Credit Card Fraud Protection Advice Tips
Read these 7 Credit Card Fraud Protection Advice Tips tips to make your life smarter, better, faster and wiser. Each tip is approved by our Editors and created by expert writers so great we call them Gurus. LifeTips is the place to go when you need to know about Credit-Cards tips and hundreds of other topics.
Zero liability credit card fraud protection
Opt in to your credit card company's zero liability credit card fraud protection plan. If you find any fraudulent charges on your credit card statement, you'll be able to contact your credit card company and be released from responsibility for those charges. The credit card company will then give you a new account number and credit card to prevent further credit card fraud. There is usually a small fee associated with credit card fraud protection, but you'll be glad you paid it if you have to use it. With credit card fraud on the rise, it may be more expensive to not have the protection.
Monitor credit reports for credit card fraud
Make sure you are aware of your credit score by obtaining copies of your credit reports from all three of the major credit reporting bureaus. Keeping on top of these credit reports will help you fight credit card fraud by alerting you to possible problems.
If your credit score dips unexpectedly on one of your credit reports, you may be the victim of credit card fraud. If this happens to you, contact the credit card company with the fraudulent charge to report it as soon as possible.
Many states make it possible for you to get a free credit report once per year or after you have been denied credit. If you'd like to have more frequent access to your credit reports, look for a service that allows unlimited access for a monthly fee. Take advantage of this offer to monitor your credit score and quickly fix any problems that might occur as a result of credit card fraud.
Prevent credit card fraud with a single use credit card number
Make your online purchases even more secure with a single use credit card number. These numbers are issued by credit cards as a way to keep hackers from committing information credit card fraud. Single use credit card numbers are different from your regular credit card number, but they are attached to your regular credit card account. They expire immediately after use, so even if a hacker is able to view your online activity, your information will remain safe. The credit card number will be invalid when someone else tries to use it.
When you apply to your credit card company for a single use credit card, find out how long it will be good for. Some will require you to use them within 90 days, while others will be valid as long as your credit card account is valid.
Preventing credit card fraud and stolen identity
Take every precaution you can to prevent information credit card fraud.
Guard your social security number carefully to avoid becoming the victim of information credit card fraud. Any document containing your social security number should be shredded after you are done with it. Never give your social security or credit card numbers to anyone over the phone unless you have initiated the call and can be sure that you know who you are dealing with.
Additionally, don't carry any more credit cards or identification cards with you than you need at one time. Keep photocopies of all credit cards, gym membership cards and identification cards in a safe place for easy reporting in case your wallet or purse is stolen.
Look into subscribing to a credit monitoring service. This service alerts you every time something new is posted to your credit report. This way you can swiftly react to any suspicion of credit card fraud.
Destroy unwanted mail credit card offers
Protect yourself from credit card fraud by properly disposing of unwanted credit card offers. The credit card offers you receive by mail that are "preapproved" often contain your personal information that can be used to commit information credit card fraud. Keep a shredder handy to make sure that no one has access to your information.
Quickly react to suspicions of credit card fraud
By monitoring your credit card account online, you'll be able to more quickly react to suspicions of credit card fraud because activity is updated daily. If you see a fraudulent charge to your account in your online statement, contact your credit card's customer service number right away. Make a note of the time and day of the conversation and the name and extension number of the person you talked to. Also write down details of your conversation including what was promised. Your fast and organized reaction to credit card fraud will lessen the damage and make it easier to fix any problems.
Filing a discrepency with the credit bureaus
When checking your credit reports, look specifically for sudden drops in your credit rating and additional credit card numbers that you haven't opened yourself. If you find problems such as these, you will need to report the credit card fraud immediately to the credit bureau. If you obtained your credit report directly through the credit bureaus, you will be able to do this by phone, online or by mail. If you obtained them through another agency, you will have to file a report by mail. The credit bureau then has 30 days to investigate your complaint. After the matter is resolved, request new copies of your credit report from all three reporting services to make sure that the problem is no longer on your record. Always report credit card fraud to the police.
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