Credit Report Blog
Website CertifiedPrivacy Protected
Credit Report & Credit Score; Credit Repair, Debt Management > Identity Theft > Things You Need To Know About Credit Card Identity Theft

Things You Need To Know About Credit Card Identity Theft

By Ruth Racey
Published: Wednesday, December 16th, 2009

Identity theft is one of the fastest growing crimes in the United States. In fact, there are a lot of people that are being victimized by this crime in every single minute. Identity theft is all about thieves being able to steal one’s identity. Usually, these thieves are able to take advantage of the victim’s several personal accounts for their benefit; such as their bank accounts, their insurance accounts, and event their driver’s licence. However, one of the most common kinds of this crime is credit card identity theft.

This kind of crimes involves thieves who are able to steal the victim’s credit card account. Usually, thieves are able to get sensitive information before they can access the victim’s credit card. The time that the thieves have accessed it, they then proceed in using the credit card of the victim for whatever transaction they would want to. More likely than not, consumers who have their respective credit cards stolen usually end up bankrupt. If not, at the least, they would have such low credit scores, making them have a more difficult financial situation than before. In any case, it would mean financial doom to the victim.

There are many ways on how credit card identity theft can be done. One is through thieves not returning a lost credit card that they found. Sadly, there are some consumers who do the fatal mistake of misplacing their credit cards. In this case, the thieves will simply use it as often as they want, until the original owner of the credit card account finally turns bankrupt. Another way is for thieves to intentionally steal the credit card of a hapless consumer.

In this case, thieves would try top hack and get the necessary information for them to access the credit card account of a certain victim. This usually includes their PIN, their Social Security Number or SSN, and of course, their credit card number. Once the thieves have been able to gather such essential information, they would then proceed to use the credit card account of the victim fir all the transactions that they will do.

In this case, the person that becomes a victim of credit card identity theft would surely have financial difficulties. Until the theft has already been caught, chances are, they will rack up debts and bills in the name of your credit card account. In addition, even if you are able to pay off the debt, most likely, you will have incredibly low credit scores. This is the reason why credit card identity theft must be avoided at all costs.

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.