Fradulent Credit Card Charges

Fraudulent credit card charges are the biggest problems that cardholders are facing today.

Every year, hundreds of millions of dollars are charged to cardholders who didn’t even, in any way, enjoy the purchases made on their card.

How do fraudulent credit card charges happen? Theft is the most obvious form of credit card fraud. Some thieves just steal credit cards and charge away before the credit line is cancelled. Others go through people’s trash for receipts and slips that may reveal all the pertinent information they need. Still others send out invitations by mail to some travel discount club or promo just to get the recipient’s credit card number and pin code or password. Thieves have a lot of ways to get credit card numbers and pin codes. The responsibility is in the cardholder to prevent this from happening.

So, what can one do to prevent fraudulent credit card charges? First things first. As soon as you receive your credit card, make sure to sign it at the back. Second, keep your cards separate from your wallet. Putting all of them in one place will only leave you with nothing once it’s lost or stolen. Having a separate compartment or holder for your cards will eliminate the hassle of reporting a lost or stolen credit card, among others. You should also report to your credit card company about a change in billing address immediately.

It’s also safe to keep a written record of all your account numbers and the contact information of the credit card companies that you are with. This way, you will immediately know who to call and what information to give once fraudulent credit card charges appear in your account.

Every time you shop and use your credit card, it should not leave your sight even for a second. Keep an eye on your card during the transaction, and get it back as quickly as possible. You also should always keep all receipts with you in order to compare them to your billing statements. When receipts become invalid, make sure to void them. Once your bills arrive, you should open them promptly and reconcile them with the receipts that you have. You can even do this every day with online account management systems now available from almost all credit card companies.

When you do see fraudulent credit card charges in your account, what should you do? You should immediately give your credit card company a call and tell them your issue. Once fraudulent credit card charges are reported, you, as the cardholder, will not be liable for any of them. By federal law, you are only obliged to pay for a maximum of $50 per credit card.


Source: Credit Cards For People With Bad Credit Rating

 Print this page
  |     Bookmark this page