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So you’re a heavy credit card user — and that’s OK. The thing is, you should be aware of how that raises your risk — if you’re not careful.
Thieves can access your credit card information and make numerous fraudulent charges on your account. But it doesn’t have to be that way.
This article will show you how you can safeguard yourself against being victimized by credit card fraud. But first, let’s go over everything you need to know.
Credit card fraud is when someone accesses your credit card, the numbers on your card or your PIN and is able to make unauthorized charges to your account.
Credit card fraud is a felony offense that can result in real jail time for thieves who are caught.
Now let’s go over some ways you can safeguard your credit card information.
Make sure you’re always aware of who has your credit card. When you give it to a cashier or salesperson to pay for an item, make sure they give it back.
Don’t give anyone access to your credit card numbers. Don’t make it easy for someone to photograph the front or back of your bank card.
Another way to prevent fraudulent charges is to avoid websites that look suspicious. If you find an item you really want to buy on a website you haven’t heard of before, do some research first.
See if the site is legit by doing the following:
If you happen to fall victim to credit card fraud, you need to report it to your bank or credit card company as soon as possible. If you don’t you could be on the hook for the charges incurred.
According to the Federal Trade Commission, here is the timetable for reporting credit card fraud and who pays if you wait in reporting it.
| If you report: | Your maximum loss: |
| Before any unauthorized charges are made. | $0 |
| Within 2 business days after you learn about the loss or theft. | $50 |
| More than 2 business days after you learn about the loss or theft, but less than 60 calendar days after your statement is sent to you, | $500 |
| More than 60 calendar days after your statement is sent to you. | All the money taken from your ATM/debit card acount, and possibly more; for example, money in accounts linked to your debit account. |
The key to beating fraudulent charges on your account is to act fast when you notice sketchy charges on your credit card account.
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