What is Credit card fraud and how do you prevent it?
Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Credit card fraud is also an adjunct to identity theft. Ten Tips to Prevent Credit Card Fraud 1. Keep a list of your credit card numbers, expiration dates, and the phone numbers of all card issuers in a safe place. 2. Credit card issuers offer a variety of terms (annual percentage rates, methods of calculating balances subject to finance charges, minimum monthly payments, and actual membership fees). When selecting a card, compare the terms offered by several card companies to find the card that suits your needs. 3. When you use your credit card, watch your card after giving it to a clerk. Take your card back promptly after the clerk is finished and make sure the card is yours. 4. Never sign a blank receipt. Draw a l
