How to Battle Credit Card Fraud

Staying safe from credit card fraud is a constant fight. Criminals try to trick you into revealing your account number and other information. Shady companies make charges on your cards for purchases you did not make. You can fight these fraud attempts by being diligent and catching suspicious activity as early as possible. You can even close off access to your credit reports so no one can open an account in your name. All these precautions will help you win the battle.

Instructions

1. Read through your credit card statements thoroughly at least once a month, searching for signs of fraud. You will only be able to do a monthly check when you get your paper statement in the mail if you do not have web access to your credit card accounts. Check at least once a week if you are able to do it online. Look for charges you do not recognize or incorrect amounts.

2. Call the merchant listed on your credit card statement for any suspicious items. The business name and contact information should be listed next to each item. Report the situation to your credit card company if you do not get a satisfactory explanation. It can credit back fraudulent charges and issue a new account number if it believes your data has been compromised.

3. Freeze your credit so fraudulent credit card accounts cannot be opened in your name. Identity thieves try to get new accounts with your personal information. You will probably not discover this unless you check your credit reports or start getting strange bills and collection phone calls. A credit freeze, which consumer activist Clark Howard estimates will cost $3 to $10 depending on your state of residence, prevents your credit reports from being viewed unless you give permission with a personal identification number (PIN) or password.

4. Delete email and text messages and telephone voice mails that claim your credit card account has been frozen for suspected fraud. These are known as "phishing" messages and they come from the fraudsters themselves, the Idaho Attorney General's office warns. They hope to trick you into entering your information on a fake bank website or calling a phony fraud line. Call your bank at the customer service number printed on your card if you think there might really be a problem.

Tips & Warnings

• You can put an alert on your credit reports if you are a fraud victim but to not want to do a full-fledged freeze. An initial fraud alert lasts 90 days, but you can get an extension to seven years if you file a police report about the incident, the Federal Trade Commission explains.

References

• Clarkhoward.com: Credit Freeze and Thaw Guide
• State of Idaho: Bank Card "Phishing" Scams with New Twists Target Idahoans
• FTC: Fighting Back Against Identity Theft