Greetings!
This month, we're focusing on protecting your identity from credit card fraud. Credit card fraud costs cardholders and banks hundreds of millions of
dollars every year. Credit card fraud often occurs after the card is
stolen. However, thieves can also fraudulently use your account number
while your card sits safely in your wallet or purse.
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How to Minimize Your Chance of Credit Fraud...
Sign your cards. Sign your cards immediately once they arrive in the mail. Store your PIN in a safe place. Memorize your PIN. Do not write it down. Use your credit card number carefully. Don't enter your card number online unless you're on a secure site, and don't send your credit card number to anyone in an unsecured email (which is most every kind of email). Maintain your records. Keep a record of all your account numbers, expiration dates, and contact information for each issuer in a secure place. This will come in handy if your wallet or purse is lost or stolen. Report a lost or stolen card immediately. If you act quickly, you will minimize the potential loss and liability to your accounts. Save and match receipts. Save your receipts and compare them against your billing statements. When discarding receipts, tear them up or shred them so no one can access them in your trash. Monitor your statements monthly. Make sure you recognize all charges on your financial statements. If you see any suspicious transactions, contact your bank or credit card issuer immediately. Watch voided transactions. Keep a close watch on store credits and other cancelled transactions. Carefully review your receipts and statements and make sure voided transactions do not post to your account. Destroy duplicates. Do not leave carbon copies of your receipts behind. Make sure you tear or shred the receipts when you discard them as they contain important information about your identity and accounts. (Even simply blacking out the sensitive information would be effective)
Carry only what's necessary. Only carry cards that you need, leaving others in a safe place at home. Transact with only those you trust. Don't give out your account number unless you know and trust the company.
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