Warning – Credit Card Scams With Telephone Calls

This is a scam you receive a phone call or an e-mail that lets you know that you’re entitled to thousands of dollars as part of a credit card class-action lawsuit settlement. In order to be a part of the settlement you are required to first pay your taxes or legal fee on your portion of the money. It will require you to mail or wire the money to such an account. The fact is that once you wire or send the money you never receive a settlement and your money is lost.

Though class-action lawsuits themselves are legitimate and do happen, a class action lawsuit scam can be recognized beforehand.

Class-action members are seldom called about a settlement. You’re more likely to be contacted by mail and received an official letter from the creditor.

Settlement amounts are typically low and not in thousands of dollars since our class-action lawsuit involves hundreds and thousands of plaintiffs.

You will not be asked to pay any fee to receive a settlement in a genuine class-action lawsuit.

You can always check the information online. If there is a class-action lawsuit against the major credit or a company the odds are that it has been covered in the new somewhere. If you cannot find the information anywhere it is probably a scam.

If you receive such a call or notification do not send any money the matter how legal or legitimate it sounds. Instead try and get as much information as you can and what to call to the federal Trade Commission and your state’s attorney general’s office.

Preventing Loss of Credit Card and Credit Card Information

The best way to prevent your credit card for your credit card information from being stolen is to keep tabs on the whereabouts of your credit card. You should put away the extra credit cards that you do not use regularly safely in a cupboard or a safe. Whenever you go up shopping only carry the credit cards that you’re going to use.

Always carry the credit cards safely in a wallet or a special credit card holder. Do not simply put them away in your pocket as they can easily be lost or damaged.

Use a wallet that has special slots meant for keeping credit cards. If the pockets in your credit cards have become old, worn out or lose consider purchasing a new wallet or purse that will hold your credit cards more securely.

Record the numbers and contact information for your credit card issuer and keep it away somewhere safely and where you can easily access it. This information will come in handy in reporting lost credit card if it gets stolen. Do not rely on the information or the credit card issuer number present on the back of the card since you will not be able to access it if you choose a credit card. The quicker and easier you’re able to use your credit card in case it is lost, the more quickly you’ll be able to prevent any fraudulent activity happening on your card and reduce your liability on such transactions.

Your Liability On Fraud Transactions On Credit Card

The FCBA is a federal law that lays down your liability for fraudulent charges when your credit card is lost or stolen. The maximum amount that you can be held liable for fraudulent transactions made on your credit card when it is stolen is $50. For fraudulent transactions that are made on your credit card due to stolen credit card information while a credit card is still in your possession is zero dollars. If the fraudulent transactions are made after you have reported the credit card as stolen in your liability is zero dollars.

Different credit card issuers have different kinds of protection plans that cover you for a certain amount of money. Check under your terms and conditions or with the creditor the kind of protection plans that is offered on your credit card. It is not necessary that a fraudulent transaction will appear immediately after the credit card is stolen. If the credit card all the information on your credit card is compromised check your credit card bills regularly for the next few months to see if any suspicious activity occurs.

Many companies make it difficult for credit card fraud to happen by using verification methods, specially for online transactions. For example, MasterCard uses a program called Secure Code Protect that requires the credit card owner to set a password and input this password for most of the online transactions that are done using the credit card. Just the card number is not sufficient to make the transaction.

What to Do When Your Credit Card Is Stolen Or Lost

Here are some of the few steps as you should immediately take if your credit card is stolen or lost. A stolen credit card has the potential of doing a heart of damage since fraudulent transactions of high-value can be made using that information. Although you are not usually liable for more than $50 on fraudulent transactions made on a stolen credit card, it can still be a big inconvenience.

Reporting Lost Credit Card

The very first thing that you need to do is report your missing credit card to the credit card company. Make sure that you have put down the number of the customer care service for your credit card somewhere very can easily and quickly access it. Do not rely on the number being present on the back of your card since you will not have that number it edit card goes missing. Have it stored on your mobile and somewhere in a diary at home. You may also be able to go online and report the missing credit card on the website of the credit card issuer. However, it is better to speak to somebody immediately on the phone and follow that conversation with the written letter reporting the loss. You should mention your account number, the date that’s the credit card was stolen or you noticed it was missing and the date and amount of your last purchase if known to you.

How to Avoid a Credit Card Fraud

You can prevent the credit card fraud from happening to you by following simple guidelines. Take a few simple steps to avoid scammers and credit card thieves from stealing information from you.

Keep Your Credit Cards Safe

Whenever you step out of the house carry only the number of credit cards that you are going to be using. Keep them safely in a wallet where they cannot be easily snatched or fall out. Do not keep your credit cards exposed for longer than necessary as these can use a camera or cell phone to take pictures of your credit card. Make sure that you have taken your credit card and put it away safely in your wallet or purse after the transaction.

Shred your Documents and Credit Card Bills

Make it a point to shred documents with sensitive financial information such as account numbers as well as your credit card bills. Do not be careless about closing your credit card bills in the trash without destroying them adequately. It is a simple enough matter petites to steal your personal financial information is by going through the trash.

