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Avoiding Credit and Charge Card Fraud...
A thief goes through trash to find discarded receipts or carbons,
and then uses your account numbers illegally.
A dishonest clerk makes an extra imprint from your credit or
charge card and uses it to make personal charges.
You respond to a mailing asking you to call a long distance
number for a free trip or bargain-priced travel package. You're told
you must join a travel club first and you're asked for your account
number so you can be billed. The catch! Charges you didn't make are
added to your bill, and you never get your trip.
Credit and charge card fraud costs cardholders and issuers
hundreds of millions of dollars each year. While theft is the most
obvious form of fraud, it can occur in other ways. For example,
someone may use your card number without your knowledge.
It's not always possible to prevent credit or charge card fraud
from happening. But there are a few steps you can take to make it
more difficult for a crook to capture your card or card numbers and
minimize the possibility.
Guarding Against Fraud:
Here are some tips to help protect yourself from credit and charge
card fraud.
Do:
* Sign your cards as soon as they arrive.
* Carry your cards separately from your wallet, in a zippered
compartment, a business card holder, or another small pouch.
* Keep a record of your account numbers, their expiration dates, and
the phone number and address of each company in a secure place.
* Keep an eye on your card during the transaction, and get it back
as quickly as possible.
Void incorrect receipts.
* Destroy carbons.
* Save receipts to compare with billing statements.
* Open bills promptly and reconcile accounts monthly, just as you
would your checking account.
Report any questionable charges promptly and in writing to the card
issuer.
* Notify card companies in advance of a change in address.
Don't:
* Lend your card(s) to anyone.
*Leave cards or receipts lying around.
* Sign a blank receipt. When you sign a receipt, draw a line through
any blank spaces above the total.
* Write your account number on a postcard or the outside of an
envelope.
* Give out your account number over the phone unless you're making
the call to a company you know is reputable. If you have questions
about a company, check it out with your local consumer protection
office or Better Business Bureau.
Reporting Losses and Fraud:
If you lose your credit or charge cards or if you realize they've
been lost or stolen, immediately call the issuer(s). Many companies
have toll-free numbers and 24-hour service to deal with such
emergencies. By law, once you report the loss or theft, you have no
further responsibility for unauthorized charges. In any event, your
maximum liability under federal law is $50 per card.
If you suspect fraud, you may be asked to sign a statement under
oath that you did not make the purchase(s) in question.
Source
= Federal Trade Commission
Consumer Credit Info Index
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