Protect Yourself from Credit Card Fraud

Credit cards chained up with padlock

In light of the recent Target security breach you may find yourself just how safe it is for you to make purchases using your credit card. You may be wondering how you can also protect yourself from credit card fraud.

While it is true that any time you are making the decision to use your credit card there is some amount of risk involved. However, your risk is limited because of federal law. The risk of fraud for credit cards is limited to $50. In many cases if your card number is stolen or your card has been stolen or lost, you may find that your actual liability is zero. However, it is a different case for debit cards.

If you go to your credit card company and report that your card or card number has been stolen then it should be a cut and dry process. However, this will depend upon the individual company. Some of the companies give their customers a difficult time if the unauthorized charge has been made by that customer’s family member or someone else they know. However, in the case of the numbers being stolen at Target, then customers should not expect to receive a hard time from their credit card companies for theft.

You can protect yourself from credit card fraud by obtaining free copies of your credit report. The official site you can use to get this report is annualcreditreport.com. You will want to avoid using other sources as you may be entitled to sign up and enter a card which can have you being charged in the event you forget to cancel a free trial.

Another step that you can take in order to protect yourself includes shredding any credit card offers you receive in the mail, that way no one else is able to use that application in your name. Make sure that you are reviewing your credit card reports carefully for any discrepancy’s and report them right away. If you are concerned about your identity being stolen you have the option of putting a freeze on your credit report. This will freeze any cards being opened in your name by thieves. If you choose to open a new credit card you will have to thaw the credit report.

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