The credit card scam is on the rise, more so because of the state of our economy.
Because of our economy, criminals are committing identity theft on a much larger scale.
Thieves target ATM and credit card numbers because these types of identity theft are easy for a criminal to steal.
It pays to be knowledgeable about the credit card scam and other identity theft scams and the steps to take to protect yourself but, more so during the holidays.
We all tend to be more preoccupied during holidays and our attention is easily distracted.
Knowledge will stop your financial losses and protect you from becoming a victim of the horrible crime of identity theft.
The thief will use the credit cards for a short period of time, maxing out your credit, and then move on to the next victim.
You probably won’t even know your credit cards have been compromised until it's too late.
Take all the necessary steps so you don't become the next victim of a credit card scam.
Click here for more atm security tips for your protection.
Legitimate companies do Not call and ask for credit card numbers over the phone or email you for personal information.
Never respond to emails or phone calls of this nature.
If you need to confirm the information call the company yourself…that is the safer way to proceed.
Make sure where it is and get it back as soon as possible. Do your best not to let your credit card out of your sight.
When in stores always shield the password numbers you are entering.
If your card is lost or stolen it limits your financial loss.
Always update your list whenever you receive new credit cards.
Do this right away. You’ll be glad you have this if you find you are a victim of identity theft.
To protect yourself and learn more go to identity theft scams.
If you don’t report your stolen credit card you may be responsible for the whole bill.
According to United States law, you have no more responsibility for unauthorized charges once you have reported the loss or theft of your credit card.
Many credit card issuers waive that fee for their good customers.
You can refuse to pay any part of the unauthorized charges while the theft is being investigated.
Debit cards are a completely different animal and have a different law called the Electronic Fund Transfer Act.
If you miss that deadline, you are in danger of losing all your money in that account.
The debit card accesses funds directly from your account and you can be left up the “proverbial creek without a paddle” while the fraud is investigated.
I had this happen to me. I go over my statement and transactions every few days online and noticed a $150.00 charge from my debit card.
I called the bank right away to report what happened.
I changed my account number and PIN (that’s very important to do) and then waited for the bank to investigate.
The bank gave back the money in my account on a Temporary basis until the completion of the investigation.
I Never added this to my account. I pretended it wasn’t there. I didn’t want to spend the money and then find out I wasn’t really going to get it back.
It took 3 Months for me to get this credit card scam resolved because the company where the debit card number was used had 45 days in which to reply.
The whole investigative process left a lot to be desired.
Experian (formerly TRW): 1-888-397-3742
Trans Union: 1-800-680-7289
If your driver’s license was stolen contact your local Department Of Motor Vehicles.
My sincere hope is you never have a credit card scam happen to you. The tips above will help you keep your identity safe from “prying eyes” and “sticky fingers” and keep your identity where it belongs…with you!