Help On How To Prevent Credit Card Fraud!

Credit card fraud is a very hot topic right now and I want to know how to prevent it from happening ..... Has anyone here ever experienced this? Or what are the tips that you guys can suggest to prevent credit card fraud?

Here are some tips that have been helpful to be to prevent credit card fraud:

1. Obtain a copy of all your credit reports. The credit reporting bureaus are required to send you a free copy of your credit report each year. Review the items stated here, and quickly point out any mistakes, unknown transactions, or adjustments on the reports.

2. Be on the lookout for companies that ask for your information, either online or via telephone. The FTC states that corresponding through email is unsafe. In the same way, do not give out any sensitive data over the telephone, unless it's absolutely necessary, or if you made the call to the company in question.

3. When discarding old credit cards, make sure to cut through the number.

Destroying carbon copies of bank slips also helps so the thieves wouldn't be able to gain access to your information. If it's possible, investing in a paper shredder to destroy documents bearing sensitive information may help you out lots.

What if i was not able to prevent credit card fraud? what can i do to stop the thieves from hacking into my personal information???

The first thing that you need to do is to file a police report regarding the illegal transaction and acquire a copy of this. Obtain multiple copies of this report as well as well, so that you may distribute them to your creditors, banks, credit bureaus, and collection agencies. This will serve as proof that there was indeed an illegal transaction that transpired on the card.

Another way to prevent credit card fraud is by securing your cards. This little action may not seem so much but it goes a long way. If possible, keep them away from your wallet, and place them in safe, separate compartments. Use them only when absolutely needed.

Also if credit card fraud happens to you--and I sure hope it doesn't--get in touch with the one of the three credit bureaus—Experian, Equifax, and TransUnion—ASAP, and request for a fraud alert. A fraud alert helps stop the culprit from striking again. You don't need to contact all three bureaus. The credit bureau that you contact, as far as I know, is obliged to advise the two other agencies about what happened.

oh this is really interesting to know. But how can theives gain access to my information?

There are a number of ways that thieves can steal one's identity:

1. Looking over your shoulder while you're in the ATM queue.
2. Over the internet, through websites that sell information (such as your full name, SSN, mother's maiden name, and date of birth)
3. Dumpster diving, or scouring thru trash to obtain bank statements, utility bills, and the like

There are a host of other ways, and it really does help to be extra careful to safeguard your information and belongings, to prevent credit card fraud.

Never give out your Social Security number to anyone unless it is absolutely necessary. Employers and banks may need this information for wage and tax reporting purposes. Potential lenders and other businesses may also need to obtain this information to do credit checks, especially if you are in need of a loan, are signing up for utilities, and are renting an apartment. If someone is requesting for your SSN, probe for information as to why they need to obtain the data. Ask why they need the information, and if any other alternatives would suffice in the event that you do not permit to share it. Once you receive satisfactory answers from the individual, you may gauge whether or not to provide them with the needed information. At the end of the day, the decision is yours; don't allow them to bully you into sharing it with them.