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Plastic cards scams and frauds take a heavy toll by costing card owners and card issuers millions of dollars each year. Although card theft remains the most obvious type of fraud, this crime can occur in other ways. For example, a scam artist may make unauthorized use of your card-account number (effectively hijacking your account) with you being none the wiser - until it`s too late. It isn`t always possible to prevent creditcards online fraudulent activity from occurring. Even so, there are a number of measures you can adopt that`ll make it almost impossible for a fraudster to capture your credit or charge card or card information, and consequently minimize the possibility.
Here are a few valuable tips that`ll make it easier for you to armor yourself against credit and charge card fraud.
What you should ALWAYS do:
- Sign your cards as soon as you receive them.
- Carry your credit card online someplace other than where you carry from your pocketbook -- keep your cards in a zippered compartment, a business card holder, or any other small bag.
- Retain a record of your card numbers, the dates when they will expire, as well as the address and telephone number of every issuer in some secure spot.
- Carefully watch your online credit card when it is being swiped during a purchase transaction, and take possession of your online creditcards as soon as you can.
- Rip up erroneous charge slips.
- Rip up carbon copies of credit slips.
- Save charge slips, so that you can tally them against billing statements.
- Look at credit cards online statements promptly, and compare and balance the card accounts on a monthly basis, much as you balance your bank account.
- If you notice any irregularities in your card statement, notify your plastic cards provider without delay and follow it up by sending them a formal letter, stating your account number, the date your card was stolen or misplaced, and when you notified the issuer.
- Notify card providers ahead of time about a new billing address.
Don`t:
- Hand over your creditcards online to anybody else to use.
- Leave cards or receipts lying around.
- Add your signature to a blank credit slip. Whenever you sign a charge slip, draw a line through any unfilled spaces above the total amount.
- Write or print your account number on the outside of an envelope or a postcard.
- Disclose your online creditcards numbers over a phone line (particularly a cell phone), except when you initiated the call to a firm you`ve dealt with in the past and that you trust. Whenever you aren`t sure about a business establishment, check out its profile with your district`s consumer protection office or Better Business Bureau (BBB).
If you can`t find your credit or charge cards or if you learn that they`ve been lost or stolen, don`t waste a moment - just pick up the phone and notify your charge card provider. A lot of companies provide toll-free numbers and 24-hour service to deal with such urgent situations. By law, as soon as you notify your card company about the theft or loss, you have no further responsibility for illegitimate charges. In any case, the limit of your obligation for unauthorized charges as per federal legislation is 50 dollars for each credit or charge card.
In case you think you may be the victim of card fraud or card theft, you may be made to sign an affidavit solemnly swearing that you weren`t the one who made the purchase.
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