Credit Card Lowdown: Protect Yourself From Fraud

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Protect Yourself From Fraud

Whether you have one credit card or many one of the most important concerns for cardholders is the ability to safeguard yourself from fraud and identity theft, both of which are increasingly common today. A recent report by Credit Counselors recommends that credit card holders not leave credit card numbers, PINs or any such crucial information in a place where anybody can access it. It also recommends that if users misplace their card or believe it stolen, it is important to report this to the concerned financial institution immediately. To prevent such a tragic occurence, it is important that you tear up ATM or transaction receipts with your credit card number on them. Also individuals should take care to sign new credit cards as soon as they them. Otherwise it becomes rather easy for a criminal to sign the card himself and then use your card. Additionally, users should cut up unwanted and expired credit cards. Credit Counselors Reports:

If you report the loss before a credit card is used, the issuer cannot hold you responsible for any subsequent unauthorized charges. If a thief uses your card before you report it missing, the most you will owe for unauthorized charges on each card is $50.