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Prevent Credit Card Fraud
Lucille Said:Can any one guide ,what precaution one should take to minimize the Credit Card fraud?
We Answered:While nothing short of not using credit cards at all can prevent it 100% of the time. You can minimize the chance by using common sense.
1. Protect your credit card just as you would any vital document. That is don't give out the numbers to anyone you don't trust.
2. Review your statements in detail every time month. When you are done with the statements be sure to shread them before you throw them away. Also, shred ANY document with personal information before you throw it away, this includes old and expired credit cards. You can pick up a decent shreader for under $30.
3. Request to stop receiving those pre-screend applications by going to http://www.optoutprescreen.com . This way you can avoid the possibility of someone getting a hold of one of those and using it to get a card in your name.
4. Review your credit report on a regular basis. You are allowed 1 free from each of the 3 agencies per year. So you can check 1 every 4 months for no cost. To do this you need to go to http://www.annualcreditreport.com
5. When you do purchase on the internet make sure you are actually at the site you expect to be at. Make sure the data is encrypted(you will see an https instead of http in the address bar)
Miguel Said:Internet credit card fraud prevention?
We Answered:Everything can be hacked, it's just a matter of time and effort. The best protection is to be proactive. Make sure that you are able to analyze everything about your data, including who accessed it, when it was accessed, and where. Never sacrifice speed for security, it does no good to have a fast service if everything is going to be compromised.
My first source includes a website that trys to break in to your website and points out holes in your security and how to prevent credit card fraud. The rest are just informational links but worth a look. Hope this helps.
Brittany Said:To prevent a problem, can I ask my credit card company for a new card number?
We Answered:just tell them u feel your credit card number may have been compromised and you would like a new card issued with diff number
Agnes Said:What is Credit card fraud and how do you prevent it?
We Answered:Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Credit card fraud is also an adjunct to identity theft.
Ten Tips to Prevent Credit Card Fraud
1. Keep a list of your credit card numbers, expiration dates, and the phone numbers of all card issuers in a safe place.
2. Credit card issuers offer a variety of terms (annual percentage rates, methods of calculating balances subject to finance charges, minimum monthly payments, and actual membership fees). When selecting a card, compare the terms offered by several card companies to find the card that suits your needs.
3. When you use your credit card, watch your card after giving it to a clerk. Take your card back promptly after the clerk is finished and make sure the card is yours.
4. Never sign a blank receipt. Draw a line through any blank spaces above the total when you sign receipts. Tear up the carbons when you take your credit card receipt.
5. Open credit card bills promptly and compare them with your receipts to check for unauthorized charges and billing errors.
6. Write card issuers promptly to report any questionable charges. Written inquires should not be included with your payment. Instead, check the billing statement for the correct address for billing questions. The inquiry must be in writing and must be sent within 60 days to guarantee your rights under the Fair Credit Billing Act.
7. Avoid giving your credit card number over the telephone unless you know the company is trustworthy. Never write your card number on a post card or on the outside of an envelope.
8. Sign new cards as soon as they arrive. Destroy expired cards. Cut up and return unwanted cards to the issuer.
9. If one of your credit cards is missing or stolen, report the loss as soon as possible to the card issuer. Check your credit card statement for a telephone number to report the stolen card. Follow up your phone call with a letter to the card issuer. The letter should contain your card number, the date the card was missing, and the date you reported the loss.
10. If you report the loss before a credit card is used, the issuer cannot hold you responsible for any subsequent unauthorized charges. If a thief uses your card before you report it missing, the most you will owe for unauthorized charges on each card is $50.
Russell Said:Explain ways that a credit card co. could convince a store to enfore policies to prevent credit card fraud?
We Answered:Enforcing policies to prevent credit card fraud is a requirement of having a merchant account. MasterCard or Visa, for example, don't have to "convince" a merchant to follow data protection procedures. They have in place a set of requirements governing the safekeeping of account information. These requirements affect the storage of cardholder information, reporting a security incident, and more.
These requirements are a contractual agreement between the merchant and the credit card issuer. If you fail to follow the procedures your store will not be accepting MasterCard or Visa for long. No merchant wants to be in that position.
Billie Said:How does my sister prevent going to jail for a credit card fraud?
We Answered:My Wife went through this exact same thing a couple of years ago with her Son and this is how she did it.
First of all you must file a police report and send copies to WAMU to clean up your credit.
In my Wife's case it was more like $10,000.00 and her Son is much older then your Sister and believe it or not the police never did anything because they said that in cases like this it's very rare that a family member will testify against another family member.
Even if the police or WAMU do go after her all you have to do is refuse to testify and they have no case.
Yeah, he laid out the perfect details, but I was wondering, if there's a transaction in your statement which you did not make, can you return it back? Now I will have to go and get a thesis writer to complete my dissertation.
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