or even recommends
when you should change your password for specific sites.
There are many other password managers out there.
For example, Fiona prefers to use LastPass, and it seems to work well for her.
The bottom line is that you should be creating complex and long passwords that are unique
to ever site you visit.
And the only way that I know how to do it efficiently is to use a password manager.
Plus, it may seem counterintuitive, but having an app create and manage complex passwords
gives me a lot more peace of mind.
Knowing that every account that you use has a unique and difficult password really helps
to minimize the risk when there are security breaches.
2.
Avoid open network connections: You know those free unsecured hotspots at the airport or
your cafe?
They’re often a way for thieves to intercept your data, especially your login information.
I recommend avoiding these connections or using tools to secure your data.
For more information, see our video on the topic.
We got through why these connections are often dangerous and how you can reduce the risk.
On that note, 3.
Use a VPN: If you’re using a connection that may not be secure, I recommend using
a VPN service.
There are a ton of VPN providers out there.
I personally recommend Private Internet Access.
It works seamlessly with both my computer and phone, and I use it pretty much whenever
I’m on a public network.
The VPN basically creates a tunnel between you and the website or service that you’re
accessing, preventing others from intercepting your traffic.
We also did a video on using VPNs when traveling, so check it out for more information.
4.
Avoid open USB charging ports: This is a security vulnerability that I recently learned about.
Apparently, some public USB charging ports have been found to be altered in order to
install malware on your device.
I have to admit that I’ve been guilty of using these USB ports in the past, especially
at hotels and airport lounges.
There have even been reports of altered Apple chargers being intentionally left in airports
in hopes that someone will just plug in.
Since you’ve likely packed your own charger when traveling, I recommend using it instead
of these open USB ports.
Not only will it be more secure, but you can often charge your device faster using a multi-port
USB charger.
In fact, my Anker chargers can charge multiple devices faster than most basic USB ports and
default chargers.
5.
Track your points with AwardWallet: A few months ago, I did a video on AwardWallet and
why I think it’s one of the best tools to use for tracking your credit card and loyalty
points.
Using AwardWallet can also notify you when there are changes to your point balances,
which can be extremely helpful for detecting points theft.
For more information on AwardWallet, see our video on it.
6.
Check your point balances if you get a normal fraud alert: If you happen to have a fraudulent
charge appear on your account, I suggest also checking your point balances.
Most times, we’re more concerned about getting a new card number and physical card.
We won’t even check to see if our points or rewards have been affected.
While having a fraudulent charge doesn’t mean that your points balances have been compromised,
I think it’s a good practice to check them anyway.
7.
Beware of phishing emails or calls: Since stealing your points usually requires the
thief to access your account, your login and password are going to be more valuable than
your actual credit card details.
One of the easiest ways for thieves to get this information is by simply asking you for
the information.
Be very wary of any emails or phone calls requesting that you enter your login information
or provide any password details over the phone.
In fact, even when I get emails alerting me to a new statement, I’ll avoid clicking
on the links and instead log into my account like I normally do to view my statement.
That way I know that I’m not going to a spoofed website that is meant to steal my
information.
Personally, I would love to see issuers and bank start to implement more security measure
when logging in.
I think it would be great to see the issuers use more multi-factor authentication measures
like time-based passwords and tokens.
Our financial accounts are so important to our lives.
It doesn’t make sense that we’re not using the most advanced security measures to protect
them.
Have any of you experienced points theft or know anyone that has?
Also, do you have any other tips to share?
Please let me know in the comment section below.
If you’re interested in applying for a credit card, we would love it if you used our link
in the video description or on our website.
It’s an easy way to support our channel, especially if you’ve found our content to
be valuable and helpful.
Also, if you need any help with picking the right credit card or developing a card strategy,
sign-up for our free card consultation service.
You basically fill out a questionnaire and schedule a 15-minute video or audio call with
me to review your recommendation.
Hope you enjoyed the video and found it useful.
If so, please give us a thumbs up and consider sharing the video with others.
It really helps us with growing our channel and community.
Until next time, travel safe and travel smart.