Credit Card Fraud: An Idiots Guide To Prevention
Modern society has created a monster known as credit card fraud. With the considerable use of credit cards, the world has become a playground for the common credit larcenist. But, if you educate yourself on the issue at hand, and learn the steps to take, you can combat this momentous problem.
Some credit card perpetrators have started combing through garbage cans searching for your credit card data. If they discover credit card receipts or credit card account statements, they are in luck. The thieves then use the credit card numbers to purchase items on the internet. Some even produce a new credit card using your account number and all of your credit information.
This type of credit card fraud can easily be prevented. Before you throw any credit card receipts or statements containing your account number away, make sure they are completely destroyed. This will assure that your credit card information can never be discovered and reused.
Checking your credit report and credit card statements monthly can ensure that no unauthorized charges have been made to any of your credit card accounts. If you come across something curious in one of your credit accounts, you should act at once.
Call the credit card company immediately and report that someone has stolen your credit card or credit card number, and you would like this card canceled without delay. Invalidating the card will assure that no further charges can be made to your account and no additional financial damage can be done to your credit.
Your credit cards should be with you at all times for safe keeping. While most people carry their cards in wallets, it is actually better to carry them in a separate compartment. An example would be a small container, a mini pouch or a business card holder.
Always stay alert with each credit card transaction you make. Be sure to get your card back immediately after the purchase is completed. Not all credit thieves are after your actual credit card; most just want your credit card account number to finance their illicit business deals.
Credit card fraud has become quite abundant on the internet. There are several things you should avoid when using a card online. Never enter your credit card number on websites that are hyperlinked through an email. This screams fraud. This will most likely lead you to a scam site created to steal your credit card information.
You should be very cautious when giving your credit card number to online companies. If at all possible, try to only supply your number when only critical. If you do need to make a purchase online, there a payment services now offered that permit you to purchase an item without having to give your credit card information to an unauthorized third party.
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Understanding Credit Counseling Services
Credit counseling services have helped millions of people break the debt cycle. If you’re considering counseling, review these frequently asked questions to learn more about the credit industry and its practices.
Most are considered tax-exempt non-profit organizations, however not all of them are. Before you sign up with a service, verify that it’s not more interested in turning a profit than it is in helping you. Start by checking them out at the Department of Justice’s bankruptcy website and the Better Business Bureau. Remember, being non-profit doesn’t automatically make them legitimate.
For the most part, they can help you resolve any debt situation, but the various options aren’t available for all debts. Mortgages and student loans usually can’t be settled or entered into debt management programs. Student loans can be consolidated, however. You may also be able to reduce car loan interest through debt consolidation. Medical bills and credit card bills are the easiest for credit counselors to deal with.
Most services are actually funded by contributions they receive from creditors. Many also receive a portion of the funds you pay into a debt management program. Review the organization’s website for a complete disclosure of their funding sources. If you can’t find one and they won’t provide the information to you, consider using a different service.
Fees vary, depending on the services you need. The initial consultation should cost no more than $50. If you can’t afford to pay, many will provide some services for free. A debt management program often includes a one-time setup fee or a monthly maintenance fee. Debt settlement frequently includes high fees. Debt consolidation may involve a smaller fee, or you could attempt to consolidate on your own. Educational materials are often available free. Money management courses may be free or offered for a small fee.
They must be licensed to operate in your state. Most are also certified to provide credit counseling. Before signing up with a service, ask if they’re licensed in your state and if certifications are current.
How Do I Know If I’m Being Scammed?
The fear of being scammed is one factor that keeps many people away from credit counseling. Most services are completely reputable and interested in helping you. As with any industry, there are a few bad apples, though. You may be dealing with a scammer if they:
* refuse to send you any information before you meet with them
* refuse to provide a written list of fees
* pressure you to sign-up that day or risk losing their great offer
* recommend a debt management plan before reviewing your finances
* offer to settle debts for pennies on the dollar
* offer to repair your credit for a fee
* recommend that you stop paying on your debts
* say they can cancel student loans or secured debts like mortgages
* don’t provide budgeting or money management education.
Although it’s important to choose a credit counseling service carefully, you shouldn’t let fear or shame keep you from calling them. A good credit counseling service can help you resolve your debts and learn how to avoid creating new debt. If you’re not sure how to tackle your debts, contact a service for more information about your options.
For more articles on Credit Counseling, visit: http://www.bills.com/credit-counseling-services/
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Banks. Another Possible Scam
On October 31, 2008, I received two messages within a couple hours of each other from two banks. The first message was from a so-called “First National Bank of DeRidder, Louisiana” asking to do a survey and it would credit $99.99 into my account. Of Course, it would not immediate tell me to what account credit would be applied. So, I did the survey using fatuitous name and info. along with a police departments phone number and YES, here it was, the next page asked me for my CREDIT CARD number. How sweet you may say. REALLY??!! Continue reading below.At about 11:10AM, I received the second message from Clarkston State Bank, which would not provide a location address. The phone numbers to this site was a third party numbers for reporting lost or stolen credit or debt cards. However, even when I found the number and contacted the company, the out-going message only gave the street address and not a city, state, or zip. Odd! Clarkston State Bank message is:“Important Message Alert on E Mail Phishing ScamWe have received reports of an email circulating around the internet requesting the recipients to visit a link in the email and complete a survey. This link brings you to a fraudulent website that looks very similar to the Clarkston State Bank website. The survey requests the recipient's card account number and PIN in order to deposit $99.99 to the account for completing the survey. If you received this email solicitation and inadvertently provided your card information for this survey through the website, please take the necessary steps to cancel your card and report any unauthorized usage of the card to your Bank.”BACK TO MY INFORMATION TO YOU:This is my problem with both banks. The first bank is definitely scamming. Its website address is generated through “ucla.edu” (either University of Central Louisiana or the actual UCLA in CA (not sure which one). The second bank does not leave much room to be desired, since:
1. The first bank’s website does NOT look anything like the second bank’s site (as Clarkston Bank stated).
2. A reputable business (especially a bank) would provide phone number and an address. None exists on this bank’s main page or any other pages for that matter.
3. The “Contact US” provides a phone number; however, no one answers. This page of the site requires you to place your personal information so that the bank representative would contact you (possibly through email). ODD!In my opinion this is not professionalism and I don’t know if I would trust this bank either. Please share your stories and experiences with me through my website which is displayed in the “about Author” or “Author’s Bio” or through email at Author@MasterCreditRepair.net. If my bio is not displayed with the article, please search me through search engines and tell me your thoughts and experiences. Go to our website and join the membership…With best wishes, thanks and love;Mike Samadi
For over 12 years he has been assisting consumers with their creditor, merchant and government agencies issues. When people were consumed and troubled by issues for a year or more- he, in a few hours or a day would solve most (if not all) their difficulties.
His believes in: "More Lost by Indecision than by Bad Decision", "Knowledge is wealth", "Ask and you shall receive" among others.
He had been college professor for years and is continually pursuing motivation speaking.
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