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You can be a credit card fraud victim even if your card has never left your sight. Thieves and hackers have figured out how to help themselves to your money, and you need to minimize the damage if it happens to you. Here are a few tips.

The first thing you need to do is to contact the card issuer. Most have a 24 hour hotline setup just for this purpose. They don’t want strangers spending your money any more than you do! By law, the most you would be responsible for is $50 per credit card, and then you will be responsible for no further unauthorized charges to the account. However, if you lose an ATM or debit card, you could lose everything if you wait too long in contacting the issuer.

Next, you’ll want to contact the authorities. File a report with the police. Make sure to get a copy of the police report for proof of the unauthorized charges. Also file the reports with the Federal Trade Commission.

Contact the three credit reporting bureaus. TransUnion, Experian, and Equifax will place an alert or flag an account signifying possible fraudulent activity. They will contact you before any new lines are opened. You can also ask to have an account frozen; your credit history can’t be reviewed by lenders, and you cannot open any new lines of credit.

Finally, stay on top of everything you have done to this point. It’s very important that you start or continue to keep a close eye on all your credit card statements, bank accounts and credit reports.

Although stolen or lost credit cards remain the biggest source of fraud, online hackers are becoming a very close second. Don’t become a credit card fraud victim. Watch your credit and money closely!

To find out more about what consumer debt solutions may be right for you, visit:
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John Phillips owns and operates http://ccdebtinfo.com

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