Some Simple and Straightforward Tips for Avoiding Credit Card Fraud
Avoiding Credit Card Fraud
Credit cards can be both a blessing and a curse - and those who have been the victims of credit card fraud understand that sentiment all too well. Used cautiously, they can make purchases both in-person and online much easier to conduct. Used irresponsibly, or without the necessary oversight, however, credit cards can make you more vulnerable to fraud and wreak havoc on your finances. Here's some tips for avoiding the darker side of the credit card world.
Buy From Verified Sellers
If you frequently shop online, make sure that you are not providing your credit card information to sellers that do not offer verified, secure payment processing services. Keying in your credit card information to websites that are less than reputable may result in giving credit card thieves easy access to your account information.
Review Your Statements Carefully
Most credit card providers now offer online access to your real-time credit card statement and charge information. It is important that you diligently check this information and review it for any inconsistencies.
If you don't recognize any of the charges, immediately contact your credit card company and alert them that your credit card information may have been stolen. They can then issue you a new credit card number and cancel the old one to prevent any new unauthorized charges from being made.
Most credit cards also have an anti-fraud guarantee that will relieve you of any responsibility for payment for purchases that you did not make.
Destroy Pre-Approved Credit Applications
We are all familiar with the seemingly endless number of pre-approved credit applications that crowd our mailbox. While it may seem efficient to simply toss them into the trash along with the rest of your junk mail, this is foolish because it gives potential credit card thieves access to your information and the ability to apply for these credit cards on your behalf.
By providing their mailing address information, they intercept the card when it is issued and then make purchases that you are unaware of but that negatively affect your credit report when the bills go unpaid. You can take several measures to avoid this scam.
First, destroy all of the credit card applications that you get in the mail, by ripping them into pieces or even shredding them with a shredder that can be purchased at any office supplies store. Then, sign up for a credit monitoring service that will alert you if any new accounts are opened in your name, or if credit card balances are quickly increasing.
This service can be an invaluable tool to help you avoid credit card fraud, and increases the likelihood that your personal diligence will be successful.
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