There’s a good chance you’re a victim of credit card scams and you don’t even know it — here’s what to do – Finance

  • Credit card fraud is growing – and so different types credit card scams
  • Credit card Scammers are getting smarter – they use all sorts of tricks, from fake phone calls and letters to credit card skimmers and Wi-Fi hotspots – to get your personal information.
  • You can be a victim credit card fraud and do not even know.
  • If you find a fraudulent payment on your credit card, the first thing you need to do is contact your credit card immediately.

Credit card criminals are getting smarter and you may be in danger.

Last year, Search CreditCards.com that credit card fraud is growing. But it's not just the number of fraud cases – credit card fraud types are becoming more diverse.

Traditionally, criminals steal credit cards or use lost or stolen. Thieves can now sell authentication information, such as zip codes, along with stolen card numbers on the Internet, according to CreditCards.com. And they become smarter in how they get this information.

"[There is] the constant stream of phishing attacks that we get when someone tries to lure us into giving passwords so they can steal funds or steal personal data, ”said Mark Hamrick, senior economist Bankrate, parent company CreditCards.com, said business insider.

“This includes an endless amount of robocalls that we receive on cell phones, fraudulently urging us to call to lower our credit card or answer in response to a problem with the IRS that does not really exist,” he said.

Other fraudulent credit card calls, according to creditcards.com, may include fraudsters notifying you of “suspicious charges” on your account or acting as your utility company, pretending to be lagging behind your accounts. You should also be careful when you are on vacation – scammers can call your hotel pretending that there was a problem with the hotel’s computer system, and ask you to provide your credit card information again.

But fraud is not limited to telephone calls. With the growth of EMV credit cards with chip, scammers are now sending emails asking you to update your information before receiving your EMV card.

Providing your credit card information in any of these scenarios is all a scammer needs to commit credit card fraud. But they can also commit scams without any effort on your part, without your knowledge.

Wi-Fi hotspots are common these days, but beware: scammers can create free Wi-Fi hotspot no password – if you connect to one and access your credit card online, they can steal your login information and possibly your credit card information if you make a purchase. They can also fake credit cards by obtaining their credit card information using skimmer which often go unnoticed by consumers.

After you have your personal information, fraudsters can do everything to call your company or your credit card bank like you and declare that the card has been lost or stolen to fill in fraudulent credit cards (Identity Theft Form) and make a purchase.

There is also an increase in card fraud, according to CreditCards.com. This is when fraudsters make purchases with your name and card number, but not with your real card – think about online orders. When you have your credit card, you may be completely unaware of this.

Here's what to do if you unknowingly fall victim to credit card fraud.

1. Practical vigilance

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1. Practical vigilance

(Thomas Cooper / Getty Images)

First of all, you should try to protect yourself from fraud – or, at least, set yourself up with the proper tools to detect fraud at an early stage. Vigilance is key, says Hamrick.

"One painless strategy is to download your bank’s mobile applications that will help us track all credit and debit card transactions, ”said Hamrick, adding that you should avoid third-party applications. Set up mobile alerts for your transactions: “The best game plan is to know when transactions hit your accounts.”

He also suggests having an emergency savings account through a separate debit card or credit card. "[It] It helps to reduce the time it takes to get a replacement card if you have a problem with fraud in the account you use to make the majority of your personal purchases, ”he said.

2. Contact your credit card company.


2. Contact your credit card company.
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2. Contact your credit card company.

(Spencer Platt / Getty Images)

As soon as you notice something, take action. “If you see something that does not look right, contact your provider or financial services firm right away,” said Hamrik.

Many credit card companies also have accessibility policies, meaning that you will not be liable for fraudulent payments.

Credit cards also have greater federal protection. Legally, credit card users are only liable up to $ 50 for unauthorized or fraudulent payments, if this happens before you report it, reports Business Insider. According to Consumer Protection Bureauif you report a lost or stolen card before using it, the card company cannot be held responsible.

And even if your credit card is not linked to your bank, you must warn them – they can help you keep track of your accounts and report suspicious activities.

3. Contact credit bureaus and FTC


3. Contact credit bureaus and FTC
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3. Contact credit bureaus and FTC

(Daniel M Ernst / Shutterstock)

If you are a victim of identity theft, in which the offender uses your personal information to commit fraud (for example, applying for a credit card in your name), you need to warn the credit bureaus and put a “fraud alert” on your credit reports before contacting your credit card company recommends CreditCards.com.

"Fraud alerts can stop a thief from opening additional accounts in your name, as well as contacting you before opening any new account or changing an existing account", according to CreditCards.com. “Please note that one call to any of the three credit bureaus will be enough to post your fraud warning. The company you are calling must contact the other two. Within twenty-four hours, all three of them will be warned. ”

You must also file a police report, as well as a report with the Federal Trade Commission, which “may help you develop a “recovery plan” to prevent further loss, and, if necessary, separate things from the police and credit bureaus ”, according to CreditKarma.com.

4. Change your online passwords and PIN codes.


4. Change your online passwords and PIN codes.
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4. Change your online passwords and PIN codes.

(AP Photo / Wilfredo Lee)

To prevent further fraudulent transactions, try to control how criminals can use your credit card by changing their online passwords and contact numbers.

This is not limited to your bank account and the vulnerable credit card in question – you must also cancel the link to any online sites (think Amazon) or bill payment sites (think PayPal) with which it is currently connected and changes all passwords online purchases.

And do not forget to check and see if these trading accounts have been compromised.

5. Activity Monitoring


5. Activity Monitoring
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5. Activity Monitoring

(Studio WAYHOME / Shutterstock)

The first sign of credit fraud may not be the last – you will need some time to monitor their affairs about the bank and credit card.

"Fraudulent payments may appear on your cards a few months after stealing your card information, if any additional information, such as credentials that may be compromised, according to CreditKarma.com.

You can also register for a credit card monitoring service that will help you track credit card reports, notifying you of suspicious activities (but do not choose one of them without any background research).

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