Credit Fraud and Your Credit Profile
Credit fraud is a problem that around 25 millions of US citizens have to do with every year, according to the statistics. Credit fraud includes fraud with plastics of any kind:
• Identity theft (unauthorized use of your personal information)
• Credit card theft (making purchases on the stolen card until it is cancelled)
• Credit scam (coming in the form of pre-approved credit card applications, making you pay upfront fee)
• Online credit fraud
• Skimming (illegal identity theft by employees)
Prevention is better than treatment, so learn the ways how to escape credit fraud and to keep your credit score under control. Check out your free credit report periodically to reveal credit fraud promptly. Beware of all the credit fraud signs: your score has gone down and continuously getting credit card or loan denials, your credit report contains suspicious requests and accounts of unknown origin, you receive unknown bills. These are the symptoms of credit fraud.
Report fraud to the Federal Trade Commission and credit bureaus to make a step to a more efficient credit fraud protection and to prevent new cases of fraud. The policy of this establishment covers credit fraud punishment. Read our articles and books for comprehensive information on credit fraud prevention. Order your free credit report to start investigation.
If you suspect of a credit card fraud contact your plastic issuer immediately. The majority of credit card companies have 24 hour toll-free numbers for such emergencies.
According to the US law, when you have reported the loss or theft of your plastic, you have no more liability for unauthorized charges.
Your further maximum responsibility will account for $50 per credit card, and many card issuers will even acquit good customers of this fee.
But the best thing is to avoid credit card fraud. It is advised to put a credit card fraud alert on your report. This service is a good weapon against identity theft. No one will be able to apply for an account in your name, as the application will be checked every time. Contact the credit bureau and initiate a credit fraud alert!
However, fraudsters are being really inventive, creating more and more traps for consumers.
Credit card scam is one of them. Even though many people are aware of it, they can't resist the temptation to respond to a call of a smart credit card application. And even the fact that the application in their mail box doesn't have any contact information and requires upfront fee doesn't stop them.
Maintaining good credit score takes efforts and a great deal of responsibility. Whatever credit card or loan you are going to apply for, first verify your credit eligibility.
Remember that fraudsters are not at all picky about the type of credit. No matter good, fair, bad credit rating or secured card you have, you are still exposed to credit fraud. Simple fraud prevention strategies will help you:
• Never tell anybody your credit card details
• Tear your credit card receipts before throwing them away
• Do not carry your card with you when possible
• When shopping or applying for a plastic online, make sure the website is safe
• Report your credit card theft or loss to the issuer immediately.
We encourage you to take precautions and to stay away from credit card fraud.
Copyright ® 2008 Free-Credit-Reports.com
