Reports that millions of credit card numbers may have been compromised recently are a timely reminder that consumers need to stay on top of their credit card accounts, Better Business Bureau of Southern Arizona advises.
“Most of us depend on being able to use credit cards for everyday purchases,” said Kim States, BBB President. “When identity thieves strike, we may feel powerless, but there are steps we all can take to safeguard our accounts.”
Normally, credit card issuers will notify customers if their accounts have been compromised. The issuer may send you a new card and freeze the old account. Some companies will offer fraud monitoring services for a limited period of time. If they do, find out whether the service will result in a charge to your account and how you can cancel the service it you don’t want to keep paying for it.
Although most credit card companies don’t charge cardholders for fraudulent charges on their accounts, customers need to check their accounts for potential fraud not detected by a card issuer’s computers. You should look at transactions on the account regularly to make sure you actually made the purchases listed. Report any discrepancies immediately.
Most card issuers allow cardholders to check their accounts online. Some ID theft experts recommend that consumers switch to electronic delivery of credit card statements, especially if your mailbox isn’t secure. This prevents thieves from stealing your mail to commit ID theft. If you get mailed statements, go over them regularly to determine that all the charges are legitimate.
Another important step is checking your credit report on a regular basis. If you see accounts there that you didn’t open, contact the issuer to report potential fraud. You may want to consider getting a “credit freeze” that will prevent the opening of new accounts.
Many advertisements on television or online claim to offer “free credit reports,” “free credit scores” or “free credit monitoring.” Often, the service is free only if you sign up for another service that isn’t free. In some cases, the advertisers may be attempting to steal your identity or sign you up for something that results in a monthly fee charged to a credit card. Beware of links in unsolicited emails that ask for personal information or account numbers.
The only way to get a truly free copy of a credit report is by using a service sponsored by the three nationwide credit reporting agencies – Experian, Equifax and Transunion. The service is available at AnnualCreditReport.com or by calling 1-877-322-8228. Consumers also may go to the website and download a request form that can be mailed to an address in Atlanta. Mailed reports normally arrive within two or three weeks.
Other tips that can help safeguard your accounts
- Review receipts at stores before you sign them. Make sure the amounts jive with what you are purchasing.
- Keep copies of ATM and sales receipts for your records and compare them with your monthly statements. Call the credit card company if you find a discrepancy. If fraud is involved, consider filing a police report.
- Be aware of your surroundings when using your card. Could someone be looking over your (more…)