We all use credit cards, and many of us use them daily. We use them at local businesses, online and over the phone. With credit cards being used in so many different places, thieves have many opportunities to steal information. One of the biggest fears of credit card users is that their accounts will be compromised. In the event that your card is stolen, it is important to know exactly what to do to prevent significant financial loss. Here are some tips to keep in mind.
For example, if your credit card is ever stolen, one of the first things you should do is to call your credit card company and let them know what has happened. To make this as easy as possible, store the phone number of them company in a place that you can quickly find it. It is important to call them as soon as you realize your card has been stolen. They can deactivate your card so that the thief cannot use it. Usually, you will not have to pay for fraudulent charges made on your card.
Call the credit reporting agencies: Alert these companies of the theft so that they can put a fraud alert on your account. This prevents the thieves from opening any new accounts in your name. Two of the major national credit-reporting agencies are TransUnion ( 1-800-680-7289) and Equifax (1-800-525-6285).
Documenting the status of your credit is also important. Each of the major credit bureaus will give you one free copy of your credit report each year. but if there is a fraud alert on your account, they may give you an additional copy free, even if you have already requested your free copy for the year. It is important to have proof of your credit standing before the fraudulent activity has been reported.
And even though it may seem like a lot of work, filing a full identity theft report is a wise thing to do. The first part of these two part report can be filled out by going to your local police station. The second part will probably need to be filled out with a consumer reporting agency.
Your credit card information may never be stolen. But if it is, you will be glad you have taken the time to educate yourself on the smartest course of action to take. It is good to be prepared!
For example, if your credit card is ever stolen, one of the first things you should do is to call your credit card company and let them know what has happened. To make this as easy as possible, store the phone number of them company in a place that you can quickly find it. It is important to call them as soon as you realize your card has been stolen. They can deactivate your card so that the thief cannot use it. Usually, you will not have to pay for fraudulent charges made on your card.
Call the credit reporting agencies: Alert these companies of the theft so that they can put a fraud alert on your account. This prevents the thieves from opening any new accounts in your name. Two of the major national credit-reporting agencies are TransUnion ( 1-800-680-7289) and Equifax (1-800-525-6285).
Documenting the status of your credit is also important. Each of the major credit bureaus will give you one free copy of your credit report each year. but if there is a fraud alert on your account, they may give you an additional copy free, even if you have already requested your free copy for the year. It is important to have proof of your credit standing before the fraudulent activity has been reported.
And even though it may seem like a lot of work, filing a full identity theft report is a wise thing to do. The first part of these two part report can be filled out by going to your local police station. The second part will probably need to be filled out with a consumer reporting agency.
Your credit card information may never be stolen. But if it is, you will be glad you have taken the time to educate yourself on the smartest course of action to take. It is good to be prepared!
About the Author:
About the author: Mark Mahaffey is a security expert who can teach you how to keep yourself and your family safe from crime. To learn more about credit card security as well as home and business security in San Diego, contact him.
