Here is a little post about credit card fraud. Basically what i am trying to get through to everyone is that they should check their statement as often as possible. When i say possible i don’t mean calling the credit card line every day just to see if any credit card fraud has happened, i mean literally, when you can…
This is for one simple reason alone. Credit card fraudsters will use your details to make very small purchases. This sounds odd doesn’t it? Particularly if you have a huge credit card limit and a small balance. They do this to test out the card to see if it works, and they use a small amount because it’s less likely to be detected. Sometimes they will continue to just make small regular transactions on your card and slowly bleed you this way, but usually they will hit you with a larger amount once they’ve tried you out a little.
Look out for things like internet purchases because these are the easiest simply because the criminal doesn’t need your credit card if they already have the details. They will more than likely have aquired some of your personal information somehow too, just to ensure that they can get away with a little larger purchase so be careful. And if you get a call from your credit card to query a transaction do not under any circumstance ignore it; call them back straight away and find out what has happened. Your credit card company is trying to look after you.
Tags: credit cards, Fraud, spending limit