Been Affected by Credit Card Fraud? – What to Do Next

The sad truth is, despite companies putting protections in place, identity theft and credit card fraud remain commonplace. In fact, each year more than twenty percent of all identity theft is credit card fraud. Identity thieves steal more than ten million annually. If you’ve been affected by credit card theft, follow these steps to protect yourself.

1. Call the credit card company immediately and report the credit card stolen. Often we don’t know right away if our number has been stolen. You don’t have to be mugged or have your purse or wallet stolen to become a credit card fraud victim. Your number can be stolen via swiping or simply by a clerk or waitperson keeping your number and information and using it to go shopping or pay their bills.

So the first time you may realize you’ve become a victim is when you see your credit card statement. Call the credit card company immediately. The more timely your response, the more helpful the credit card company will be. You’ll need to fill out paperwork and vouch for purchases that you did make with the card. However, your card will immediately be replaced. This means the person who stole your card will no longer be able to charge anything. This is only the first step.

2. Place a fraud alert on your credit report. This will alert all the institutions looking to give you credit to make sure identification has been thoroughly checked beforehand. This means anyone trying to open a credit card account in your name will likely be stopped.

3. File a complaint with the FTC. Documentation is important for the federal government. It gives them knowledge and power to help consumers fight back. Additionally, your case may be part of a larger case and you’ll be helping bring people to justice.

4. Issue a police report. This is important. A credit card company and a merchant cannot often give you your money back or prosecute unless you file a police report. Once you file a report, however, action can take place to find and prosecute the perpetrator.

5. Protect yourself. Once you’ve taken the necessary steps to recover from credit card fraud, become extra vigilant. It’s sometimes difficult to know where or how your credit card information was stolen. Pay attention to retailers. Don’t give your credit card to anyone unless you can see them swipe it through the reader. Pay cash whenever possible. And take care to not swipe your card in any read that looks questionable. There are devices that can be carried around or inserted into other readers to track your credit card number and information.

Become extra vigilant about your credit card information to protect yourself and your finances. Credit card fraud is a crime and unfortunately most people will have to deal with it from time to time. Act quickly, report to the proper authorities and protect yourself.

That’s it for now. Until next time Divas, wear your heels well and Be Blessed!

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