Credit card fraud happens anytime someone uses your existing credit information either to make charges or open new credit accounts. Credit card fraud is sometimes difficult to detect and can cause damages to your credit rating that can be time-consuming to correct.
You can often avoid credit card fraud by keeping your credit cards in a safe place. Don’t leave your credit cards unattended even if you think they’ll be safe for a short period of time. For example, don’t leave your credit cards in your car while you’re in the store. It only takes a thief a few minutes to break into your car and steal your credit cards.
Report lost or stolen credit cards to your credit card issuer as soon as possible. The sooner you report a missing credit card, the more likely it is that you can avoid any fraudulent credit card charges. If you wait too late to report a missing credit card, you could end up liable for up to $50 of any fraudulent credit card charges.
Shred mail and documents that have your credit card number written on time. The same thing goes for expired and cancelled credit cards. Some thieves go wading through trash looking for anything that has a credit card number or other personal information written on it. Tearing up your credit card billing statements may not be enough to keep a credit card thief from piecing together your credit card information.
Avoiding giving your credit card number over the phone unless you’ve initiated the call to a company you know and trust. Never give your credit card number or the security code from the back of your credit card to anyone who calls you saying you’ve been a victim of credit card fraud. Your credit card issuer will never ask you to give out this information. Always use the number on the back of your credit card to contact your credit card issuer.
Don’t lend your credit cards, even to family and friends. Once your credit card leaves your hands, you have no control over what happens to it. As long as our credit card is in your care, you can take steps you know will help you avoid credit card fraud.