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Credit card charges that are unauthorized are not only annoying but they can also cause severe damage to your credit rating. Once your good credit is blemished, it can be very difficult to remedy. Therefore, it is worth the effort to protect your credit from such fraudulent charges which will save you a great deal of time, money and aggravation. The Rise of Credit Card Fraud Credit card fraudulent charges are on the rise. According to statistics released by the U.S. Department of Justice, 10% of U.S. citizens have fallen victim to credit card fraud with 48% occurring via email, 12% via websites on the internet, 10% over the telephone and 17% via other methods. Thieves are becoming more sophisticated in their methods for obtaining credit card information from unwary people. A credit card scam can happen quite subtly and usually without your knowledge. Crooks will use email phishing schemes, internet viruses, discarded paperwork, credit card scanners, mobile device interceptors, and various other means to steal your information which they use themselves or sell to others. Immediately Report Unauthorized Charges Due to the common occurrence of credit card fraud, it is prudent to obtain copies of your credit report at least a couple of times a year in order to review it for any fraudulent or even questionable charges that have not been authorized by you. Erroneous charges are also common which occur from either clerical or computerized error. If left unattended, you will either end up paying for the unauthorized charges or worse, they can destroy your credit. Any unauthorized charges or errors found on your credit report should be immediately reported to the appropriate credit card company. Identify the fraudulent charge or charges to the representative. If suspected credit card fraudulent charges have occurred, the company will most likely cancel the card and reissue a new one. It is important to back up your phone report with a written dispute letter that gives full details of the suspected charges as well as your contact information and the date, as well as time and name of the agent to which you reported the incident. Sometimes, you will be directed by the credit card company to rectify unauthorized charges with merchants. Protect Yourself When applying for credit cards, check on the fraud liability policies of each company and seek those that offer zero liability. That way, when you report unauthorized charges, they are removed from your account and you do not have to make payment on the affected portion of the balance. If you run into difficulties with credit card companies refusing to resolve reported errors or fraud, you should know that you have various billing rights afforded you according to the Fair Credit Billing Act (FCBA). There are other means by which you can apply credit card scam protection. Besides checking your credit report on a regular basis, you should also do the same with online banking accounts. Hiring a professional monitoring service is another way to ensure credit card security by having them constantly watch over your credit cards and credit reports and then immediately notifying you should anything suspicious pop up. Stay Alert Because credit card fraud can happen at any time and through various methods, you should practice remaining alert to fishy credit card scam ploys. The internet has become a popular place where most people spend time and on which they place important personal information. Therefore, install a good quality firewall, anti-spyware and anti-virus software on your computers. Also, do not send credit card information over wireless devices or through computer rooms. There are various other ways to protect your credit card information. For example, shred any important paperwork before discarding, or store it in a secure place. Inspect ATMs before using and avoid any that appear to have been tampered with. Pay cash at restaurants, hotels and other locations instead of using credit card scanners. Do not leave mail unattended for long periods. If you leave town, have the post office hold your mail until your return. Joy Mali is an active blogger who is fond of writing articles on Credit Protection and educating people to take immediate measure if your card is lost or stolen before someone take advantage of it. Follow her on Twitter to know more on how to protect your credit card information from thieves.
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