Do Not Sign Blank Credit Card Receipts

Always verify the amount that your credit card has been charge form. Read the receipt carefully and make sure that is the amount and is the correct one. If you receive a credit card receipt that has blank spaces on it draw through the blank space before putting your signature on the card otherwise it could be possible for someone to fill in those blank spaces with an amount and send the purchase to your credit card issuer.

Do Not Give out Credit Card Information

While it is possible to make several transactions over the phone by giving your credit card number and the security card to the customer care representative you’re speaking to it is generally advisable not to do so. Most of the services that offer to give you services over the telephone using your credit card number such as airline ticket bookings all hotel bookings will also provide you with a website where you can make a single transaction and in a more secure environment. Putting your credit card information on secure websites is a safer thing to do as there is no human element involved. Your request is being that he processed by a secure server and being sent to your credit card issuer. Do not return calls or messages left on your answering machine from someone claiming to be your credit card service provider and asking for a credit card number to verify your account. Do not provide your credit card information to anybody who calls and claims to be calling from your credit card issuer’s office. Credit card thieves are known to use all kinds of tricks such as simulating your caller ID to show that the call is coming from your credit card company. Do not fall for these tricks and make it a rule never to give out your credit card information over the phone or on an e-mail.

Use Your Credit Cards Safely Online

Always use a secure websites to enter your information. Do not access the website by clicking a link in an e-mail. Always check and verify the website by doing a search for it on the better business bureau and a search engine such as Wikipedia.org if you have not heard of before.

Report Lost or Stolen Credit Cards Immediately

always keep the customer care number of a credit card handy so you can immediately report the card as stolen if it goes missing. If you can report a stolen or a missing credit card before any fraudulent transaction has been made on it your liability for fraudulent transaction on it will be zero dollars. In case you happen to report it after a fraudulent transaction has been made you can be held liable for up to $50 and no more. Write down your credit card customer care services number somewhere handy where you can access it easily.

Also contact your creditor immediately if you feel that you have some way compromised your credit card information either on a website, over the telephone or during a transaction. The credit card provider may be able to issue you a new credit card number immediately so that the stolen and compromised information cannot be fraudulent used.

Review Your Credit Card Statements Carefully

Check your credit card monthly statement carefully to detect any and natural and unusual activity. Sporting a fraud or unauthorized charges as quickly as possible will prevent serious damage being done.

How To Keep Credit Card Information Safe When Shopping Online

In my opinion using a credit card online can be safer than using it in stores, gas stations and restaurants. But this only holds true if you are a little careful about how you use your card and follow some simple guidelines.

Use your credit card only on secure websites

This is probably the number one rule of using a credit card online. Whenever you are in putting your credit card number on a website make sure that the address of the website in the browser window starts with an HTTPS rather than a plain HTTP.

Shop and use your credit card at sites that are well-known. Be a little less inclined to use your credit card on websites that have no reference from search engines, other websites etc. These websites may be fake website set up to steal your credit card information.

Do not use your credit card from an Internet cafe Or a Public Location

Try and use your credit card only from a personal computer. It is possible that your secured credit card information may get compromise at an Internet cafe or a public computer as it may be infected with the virus or a key logging software which will record your keystrokes and steal your credit card number and other information.

Check the References of the Website

If you are going to use your credit card on a websites that you haven’t heard about earlier, you can check the references of the website from The Better Business Bureau or by doing a simple Google search and finding out other references about the company such as Wikipedia.org.

Use a Credit Card Instead of a Debit Card

It is advisable that you use a credit card online rather than a debit card. Most of the people may feel more secure using a debit card but this sense of security is false. The rules and regulations that govern the transactions on the credit card are more flexible and beneficial to the consumer when it comes to fraudulent transactions. With a credit card your maximum liability for fraudulent charges is $50 whereas in case of a debit card it can be as high as $500. Since debit cards are linked to savings or checking account, you risk losing all the money in your account if your debit card information is compromised. The credit card is limited by the credit limit. Fraudulent transaction from a debit card results in money being taken out of your account immediately. It could take a very long time to recover this money whereas in the case of a credit card nothing gets withdrawn from your savings account immediately and you may not have to make any payments towards the fraudulent transactions at all.

Save a Confirmation of Payment

Whenever you make a payment online you will usually offered the choice of saving or printing out the payment receipt. Always do this purpose of future reference. In case the transaction does not happen you do not receive the services of the goods that you offer you can always ask your credit card company or the bank to retract the transaction.

Avoid Fraud Emails That Steal Your Credit Card Information

Just as you have been advised in the previous post not to give out sensitive information like credit card numbers over the telephone, the same applies to emails. Do not respond to any email that asks you to provide credit card numbers etc. for the purpose of account verification etc.

