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Credit
and charge card fraud costs cardholders and
issuers hundreds of millions of dollars each year.
While theft is the most obvious form of fraud, it
can occur in other ways. For example, someone may
use your card number without your knowledge.
It's
not always possible to prevent credit or charge
card fraud from happening. But there are a few
steps you can take to make it more difficult for a
crook to capture your card or card numbers and
minimize the possibility.
Here
are some tips to help protect yourself from credit
and charge card fraud:
-
Sign
your cards as soon as they arrive.
-
Carry
your cards separately from your wallet, in a
zippered compartment, a business card holder, or
another small pouch.
-
Keep
a record of your account numbers, their
expiration dates, and the phone number and
address of each company in a secure place.
-
Keep
an eye on your card during the transaction, and
get it back as quickly as possible.
-
Void
incorrect receipts.
-
Destroy carbons.
-
Save
receipts to compare with billing statements.
-
Open
bills promptly and reconcile accounts monthly,
just as you would your checking account.
-
Report any questionable charges promptly and in
writing to the card issuer.
-
Notify card companies in advance of a change in
address.
Don't...
-
Lend
your card(s) to anyone.
-
Leave
cards or receipts lying around.
-
Sign
a blank receipt. When you sign a receipt, draw a
line through any blank spaces above the total.
-
Write
your account number on a postcard or the outside
of an envelope.
-
Give
out your account number over the phone unless
you're making the call to a company you know is
reputable. If you have questions about a company,
check it out with your local consumer protection
office or Better Business Bureau.
Reporting Losses and
Fraud
If you lose your credit or charge cards or if you
realize they've been lost or stolen, immediately
call the issuer(s). Many companies have toll-free
numbers and 24-hour service to deal with such
emergencies. By law, once you report the loss or
theft, you have no further responsibility for
unauthorized charges. In any event, your maximum
liability under federal law is $50 per card.
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