You may not be able to prevent all possible identity theft, but there are things that you can do to reduce that possibility and detect fraud early. If you suspect that your credit card number may be compromised, ask your card issuer for a new card.
You could be liable for the charges if too much time passes from the time the charge is made to the time you report it. Unauthorized credit card charges include any type of charge to your account for which you didn’t give permission.
The scammers alert customers that their utilities will be disconnected unless an immediate payment is made, usually involving the use of a reloadable debit card to receive payment. Sometimes the scammers use authentic-looking phone numbers and graphics to deceive victims. Report all unauthorized charges to your credit card issuer, no matter the amount. In one particular type of credit card scam, thieves will make a small charge to your account, only $1 or so, and then follow up with a much larger charge. The small charge is typically just a test to see if the account is active and that the larger charge will go through. When you spot an unauthorized charge on your account, call your credit card issuer using the number on the back of your card.
Means of payment card fraud
Credit card fraud can happen to anyone, so remember to practice good data management to keep your personal information out of fraudsters’ hands. You may have no idea your information has been stolen until you see an unfamiliar charge on your monthly statement. You’ll want to review each transaction on your statement for this very reason. Using an updated version will help protect your accounts and provide a better experience. Be sure to stay vigilant in protecting your personal information whenever possible, which can help mitigate the risks. Your digital DNA is everywhere, so it’s best to do something to protect it. As a Discover cardmember, you have yet another option to help you protect your identity and personally identifiable information.
Deferred interest v. balance transfer credit cards
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If you see a website you haven’t heard of before, offering deals that are too good to be true, or get an email asking for your credit card information, this may be a thief trying to get your credit card information. When making purchases at a gas station, opt to use a credit card instead of a debit card to take advantage of this extra protection. Another option is to pay for gas inside with the cashier, where the POS system is less likely to have been tampered with.
For example, if an unauthorized charge was made on February 15 and your statement was submitted on March 1, you have until April 29 to dispute the charge in writing. The credit card issuer isn’t legally required to handle your dispute favorably if you report after 60 days.
If you’re a credit card holder, there’s a very good chance you’ll become a victim of credit card fraud at some point. Some research even suggests that you’re more likely to experience fraud than to avoid it.
FTC statistics reflect only fraud cases that were reported to the agency — and most instances of fraud never actually get reported. Data from the Federal Reserve gives a glimpse into the actual scope of credit card fraud. It could occur when your credit card is removed from your possession, like at restaurants when you hand over your card to pay your check. It can also occur by way of a skimmer attached to a card reader, like those on gas pumps or on ATMs.
But if you miss a payment or don’t pay off your balance on time, you’ll be charged for all of the interest that has accrued since you made the purchase. Store credit cards may try to lure you in with steep discounts and tempting sign-up offers, but you should think twice before signing up for one. “This includes fraud monitoring through banks and payment processors as well as business owners employing their own precautions, including installing fraud protection tools.”
The site allows users to report incidents of identity theft or follow up on specific types of data theft situations, such as data breach, tax fraud or stolen information. The site will then give you the opportunity to file an identity theft report, which is used by law enforcement agencies in their investigation.