About Credit Card Fraud

Unfortunately, in the world we live in, credit card fraud is a very real and scary problem. No matter who you are, where you come from, or how safe you think you are the reality is that you could be the victim of credit card fraud. The best credit card fraud protection is to know what credit card fraud is, know how to fight it and what you should do if you were to become a victim.

An Introduction to Credit Card Fraud

Credit card fraud comes in many forms, but overall, it boils down to someone using another person’s credit card without authorization or permission. The real scary part is that it could be someone you know OR someone you have never met in your life. People used to think, "well... as long as I always make sure I have my credit card, I can never become a victim of credit card fraud". However, this is simply not true as credit card thieves have become very clever in committing this crime.

For example, do you know for certain that no one could ever apply for and receive a credit card in your name without your knowledge? When you hand over your credit card at a retail establishment, do you know for certain that your information is safe? How about when you shop online, is your credit card information kept away from potential fraudulent activity? The fact is, no matter how careful you are you could become a victim of credit card fraud.

Credit Card Fraud Protection

The following steps provide a credit card fraud protection checklist:

Know where you are shopping – Understand that not everyone is honest, make sure you always check out the company and trust them before trusting them with your credit card information. This includes both online and offline establishments.
Never freely give out your personal information – question the reasons, know company policies of those who call you, and investigate before you take action.
Check your credit card statement every month – Make sure you keep a close eye on your statement. If you see something out of the ordinary, contact the credit card company immediately. Save and compare your receipts.
If you lose your card or it is stolen report it immediately.
Choose PIN’s that are hard to guess and keep them to yourself. Do NOT write them down.
When using an ATM shield your hand when entering your PIN
Watch for fraudulent emails – know your company’s policies.
Check your credit report frequently – This helps keep an eye on any activity where unauthorized events have taken place.

Credit Card Fraud Detection

"What Can I Do If I Detect Credit Card Fraud"? This is a question often posed by many people.

First thing is first; contact your area police department. Let them know that a crime may have taken place and they will make a report after getting all the details from you. You should then call the credit card company immediately thereafter to cancel the card, get a new number and find out what steps you have to take to file a fraud claim with them. Most credit card companies have protection against fraudulent activity; therefore, you may not be responsible for the amounts charged by the thief.

A Summary About Credit Card Fraud

Understanding credit card fraud detection and protection can help you greatly reduce the chances of becoming a victim of fraudulent credit card activity. Make sure you don't get caught out!

Site Links Related to Credit Card Fraud

Credit Counseling - Vancity Credit Union - Credit Check