Credit Card Tutorials

Credit Card Fraud

Deciding its time to buy a new vehicle you set off to the car dealership in search of that new car you’ve been dreaming of getting for last year. Once you have everything picked out, down to the sound system and DVD player, you and the sales person go to sit down to do all the paperwork. That’s when it happens, you get the bad news. Your credit score is way too low and you’ve been turned down. The sales associate goes over the reasons with you, stating that there have been many large purchases made in your name and non of them were ever paid for.  You have no idea what the sales associate is talking about, you haven’t made any large purchases in at least a year and half. After talking with the associate and arguing over your credit and the purchases you didn’t make, you leave furious and without a clue.

This is common among American’s, as credit card fraud occurs every 5-10 seconds, and it happens to someone just like you. You have excellent credit, have never made a payment late and suddenly you’ve been declined at a car dealership, or to buy furniture, a house maybe, or even get a new credit card.

No one knows when they will be a victim of credit card fraud, or why it happens to them. But just like with Identity theft, the same rules apply to try and fix what has been corrupted. In some cases, the damage can’t be reversed. In others, it can take years before it’s finally set right. The FBI works very hard to track down the criminals who prey on people that they can steal from and take advantage of. Many criminals are actually repeat offenders who the FBI have been tracking and watching, while others, the FBI tries to track for years without a single lead.

The best way to protect yourself against credit card fraud is to always keep a check on your statements. Keep an eye on what you’ve purchased; keep a file with receipts of your purchases that will coincide with your statements. If something falls out of line with your records, you will notice it so that you can immediately report it to your credit card company and they can’t investigate the transactions accordingly. This is the best way to keep yourself protected should the unthinkable happen to you.