A credit card email scam will ask you to respond with your credit card number, security code or security code for the purpose of account verification, updating or any other official sounding purpose. Do not be fooled and do not fall for it. Letters and emails from banks and creditors always mention that they will NEVER ask you for any information on the phone or email. So you can presume that an email that does ask for this kind of information is not coming from an official and legitimate source. You should also never click on a link in an e-mail that is supposed to lead to your official creditor’s website. These kinds of links will mostly take you to a lookalike phishing Website. The website will look exactly the same as the creditor’s website and will steal your information as you in put it in the online forms. One of the biggest tell-tale signs of a fake website is that it will begin with an HTTP:// rather than a secure website that begins with an HTTPS://. Most of the websites of banks and well-known credit card companies are secure websites that begin with an HTTPS://.

If you do need to check your creditor’s website ALWAYS type in the correct website address in the browser yourself.

If you have mistakenly entered your personal information on a scammer’s website you should immediately the website and change your login information by visiting the real website. You should change password login and information and any other information that you feel has been compromised. Let your creditor know that you have accidentally entered your information into a scammer’s website. You may be asked to provide a copy of the email and the link address where you have entered your information.

Watch your credit card statements carefully. Notify the creditor of any transactions that you did not make. According to the Federal Law, you cannot be held liable for any transactions that you did not make which resulted from stolen credit card information, while the credit card is still in your possession.

Stop Fraud Telephone Calls That Steal Credit Card Information

A telephone credit card scam works in a relatively simple manner. A person calls you on the telephone pretending to be a representative from your credit card company. They may ask you to provide them with sensitive personal information such as social security number, credit card number, credit card security code etc. in order to verify your account information. If you do happen to give out this information they will use it to make fraudulent transactions or create new accounts in your name. Credit card telephone scammers sometimes get you to call them back by leaving the number on your answering machine or in an e-mail.

You can avoid a credit card telephone scam just as easily. Never ever give out sensitive information on a telephone call that you have received. Scammers can even spoof your caller ID and have your creditor’s name show up. Only give out your information when you have initiated the call yourself to call after of issuer customer care number of your credit card from your billing statement or other official document. Do not respond to messages left on your answering machine or in an e-mail.

If you have by mistake given out sensitive information on the telephone when you shouldn’t have you should immediately alert your creditor. You may be given a new credit card number in order to prevent fraudulent charges being made on your existing credit card. After this incident has happened check your credit account and credit report carefully for any suspicious activity. You can place a temporary preliminary security alert on your credit report which will last for a period of 90 days.

Placing a security freeze for a fraud alert on your credit report will discourage new fraudulent accounts being opened. Monitor your credit report carefully and dispute any accounts of transactions that do not belong to you.

How to Report Card Credit Card Skimming Incident

In most of the cases you will not be aware of your credit card having been skimmed till the time that you see fraudulent transactions on your credit card. But the time that you notice these transactions it may be hard for you to accurately pinpoint the incident when your credit card could have been skimmed. The first thing that you should do is to inform your creditors that transactions on your credit card bill are fraudulent transactions. You should follow up your call to the creditor with an application send in writing. Your liability for fraudulent transactions that have been made using the credit card information while the credit card is still in your possession is null. You cannot be held liable for charges that have been made due to credit card skimming.

Next thing you must do is to inform the credit bureaus and place a security alert on your credit report. You can either replace a preliminary security alert if you suspect that your credit card information has been stolen but no fraudulent transaction has occurred. You can place an extended security alert if you have already become a victim of identity theft through credit card skimming or any other method. The initial security alert lasts for a period of 90 days whereas the extended security alert stays on for a period of seven years. You will be required to send a request in writing to the credit bureaus. Placing a security alert will make it mandatory for businesses to confirm the identity of the individual before approving a credit application.

You should also alert The Federal Trade Commission as they often work to break up large credit card skimming rings and your complaint may help them catch the thieves.

Avoid and Detect Credit Card Skimming

In order to avoid credit card skimming the number one practice that you should adopt is to never let your credit card or debit card out of your site. Credit card skimming incidents can be difficult to spot in the time that you actually notice fraudulent transactions on your credit card bill. For this reason it is important to monitor your checking and credit accounts on a regular basis and report any an authorized transaction suspicious activity.

Be especially careful in places where your credit card is going to be out of your sight even for a short period of time such as gas stations, restaurants, bars etc. These are the places where credit card skimming happens the most because the consumer feels secure in putting his credit card in the hands of another person and letting it out of his sight, even if for a short while.

Be careful at ATM machines. Sometimes thieves put a camera near the keypad of the ATM machine in order to record the pin number. They may also put a false keypad on top of the ATM machine keypad in order to record your keystrokes. Check if there is a strange looking device attached on the side or under the ATM machine close to the slot where you swipe your ATM card. If the keypad of the ATM fee is particularly hard to press walk away and use another ATM machine.

You can also do a search on a search engine and get familiar with how credit card skimming machine is like. They can be pretty small and unobtrusive but knowing what one looks like may help you spot one.

There are also scams running where someone promises to clean your credit card by cleaning up the magnetic strip behind the credit card. What they do is swipe your credit card through a skimmer and steel information on your credit card.