Protecting Yourself From Credit Card Fraud

Credit card fraud is a serious problem in Utah, especially stolen credit card account numbers being used to make purchases on the Internet. The consumer pays for the fraud through higher finance charges and annual fees. Consider the following to protect yourself:

• Shred old credit cards, don’t just throw them away.

• Sign your credit cards as soon as you receive them.

• Destroy your credit card and debit card receipts, especially those that show your account number.

• Open your credit card bills promptly and reconcile your account.

• Report stolen or lost credit cards both to the card issuer and your local police. Once you have reported your card lost or stolen you generally will not be responsible for unauthorized charges.

• Do not give your credit card number over the phone unless you know and trust the person you are dealing with.

• Memorize your pin number. Do not keep it with your card or worse write it on your card.

• If your credit card is soon to expire, the issuer should be sending you a new card. If you do not receive a new card in a timely manner, call the credit card company.

• In a sales transaction always get your card back promptly.

• With e-commerce sales booming, the potential for credit card fraud also increases. Use caution. Recent data has shown that internet transactions represent only 2% of all credit card usage, but account for half of all customer complaints.

• Once you have signed your receipt make sure you total out your charges.

• You can request a copy of your credit report from a credit agency to check for any inaccuracies. You should do this if you have recently been a victim of identity theft.