Friday, June 30, 2017

Tips and Tricks – Consequences of Credit Card Fraud



If you have ever found fraudulent purchases on your credit card I hope you are like my father. He not only acted quickly, so did the issuing bank, canceling the card without question.

The next step required contacting several institutions automatically billing that credit card for repeat services. They all needed updated information, a tedious endeavor.

While only diligence will protect our finances, my father thinks he found a fix for the ensuing hassle. Once again he dedicated a single credit card to monthly online bill pay. This time he is keeping that card out of his wallet and (he hopes) safe at home.

It seemed a good idea, though I intend to simply maintain my old habits. A few minutes each morning allow me to confirm the integrity of my credit line and bank accounts. So far, I’ve seen no illicit activity.

What safeguard do you take? Do you check your credit card and bank statements daily?

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14 comments:

  1. Earlier this year, my husband was served with papers being sued by American Express. We have never had American Express, someone opened an account and spent 13 thousand dollars in one day. He had to file a police report and all kinds of paperwork, but the case was dropped. He now pays for a monthly service that locks your social sec. number and alerts you to any credit changes.

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    1. Oh, wow! I'm so sorry that happened. What a headache.

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  2. That is a good idea. Checking daily is good, but keeping one card for recurring bills is genius.

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    1. I am very happy if the tip helps folks. Be well!

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  3. I do not check it daily. I really need to consider doing that as things are getting worse out there.

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    1. Isn't that the truth? ~hugs~ Be well, my dear, physically and financially.

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  4. Ooh no, I'm not good at checking daily, but I should be. I only check when I need to pay something.

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    1. I just realized that I've neglected to check since I was busy traveling the last five days. Thanks for the reminder. ~grin~ Be well!

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  5. Now it's no longer necessary to use a pin number to make small purchases with cards it's even more worrying! I should check more often than I do. Guess what I'm doing next?

    Click to visit Keith's Ramblings

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  6. Checking daily is good,
    Thanks for sharing..

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    1. Which reminds me that I haven't done so today. Thank you for the reminder!

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  7. What a good idea your father had. I like it!

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    1. He's a smart man. Thanks for the kind word!

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