This article is about the credit card. You may be looking for articles examining credit cards. If not, then this article is about the credit card.
You see it all the time. The people who bought a house on the street and left a bill in the house days later. The car reputed to him to whom he credited every purchase he made in the storeroom. The one who stole your credit card number when you applied for a job. And now, in the very latest twist of history, there are serious reports of identity theft happening nationwide.
Perhaps Americans need more protection from identity theft in the form of one for every credit card charge through our credit system. At first glance that sounds like a good idea, right? After all, we use our credit cards to make as many purchases as we can ourselves without getting in over our heads in dealing with credit card charges.
Not so fast. Why is this so? Identity theft has been on the rise for years now and people often don’t realise how dangerous it is until they actually use one of our credit cards (or rather, two credit cards). Sometimes – but not nearly as often – these misused cards are stolen or used by people they don’t recognize.
A common misconception is that using one of our credit cards is ‘easier’ than other credit cards, especially if you know how to ‘charge’ bills. This isn’t true. Yes, credit cards are more expensive than they appear because they have ‘perks’ and ‘utilises’ our money. However, these ‘perks’ are often ‘equivalent’ to paying off the balance of your credit card with a debit card, which usually costs more than the principal of the purchase. Perks like ‘perks’ and “mixed costs” are often not useful if you can’t have them as part of your purchase price!
If you’re a victim of identity theft then you should contact your bank or credit card issuer immediately if you do begin to get letters, phone calls and e-mails from the fraud departments about your missed billing, charges, etc. And remember, just because your identity has been stolen doesn’t automatically mean that you’re the target of identity theft attacks. Identity fraud is a rising problem in the UK and the Government is already monitoring the rise in cases of credit card fraud.
A bit of background
Let’s take a closer look at credit and debit cards here, so that all is clear. The general idea is that you only use one or two credit cards (and of course any card; we’ll save that for the last one!) and the rates are usually more expensive (if you pay off your balance) and less expensive (if you pay off the principal). So what’s the catch? Well, there are other uses for these credit cards (such as: making purchases on them and then paying on their principal when circumstances require). For a majority of us this means paying off our principal in full (by electronic means) and for most of us this means keeping out the pressure and buying at the pumps whatever the interest rate is that comes with the bill. It may not be exactly cheap, but it’s certainly cheaper (if you keep the principal paid off at the current interest rate). All in all, identity fraud can be devastating to a group of people and I can only imagine how damaging this kind of fraud really is, so any tips on how to stop them (and now you!) from happening in your lifetime is by no means guaranteed. What we do know though is that whenever we’re hit by fraud, our credit is on the line and we’re taking steps to make sure that they won’t happen again. This article will go over some of the basics of working out exactly what you’ll do when your credit card has been stolen.
Credit Card Fraud: What To Do
There have been a number of credit card frauds to date. One of these credit card frauds was carried out by a person who got hold of his or her own credit card.
You will find one on file at the following address, (make sure the credit card number is correctly entered):
The fraud took place mainly due to the use of identity theft to steal your credit card information in the belief that you used them to make a fraudulent purchase.
As soon as you saw the fraudulent purchase, you would immediately call your own thief, and tell the credit card company what had happened to make them look bad. The credit card fraud should have stopped immediately, but the card processing company acted quickly and used an identity theft technique in getting hold of your own identifying information.
The first thing you will notice is that your own credit card processing company appears to be running a credit card processing fraud alert.