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Since the development of the first general-purpose credit cards in the 1950s, consumers have come to rely upon the use of credit to make purchases. With about 400 million active credit card accounts in the US alone, Credit cards have become a ubiquitous payment option, whether in person or online.

Just how secure are credit cards, though? What are the risks involved in using them, and how susceptible are you to fraud or faulty charges?

As new technologies become integrated with credit card payments, the potential for high-tech scams and errors escalates. Consider the contactless credit card systems using radio-frequency identification (RFID), such as MasterCard Contactless (formerly Paypass), American Express’ ExpressPay, and Visa payWave. Instead of inserting these cards into a traditional card reader and entering a PIN, users simply wave or tap the card at a reader that automatically detects the card and charges the appropriate amount. Because using contactless payment cards only requires proximity—theoretically within 7 cm, though greater distances have been reported—purchases have been known to be charged to wrong cards or for double billing to occur. Some people have even unwittingly paid for the person next in line.

Plus, with early contactless credit cards, nefarious people in close proximity were able to remotely access to the card number, expiry date, holder’s name, and list of transactions. The holder’s name and the list of transactions are no longer accessible remotely (making it impossible to clone the card), but the card number and expiry date remain at risk.

Credit card companies view security issues seriously and have adopted policies to reduce the risk, such as setting a maximum purchase amount or a maximum number of times a card can be used before requiring a PIN. Using a simple mobile phone or card reader device, however, researchers at Newcastle University in northeastern England discovered that scammers could bypass the £20 limit by switching to a foreign currency, which would allow them access up to 999,999.99 in that currency. This major flaw has since been rectified, but criminals will always be look for ways around such limitations.

Of course, fraud protection is typically offered by credit card companies and required by government regulations. In the US, for example, federal law holds a cardholder liable for no more than $50, regardless of the amounts charged to the card. Cardholders could nullify this protection through negligence, however, such as by giving their PIN number to others.

Furthermore, cardholders must report the unauthorized charges within 60 days of receiving the credit card statement in order to qualify for the protection. This means cardholders must closely monitor credit card charges, whether checking online or inspecting statements for unauthorized payments. Though the fraudulent charges are supposed to be refunded to the cardholder without delay, however, many fraud victims report that the refunds are sometimes not received until weeks or even months later.

Debit cards hold greater risks. While liability is $50 when fraud is reported within two days of receiving the statement, the limit increases to $500 for incidents reported between two and 60 days afterward. Beyond that, you may be liable for the entire amount.

As technology continues to evolve, digital tools are now supplementing traditional credit options. For instance, Apple released its mobile payment option—Apple Pay—in October 2014. Rather than using a card, consumers are able to take advantage of contactless payment terminals by using an iPhone 6, iPhone 6 Plus, Apple Watch-compatible device, iPad Air 2, or iPad Mini 3 enabled to make purchases. While Apple’s system itself appears to be secure thus far, processes at individual banks for verifying associated credit cards can vary greatly. As a result, the Apple Pay fraud rate is at 6 percent compared to the 0.1 percent rate for swipe transactions.

New technologies offer greater convenience, though paired with potential dangers. Consumers can enjoy the benefits, but should remain cautious and diligent in monitoring charges. If unauthorized activity is detected, credit providers should be contacted immediately so the problem can be rectified as soon as possible.