Have you ever been a victim of credit card fraud? If so, you
know just how traumatic it can be. What's more, if you don't
detected it early enough, it could leave bad marks on your
credit report that could haunt you for many years. The most
commonly thought of credit card fraud is when your wallet or
purse is stolen, and the thief uses your credit cards to make
unauthorized purchases.
But, with the increasing rate of online buying, another form of
credit card fraud--known as misappropriation--is spreading like
wildfire. These days the only thing a thief needs to create
havoc on your credit life is your credit card number--not your
actual card.
Here are just a few ways that this type of fraud can happen to
you:
* One day your telephone rings, you answer and the person on the
other end of the line tells you that they have a one time
special offer, good for today only--and that you simply need to
provide them with your credit card number to make a purchase.
STOP! Don't ever give out your credit card number to anyone who
calls you. Only provide this kind of information if you have
called the company to place an order, and you are positive that
it is a well-established reputable business.
* You find that someone has gone through your trash. Then when
you receive your credit card statement, you find that there are
dozens of unauthorized charges. STOP! Always tear up your credit
card receipts and bank statements before putting them in the
trash. Better yet, buy a paper shredder from a local office
supply. Many thieves go through unguarded trash bags
specifically looking for your credit card staments.
* You go out to eat in a restaurant and pay the bill with your
credit card. On your next credit card statement, you notice that
there are unauthorized charges that started the same day as your
restaurant meal. It turns out that the waiter made an extra
imprint of your card when he rung up your bill, and then used
the number to go shopping. The solution? Many restaurants have
placed their credit card processing centers in plain view of the
customer's sight to combat this problem. If not, you could
follow the waiter to the charge station, and watch him
throughout the process. It's also important to make sure that
they know that they are being watched.
You may be wondering if there are other measures that you can
take to make sure you aren't a victim of credit card fraud? Yes
there is and here are a few suggestions.
* If possible, carry your credit cards and other bank
information somewhere other than your wallet or purse. This way,
if a thief nabs it, you will be out only your cash--not your
credit cards.
* Another way is to only take the credit card that you intend to
use that day--leave the others at home.
* Make a list of all your credit cards and keep it in a safe
place, make sure to list the numbers and contact information of
the issuing company. That way, if you do lose them, you'll have
the information necessary to contact the credit card company as
soon as you notice the theft.
* Never sign a blank receipt, and always be sure to cross out
blank lines. For example, if you bought something that didn't
require a tip, cross out the tip line so nobody can add to it
later.
* If you're making a purchase online, be sure that you do so via
a secure site.
* If you move, report your new address to your credit card
issuer immediately. Also fill out a change of address form at
the post office. Sneaky thieves are on the look out for people
moving, and then watch the mailbox of the old house, hoping that
they can intercept a credit card statement.
Following the above suggestions doesn't guarantee you'll never
be a victim of credit card fraud, but it will greatly reduce
your chances.
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http://www.my-credit-report.info This article is copyright 2005,
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