Fake Credit Cards Still a Problem

Credit card fraud is a serious problem that most people are aware of — whether by personal experience, or by ongoing news coverage about the issue. But this video from Wired shows the true extent that criminals will go to in order to damage your good name. Although it was shot back in 2008, many of the same tactics used to fake credit cards are still used today:

* VIDEO SOURCE: Poulson, K. “One Hacker’s Audacious Plan to Rule the Black Market in Stolen Credit Cards”. Wired.com, December 12, 2008.

Tips to Improve Card Security

If you’re one of the unlucky people affected by this crime, you know all too well how hard it can be to recover and reestablish your good name. Here are a few tips to keep your credit cards safe and prevent them from falling into the hands of criminals:

  The Credit Card Do’s

• Always sign your credit cards as soon as they arrive.
• Try to carry your credit cards separately from your wallet, in a zippered compartment, a business card holder, or another small pouch.
• Keep a record of your account numbers, their expiration dates, and the phone number and address of each credit card company in a secure place.
• Keep an eye on your credit card during every transaction, and get it back as quickly as possible once complete.
• Destroy carbon copies.
• Save your receipts to compare with billing statements.
• Open bills promptly and reconcile accounts monthly, just as you would your checking account. Or, monitor regularly with online banking or consider credit monitoring.
• Report any questionable charges promptly to your credit card issuer.
• Notify credit card companies in advance of a change in address.

  The Credit Card Dont’s

• Don’t ever lend your credit card(s) to anyone.
• Never leave credit cards or receipts lying around.
• Never sign a blank receipt. When you sign a receipt, draw a line through any blank spaces above the total.
• Never write your account number on a postcard or the outside of an envelope.
• Never gve out your account number over the phone unless you’re making the call to a company you know is reputable. If you have questions about a company, check it out with your local consumer protection office or Better Business Bureau.

Reporting Credit Card Fraud

If you lose your credit or charge card, or realize it’s been lost or stolen, be sure that you immediately contact the credit card issuer and make a report. By law, once you report the loss or theft of a card, you have no further responsibility for any unauthorized purchases made with it — or any fake credit cards produced with it’s number. The maximum liability that you can be responsible for under federal law is $50 per account.

* Be sure to compare credit card offers at ASAPCreditCard.com!