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[C539]Check Your Credit Card

by Joseph Kenny, Jos

Identity theft is where someone gets hold of information that can identify you, such as a credit or debit card, passport or driver's licence, and uses that to create a new identity for himself or herself. The person may also use those details to buy goods or services which you may find on your credit card statement.

How Fraudsters Get Your Details

Identity fraudsters have a number of methods for getting hold of people's personal details. A simple one is to rummage through someone's rubbish, looking for old receipts they have thrown away. This can be a simple way of getting hold of a credit card number.

Identity fraudsters can also steal your mail or redirect it to a different address, so that letters addressed to you go somewhere else, and your information goes with them.

Another method of gaining personal information is by stealing a wallet or purse with debit and credit cards, perhaps a driving licence and old receipts. And a house burglary will yield even more rewards for fraudsters with even more information lying around for the taking.

Fraudsters have also gone high tech and use computer hacking and 'skimming' machines to get hold of information. 'Skimming' allows fraudsters to copy credit card details from the ATM and clone your credit card in a couple of minutes.

Identity Theft Checklist

If you think you might be a victim of identity theft, ask yourself the following questions:
?Has someone been rummaging through your rubbish?
?Have you had less mail than usual recently?
?Have you had a bill or receipt for something you know you haven't ordered?
?Are you getting invoices from people you don't usually deal with?
?Are debt collectors or solicitors chasing you for money you know you don't owe?
?Have you been turned down for credit in spite of a spotless record?

If you have answered yes to any of these, then you might be a victim of identity theft and it's time to inform the relevant authorities. Here are some tips for avoiding being a victim.

Identity Fraud Prevention Tips

Security should be your watchword in protecting against identity fraud. That means that you never reveal PINs or passwords. You should also invest in a shredder to completely destroy unwanted till receipts, ATM receipts or anything else that has personal information. Anything you do want to keep should be stored securely in either a safety deposit box or a locked drawer or cabinet.

Redirect your mail if you move and check to make sure that no-one else has redirected it for you. Let banks and credit card companies know as well. Finally, get a copy of your credit file from one of the credit reference agencies. This is a good way of checking whether someone has applied for credit in your name.

Every year, the cost of credit card fraud comes to billions of dollars. While this may seem like a large amount, numerous organizations report that crimes related to credit cards are one the rise. The increased use of the Internet has opened additional opportunities for thieves to access your account. And more people are using credit cards, which gives criminals more chances to steal valuable information.

Rather than getting alarmed, you can take certain measures to protect yourself from credit card fraud. For starters, it's important to have a solid understanding of identity theft and how it occurs. Read on for information about these crimes, and to learn what you can do to minimize the risk of identity fraud.

How it Happens

Credit card fraud can be carried out in a number of ways. One of the most traditional methods is to simply steal a card holder's credit card. If a criminal does this, he or she can quickly gain valuable information such as your name, account number, and verification number. After stealing the piece of plastic, many thieves look for ways to make unauthorized transactions.

Another form of credit card fraud, or identity theft, occurs when a thief gains access to some of your personal information and then uses it to his or her advantage. A criminal may rummage through your garbage and steal receipts that contain your name and account number on them. When you check out at a store, the clerk may make a copy of your card. In these cases, the person may use the stolen information to create a counterfeit card or make purchases through the Internet.

Application fraud takes place when a thief opens a new account in your name. The person will first steal information regarding your identity, such as your name, address, account numbers and social security number. Then the thief begins to make purchases and rack up bills on your behalf. You may not know that it has happened until the payment notices begin showing up at your door.

How to Protect Yourself

It may be frightening to think of other people stealing your identity, and making unauthorized purchases with your personal information. While fraud will most likely always be a problem, there are certain measures you can take to reduce the risks of it happening to you. To start with, keep careful track of your cards and accounts. Check your statements each month, and look to see if there are any purchases listed that you did not make.

Before you buy an item through the Internet, check to see if the website looks secure. If the site uses SSL technology, or shows a small padlock on the screen, there is probably little need to worry. If you do not feel that the site is safe, however, avoid using it.

Along the same lines, if you regularly access your bank and credit card accounts online, do not share your passwords with others. Only use computers that are secure, and not publicly shared, to look at your online statements. When you are finished, be careful to log out and close the browser window before you do anything else online.

To minimize your risks, you can also keep credit cards in a safe place. Don't carry them all in your wallet if you are not going to use them. When you get a new card, sign it and activate it right away. When you cancel an account, cut up the card before throwing it away.

If you notice that your card has been lost or stolen, call the appropriate bank or company right away. They will be able to cancel the account, and will not charge you more than $50 for the fraudulent activity. Similarly, if you even suspect that someone may have accessed your account without your permission, call the card company and tell them about the situation. The representatives will be eager to help you and keep your information safe.

Check your Credit

While there are many ways to avoid credit card fraud, perhaps the best approach is to check your credit card accounts regularly. If you ask for a report of your recent transactions, you can look at any suspicious activity and notify the authorities immediately. You can also request a credit report, and look it over to see if there are any errors or unauthorized actions on it.

If identity theft does happen to you, consider it a learning experience. Many times it is unavoidable, and is simply a case of reporting the activity and getting a new card. Work hard to keep track of your accounts and to protect yourself. By doing so, you'll reduce your risks substantially. And you can even offer advice to others on ways to avoid identity fraud.

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About Author

Both Joseph Kenny & Stephanie Andrews are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Joseph Kenny has sinced written about articles on various topics from Credit Cards, Debt Consolidation and Credit Cards. Joe Kenny writes for the Credit Card Guide, offering views on in the UK, visit them today for some great. Joseph Kenny's top article generates over 550000 views. to your Favourites.

Stephanie Andrews has sinced written about articles on various topics from Credit Cards, Mastercard Credit Card and Credit Cards. Click here to find Stephanie Andrews is a contributing editor of the website http://www.CreditCardCity.com , a credit card directory where yo. Stephanie Andrews's top article generates over 40500 views. to your Favourites.