Credit Fraud and Your Credit Profile

How to keep your report and score sound and avoid credit fraud? Know your "enemy" by sight, and you won't become its victim!

Credit card fraud stands for all the kinds of fraud with credit cards:

• Credit scam - perpetrators use pre-approved bad card applications, no and good card offers to make the potential card holder pay upfront fee to get a card. Thus you may come across, for instance, Visa or Chase card fraud;



• Stolen card fraud - when a thief makes unauthorized purchases on the lost or stolen card up until it is cancelled;



• Credit identity theft - fraudsters use stolen personal information to make purchases and/or obtain cash advances;



• Skimming - dishonest employee copies credit card information to use for his own purposes;

What Else You Should Do

What is needed for Credit card fraud prevention? A person, armed with all the necessary information, has fewer chances to face fraud. Read our articles or books about credit card fraud.

You can put credit bureau fraud alert on report. This kind of service will help you prevent identity theft. Noone will be able to install an account in your name, as the application is delayed until you personally verify the information. To initiate fraud alert on your report, choose between initial fraud alert for 90 days or extended fraud alert for some years and call fraud toll-free number of any of credit bureaus.

Mind that when you turn to a bank or loan center, the process may be slowed down because of fraud alert, put by report bureau. But the game is worth the candle, as your scores will be protected. For detailed information read our articles on credit cards.

Make a note of the following tips when using your good or fair score cards, secured or unsecured cards for people with low rating:

• Never leave them unattended in a purse, briefcase or wallet.



• Never toss your card receipt in a public trash bin.



• Never respond to an e-mail asking for your number, no matter how official or legitimate it looks.



• Applying for a card or good/limited loan, small business loan via Internet, make sure the site's secure.



• Contact the card issuer in case of credit card loss or theft the sooner the better.