One of the best reasons to get free credit bureau reports is to spot credit card fraud. Every
year the use of stolen credit cards or credit card numbers cost credit card companies and
ultimately consumers, hundreds of millions of dollars. The crime is both easy to commit and
hard to stop unless you spot it on your own as when you get free credit bureau reports.
So how does credit card fraud happen and can you detect it before it shows up in your
free credit bureau reports? The fraud can begin in seemingly harmless ways. You might see
what appears to be a homeless person sifting through the trash for cans to recycle. But it
could actually be a thief looking for discarded credit card receipts or carbons. With the card
numbers off the receipts he can then start a spending spree by phone, mail or the Internet.
Another way that credit card fraud could show up in your free credit bureau reports is with the
help of a store clerk. She could say she made a mistake on your charge slip and has to make
another one. But unknown to you, she then keeps the first slip to either sell your card number
or use it herself.
The Federal Trade Commission suggests the following ways to avoid having credit card
fraud appear in your free credit bureau reports:
- Sign your credit cards as soon as they arrive.
- Carry your 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 company in a secure place.
- Keep an eye on your card during a transaction, and get it back as quickly as possible.
- Void incorrect receipts and destroy carbons.
- Save receipts to compare with billing statements.
- Open bills promptly and reconcile accounts monthly, just as you would your checking account.
- Report any questionable charges promptly and in writing to the card issuer.
- Notify card companies in advance of a change in address.
And don't:
- Lend your card(s) to anyone.
- Leave cards or receipts lying around.
- Sign a blank receipt. When you sign a receipt, draw a line through any blank spaces above
the total.
- Write your account number on a postcard or the outside of an envelope.
- Give out your account number over the phone unless you're making the call to a company you
know is reputable.
To get free credit bureau reports and free 30 days of credit monitoring, please go to
free instant credit reports.
