SEARCH CREDIT RECORDS
How to Protect yourself from Credit Card Fraud.
Credit and charge card fraud costs cardholders and issuers hundreds of millions of
dollars each year. While theft is the most obvious form of fraud, it can occur in
other ways. For example, someone may use your card number without your
knowledge.
Most of think it won't happen to us and therefore treat this issue casually. here are
just a few tips and common sense ways to make yourself aware of the issues
involved with it and start protecting yourself.
1. Check your credit reports regularly. Contact both credit reporting agencies—
TransUnion and Equifax—and order a copy of your credit report. That way you’ll
catch any unauthorized activity that has gone on in your name. Ideally you should
be monitoring your credit file 24/7. A service like Identity Guard CreditProtect (www.
identityguard.ca) can continuously monitor your credit file at both agencies for a
small monthly fee. The service will notify you of any activity that indicates possible
fraud. Even if nothing suspicious occurs, they will send you monthly confirmations
to give you peace of mind.
2. Don’t wait a whole month for your credit-card statement to arrive in the mail. Go online during the month and check your bank and credit-card
statements. That way you can catch any unauthorized transactions and can notify your financial institution right away. Note the date and time you
called your bank, and the name of the person you spoke to. You will get your money back.
3. Beware of Internet “phishing” scams. Many people have been receiving e-mails designed to look like they’re from a real bank or credit-card
issuer. They request personal information from you because they say there’s been a security breach of some kind. There may even be a hot link
to what looks like a prominent financial institution’s web site. A legitimate credit-card company, however, would never e-mail you or even call you
to ask you for your credit card number, password or other personal information.
4. Never carry your social insurance number with you. That way, if your wallet gets lost or stolen, it limits the amount of information a crook can
get and reduces his chances of successfully applying for a credit card or loan in your name. You should never need to give your social insurance
number to a store clerk, according to privacy regulations.
5. Shred all financial statements before tossing them out. Tear bank and credit-card statements, ATM slips and credit-card offers into tiny pieces
to lessen your risk of personal information falling into the wrong hands.
6. Know that you’ve got huge protection from your credit-card company. Call the number on the back of your credit card immediately if you find
unauthorized charges on your account. They will credit your account for those charges.
