Credit Card Quick

Credit Card Peace of Mind – Tips for Card Security

Card Security

If you have a credit card, you know it will cost you some of your hard-earned money. You don’t want some scammer stealing your information or some thief walking away with your card, leaving you to pay for it.

Here are a few tips and tricks to help you keep your card safe and secure:

Report It Immediately!

In the case that your card does become lost or stolen or you see some suspicious activity on your account, call the credit card company and report it immediately. Do not wait. Your company can not do anything about it if they don’t know about it. Most companies have policies and procedures in place to handle this kind of unfortunate event in your favor. You can be protected and released from taking the financial responsibility of someone else’s wrongdoings, however, there is often a set limit of time for reporting the problem. If you wait, you may have to swallow your pride, as well as the charges.

Always Know Where Your Credit Card Is

If you keep your card in a purse or wallet, know where those things are at all times. If you hide it somewhere in your home, make sure it is a place where no one else can find it. Of course, it never hurts to check these things on a regular basis to ensure that the card is still there. If something does happen to your card, be sure to report it immediately, as mentioned before.

Never let your card out of your sight. It’s a nice gesture to offer to use your card to pay for something a friend or loved one might need, however, don’t hand over the card. Go with them and make the transaction yourself. In some restaurants, you get to swipe your own card or they do it right in front of you. In others, they ring your check to the table and traditionally, you slide your card into that thick little folder and they go make the transaction for you, out of your sight, before returning the card. Know that you have the right to go along with them or to request to pay it yourself. It’s nothing personal (against them, anyway) and the restaurant staff is likely to not only understand, but to accommodate your wishes. After all, it is your credit card and your money.

Pin Numbers

Everyone knows the rule: don’t write the pin number on your card. Well, in this day and age, we carry a lot of credit cards, ATM cards, and debit cards, among others, that require a pin. Memorization of all these numbers can get confusing. However, there are a few tricks to pin numbers that can make this easier for you and can also keep your card secure.

Never choose numbers that would be obvious to those who know you, such as birth dates and addresses. Choose a number that holds some meaning for you; something only you would know, and memorize it. Some credit card companies will automatically issue a pin number. Don’t keep that page with the number on you. It would be too easy for a thief to identify the card that it is associated with.

If you do carry several cards and do not want to memorize a dozen numbers, you can always streamline your pin by using the same one for all of them. However, you must memorize the number and never let those cards out of your sight. If you must write it down somewhere, code it. It sounds funny, but it can work. Put the number into a series of numbers and symbols and letters and memorize which four belong to your pin. That way, only you will know what that code really is. These are good tips, however, ultimately, your best bet is to remember every pin that comes with every card. So keep the number you carry rather minimal.

There are plenty of other ways to keep your credit cards safe. These are just the basic tips to help you be aware and more diligent about your financial security.

Important Facts about Fighting Fraudulent Credit Card Charges

Identity Theft

Most creditors offer some protection against fraud and identity theft, but this protection is not all-encompassing. In other words, there are a certain set of rules to which you must abide to be covered by your creditor for fraud and identity theft.

For example, there is a recent story about a Denver man that paid on his credit card religiously, every month, for the same amount. Because of this, he rarely looked at his monthly statement; he just simply sent in his fixed payment. That’s all fine and dandy, but what he failed to do was realize that a credit card thief had managed to charge upwards of $11,000 on his credit card. Because the Denver man failed to realize these charges in 60 days, as required by the creditor, he was, in the end, responsible for all those charges.

Although most fraudulent charges or mistakes to your credit card account will be considerably much less than the Denver man’s $10,000 bill, they can still sneak onto your bill when you’re not looking. Don’t be caught paying for someone else’s mistake or fraudulent activity. Take charge now and fight back against fraudulent charges!

What you can do to protect yourself against paying for fraudulent charges on your credit card:

• Always, always, always carefully read your monthly statement. Just the like above story, if you fail to notice fraudulent charges on your card in the time frame set forth by your creditor (usually 60 days) then you, too, could be responsible for any charges on your card.
• Contact the merchant directly if you notice a discrepancy on your credit card bill. Often times, discrepancies on your credit card are simply mistakes. If you are unable to find a resolution to your problem with the merchant, contact your credit card company.
• If you find yourself in a situation where the merchant is denying a mistake, you will want to provide documentation to plead your case. Keep all receipts, email and tracking numbers and submit them with your dispute to your credit card company.

Skimmer Credit Card Fraud on the Rise

Card Security

Did you know that a thief can be using a credit card in your name, with your account number, right now?

Don’t think you’re at risk? Think again.

Have you ever handed your card over to a waitress, store clerk or hotel staff member when making a credit card purchase? If you answered yes, then you are at risk of being a victim of credit card “skimming.”

A skimmer is a small, hand held device (often as small as a pager!) which enables a thief to immediately obtain your credit card information in just seconds.  The scenario usually plays out like this: the employee takes your card and leaves to run your credit card for your purchase. With just an extra swipe of your card into the skimmer, the thief now has your name and credit card information.

The thief then usually downloads this information onto a computer and uses it for a variety of fraudulent activities. Many thieves are able to duplicate counterfeit cards and then distribute them for use worldwide.

This problem is huge and getting bigger by the day. In fact, it is estimated that skimming costs consumers more than $1 billion each year.

There are a few things you can do prevent a skimmer from damaging your credit:

• Never let a clerk, waitress or other type of employee walk away with your credit card. Pay cash at restaurants and other venues where your credit card must leave your site.
• Keep a close eye on your credit card bill so that you can catch fraudulent activity before it gets out of hand and ruins your credit score.
• Immediately contact the credit card company in question if you notice any unauthorized charges on your credit card.
• Immediately contact the three, major credit reporting agencies – Equifax, Experian and TransUnion – if you suspect any fraudulent activity and ask them to put a fraud alert on your credit report.

It is important to remember that, as a consumer, you must remain on high alert when it comes to your credit. Stay informed, read your credit card statements carefully, and immediately contact the appropriate sources if you suspect any kind of fraudulent activity on your credit card.