Home Members Tools Credit Cards
   

  • Tips to Catch Credit Card Fraud

    Identity theft and credit card fraud can be difficult to detect and sometimes costly and time-consuming to correct. While many there are laws and business policies to protect you from fraud liability, youíll still have to spend time dealing with the effects of fraud. Early detection is key to ensuring you minimize credit card fraud damage.

    Your billing statement contains credit card transactions that you didnít make.

    Perhaps the easiest way to spot credit card fraud is by noticing fraudulent transactions on your credit card statement. Thatís one of the reasons itís so important to read your credit card statement thoroughly each month, even if everything appears ok at first glance.

    With online credit card accounts, you can detect fraudulent transactions sooner than if you wait for the statement to arrive in the mail. Make a habit of logging in to your account once a week to see which transactions have posted. If you see anything suspicious, contact your credit card issuer.

    After you notice fraud, initial phone contact is good to have the card issuer flag your account and prevent any future charges from processing. You should follow up with a letter to ensure your rights under the Fair Credit Billing Act are protected.

    You receive bills for credit cards you donít have.

    Donít ignore a strange credit card statement or a notice from a debt collector. If you receive a credit card statement for a card you never opened, call the credit card issuer to let them know you never opened this account. They may ask you for an identity theft report or a signed affidavit as document to support your claim. In the meantime, ask them to close the account so no further charges are made to the account, then work to get the documents necessary to clear up the fraud.

    Your credit report contains accounts you didnít open.

    Strange accounts on your credit report are another sign of credit card fraud and identity theft. You can dispute these accounts with the credit bureau noting that the accounts arenít yours. Follow up with the bank that issued the credit card to clear up fraud.

    One of the reasons the Federal government passed the law granting free credit reports is so you can detect credit card fraud and identity theft sooner. Order your free annual credit reports every 12 months through AnnualCreditReport.com. You can also purchase your credit reports directly from the credit bureaus. Or, you can sign up for credit monitoring to help you detect (not necessarily prevent) credit card fraud.

    Protecting Yourself From Future Fraud

    If fraudsters were able to open accounts in your name, thereís a chance theyíve stolen your personal information and can open more. You can prevent future identity theft by adding a fraud alert to your credit report. A fraud alert is essentially a statement that lets your credit report viewers know that youíve been a victim of fraud. The fraud alert encourages businesses to take extra steps to confirm your identity before granting credit.

    Make sure you report a lost or stolen credit card quickly to minimize or even eliminate the possibility of credit card fraud. Thieves can commit fraud with just your credit card information, so be careful about who handles your credit card and who you give your credit card information to.

    Source: The Federal Trade Commission
  • Disclaimer

    Information in these articles is brought to you by Finance Globe. Banks, issuers, credit card, and other companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles and is further subject to our terms and conditions.
  • Recent Activity

    Meya

    Report Your "Credit limit Increases" Here!

    Thread Starter: Meya

    I think this forum would benefit those who asks other members "When do you think I will get a limit increase." This might end up being a long thread,...

    Last Post By: Wanderer September 2nd, 2014, 01:26 AM Go to last post
  • Recent Forum Posts

    Wanderer

    Re: Report Your "Credit limit Increases" Here!

    Awesome increases! Capital One has your number.

    Wanderer September 2nd, 2014, 01:26 AM Go to last post
    animiser

    Re: Report Your "Credit limit Increases" Here!

    Capital One Platinum - Increased from 450 to 1500 in 6 months (I called and requested both increases)

    Upgraded from Platinum to QuickSilver

    animiser September 1st, 2014, 08:20 PM Go to last post
    bocald99

    Re: Report Your "Credit limit Increases" Here!

    Lowes card from $6900 to $17,000 through credit solutions. Need to remodel kitchen and buy new appliances. Spoke to super nice CS and asked for 20k and

    bocald99 August 28th, 2014, 09:11 PM Go to last post
  • Recent Headlines and Articles

    ChrisB

    Three Updates to make before Listing your Home

    It may not make sense to update your home before listing it for sale, however, there are many benefits of doing so. Most importantly, it will increase the value of the property, which means you can demand a higher price.

    There... read more
    ChrisB August 28th, 2014, 07:04 AM
    ChrisB

    Signs to Move onto another Life Insurance Agent

    When the time comes to purchase life insurance, there is nothing more important than making a confident decision without delay. After all, every day that you wait is another day you are taking... read more
    ChrisB August 27th, 2014, 08:41 AM
    ChrisB

    Why Buying a Car Online makes Sense

    In the good old days of the automotive industry, the only way to purchase a new vehicle was to stop by a local dealer and haggle with a salesperson. While this is still a strategy many employ, technology has changed... read more
    ChrisB August 26th, 2014, 08:35 AM
    ChrisB

    Is your Mortgage Broker Scamming you?

    There will be a lot going through your mind when it comes time to purchase a home. While you spend most of your time searching for the perfect property, there is something else that should be on your mind: obtaining... read more
    ChrisB August 25th, 2014, 08:29 AM
    ChrisB

    Quick Tips for Saving more Money for Retirement

    If you find that you are not saving nearly as much money as you should for your retirement, it is easy to believe that you have to make major changes to your daily life in order to catch up.

    While there is nothing wrong... read more
    ChrisB August 21st, 2014, 09:38 AM
    ChrisB

    To Buy a Car or not to Buy a Car, that is the Question

    Are you the type of person who gets excited about the thought of buying a new car? Or are you the type who avoids this at all costs?

    No matter which group you fit into, there will come a time when you need to answer... read more
    ChrisB August 20th, 2014, 09:29 AM
    ChrisB

    How to get more out of a Job Interview

    Any job interview, regardless of the company or your current position, is sure to bring some level of stress to your life. After all, you wouldnít be interviewing if you didnít want to secure the position.

    Some people... read more
    ChrisB August 19th, 2014, 08:31 AM

 

 

 

Credit Cards | Finance Social Network | Credit Card Reviews | Markets
About Us | FG on the Web | Sitemap | Privacy | Terms | Contact


Copyright © 2014 Finance Globe. All rights reserved.