Plastic cards hoaxes and frauds take a heavy toll by costing cardholders and issuers billions of dollars each year. Although theft continues to be the most evident kind of fraud, fraudulent activity has a number of variants. For example, someone may make unauthorized use of your card number unbeknown to you. It is not always possible to avoid creditcard frauds from taking place. But there are several things you can do that will make it all the more challenging for a scam artist to get hold of your credit or charge card or card information, and consequently cut down on the risk.
Given below are a few useful tips to help you defend yourself from the theft of your credit or charge card.
Do:
- Sign your cards as soon as they arrive.
- Keep your credit cards online in a different place than where you keep from your pocketbook -- carry your cards in a zippered compartment, a business card holder, or any other small bag.
- Maintain a record of your card numbers, their expiry dates, along with the address and telephone number of every card issuer in some secure spot.
- Keep an eye on your credit card when it is being swiped during a purchase transaction, and take back your creditcards as soon as you can.
- Destroy and discard faulty charge slips.
- Shred credit slip carbons.
- Retain transaction slips, to compare them with card statements.
- Go through online credit card bills as soon as you get them, and compare and balance the accounts every month, much as you balance your checking account.
- Report any questionable charges to the plastic card provider immediately and in writing.
- Report to card providers beforehand of a change in address.
Things you should not do:
- Allow anyone else to use your creditcards.
- Leave cards or receipts lying around.
- Sign a blank receipt. Whenever you add your signature to a charge slip, draw a line through any unfilled spaces on top of the sum total.
- Write or print your account number on a postcard or the outside of an envelope.
- Disclose your credit cards online information over the phone, unless you`re making the call to a firm you know and trust. Whenever you harbor any misgivings about any company, check it out with your regional consumer protection office or Better Business Bureau.
If you can`t find your credit or charge cards or in case you discover you`ve either lost them or somebody has stolen them, pick up the phone and call the online creditcard company right away. Many card providers provide 1-800 numbers and 24/7 service to respond to these kinds of crises. Legally, as soon as you report the theft or loss to the card issuer, you have no further responsibility for illegitimate purchases made on that card (or cards). No matter what, your maximum liability as per federal legislation is $ 50 for each credit or charge card.
When you have reason to believe that your card has been used for fraudulent purchases, you may be asked to provide a signed statement under oath that you weren`t the one who made the purchase.
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