​​Here's What Happens When Your Credit Card Info Ends Up on the Dark Web

The dark web is a popular place for illegal activities, which means it's definitely not where you want your credit card info to be. Unfortunately, consumers don't always have a say in the matter. Even if you carefully guard your credit cards and do everything right, there are still ways for criminals to get their hands on your card information.

One way this can happen is a data breach, where a company that has your credit card information doesn't store it properly. Data breaches happen often. There were 1,862 of them in 2021, affecting nearly 300 million people, according to recent identity theft statistics.

Another technique used by cybercriminals is the brute force method, where an attacker attempts to guess your credit card number using invalid payment requests. Research from Newcastle University has found that with this method, it's possible to steal credit card information in as little as six seconds.

This can happen to anyone, and that's why it's so important to be prepared. If your credit card info ends up on the dark web, here's what will happen next and how you can protect yourself.

You may receive an alert

Identity protection companies monitor information being sold on the dark web. If you've signed up for any sort of identity protection or credit monitoring service, you may get a notification that your credit card information was detected.

It's a good idea to sign up for one of these services, and you don't need to pick one that charges a monthly fee. There are several credit card companies offering free identity protection. Some card issuers offer identity protection to cardholders, and others offer it to anyone and everyone.

Your card info gets packaged and sold with any other info the thief has on you

Stolen credit card numbers are a big business on the dark web. After a cybercriminal gets a credit card number, they bundle it with any other info they have, such as the:

• Expiration date
• CVV (the security code)
• Billing ZIP code or full billing address
• Cardholder's name
• Cardholder's date of birth
• Cardholder's Social Security number

They typically sell packages of credit card numbers. It won't just be your credit card info getting sold, but yours and that of dozens or hundreds of others.

Research by NordVPN found that there were nearly 1.6 million sets of payment card details available from the United States alone on the dark web. And on a per-card basis, they cost barely anything. NordVPN reported that a hacked payment's card data costs less than $10 on average. Cybersecurity company Flare reports an average price of just $5.72.

Scammers could test your credit card info with a small transaction

Once a scammer has their hands on your credit card information and is ready to use it, they may start small. The idea is to check if the credit card works first by charging an inexpensive transaction, often for less than $5.

Because it's for a low amount, the test transaction is less likely to set off a card issuer's fraud detection or be noticed right away by the cardholder. If the test transaction works, then the scammer will likely try for a bigger score.

This is why it's important to review your credit card statement regularly and never ignore anything that looks suspicious, even if it's for a very small amount. Report it to your card issuer and get a replacement card sent out.

How to protect yourself against credit card fraud

There's no way to guarantee that your credit card information stays off the dark web. But you can reduce your risk and get it fixed quickly if you are a victim of credit card fraud. To recap, here's how to protect yourself:

• Sign up for identity protection. Remember that many credit card companies offer this service free of charge.
• Check your credit card transactions regularly. Review your entire bill at least once per month. Doing this weekly is even better, because if there is any fraud, you'll catch it sooner and potentially prevent further unauthorized transactions.
• Report fraud right away. Your card issuer can then cancel the compromised credit card and send you a new one.

It's worrisome to know that a criminal could steal your credit card information and sell it on the dark web. Remember that even if you are a victim of fraud, federal law limits your liability to no more than $50 of unauthorized charges. Most credit card issuers take it a step further and have zero-liability policies. If your credit card has a zero-liability policy, and the vast majority do, you won't need to pay anything for fraudulent charges.