Avoid credit card fraud

Credit card fraud costs cardholders and issuers hundreds of millions of dollars each year. Some credit card companies are displaying a photograph of the cardholder so criminals can’t make face-to-face purchases with a stolen credit card.

Tips to prevent credit card fraud

• Don’t carry credit cards in a wallet. In a purse, carry them in a zippered compartment. Men can carry them in a business card holder.
• When checking out at store registers, shield the credit card from people around you.  Someone might be looking over your shoulder to copy your number.
• During credit card transactions, keep the card in your sight and get it back as quickly as possible.
• Destroy the carbons that come with your credit card receipt. These carbons can reveal your
credit card number to anyone who finds them.
• Save credit card receipts to compare with billing statements.
• Open credit card billing statements promptly and reconcile accounts monthly, just as you would your checking account.
• Don’t write your PIN (personal identification number) on your credit card. Doing so could aid a
thief to “borrow” large amounts of cash with your card.
• Don’t carry more credit or debit cards than you absolutely have to.
• Always total your charge slip before signing the credit card receipt. Don’t leave blank spaces where an additional amount could be added. Draw a line through blank spaces.
• Never lend your credit cards to anyone.
• Notify credit card companies in advance of any change of address.
• Don’t leave credit cards or receipts lying around unattended.
• Don’t give your credit card number to a telemarketer unless you are sure he or she represents a reputable company. If you have questions about a company, contact your local consumer protection office or Better Business Bureau.
• Never write your account number on a post card or on the outside of an envelope.

If you lose your credit or charge cards or if you realize they have been lost or stolen, immediately call the issuer(s). Many companies have toll-free numbers and a 24-hour service to deal with such emergencies.

By law, once you report the loss or theft, you have no further responsibility for unauthorized charges. In any event, your maximum liability under federal law in $50 per card. If you suspect fraud, you may be asked to sign a statement that you did not make the purchases(s) in question.

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