| In this article we're going to discuss what to do if you | | | | the issuing bank is unable to block continuing |
| are the victim of credit card fraud or if you want to do | | | | transactions. In this case canceling the card won't be |
| what you can to minimize the risk of being such a | | | | enough because banks usually carry over charges |
| victim. | | | | from one card to another. So in order to completely |
| One of the best things you can do to prevent credit | | | | clean up your account you may have to change |
| card fraud is switch to cards like the American | | | | banks as well. This will all depend on how good your |
| Express Blue Card. What American Express does it | | | | bank is at blocking charges, especially if your card has |
| centralize its transaction verification and Merchant | | | | been widely circulated. |
| Account tracking. This makes their cards much more | | | | Another thing you can do is phone the FTC hotline |
| fraud resistant. Also, because Visa and Mastercard | | | | number for credit card fraud. They have been set up |
| have the majority of the credit card market, this | | | | to deal with this problem specifically. There is also a |
| makes American Express a less likely target. In most | | | | form that you can fill out online to determine if you are |
| cases of American Express fraud, which are relatively | | | | eligible for a refund. |
| rare, the customers are reimbursed immediately and | | | | A problem that you may run into is that some banks |
| without question. Also, American Express has much | | | | will refuse to reimburse charges that are over 60 days |
| more friendly customer service procedures for | | | | old. If this happens your only recourse is to report the |
| handling fraud problems. In 2002 they added what are | | | | bank to the Federal authorities and let them handle the |
| called Amex Private Payments, which are one time | | | | problem. |
| use disposable credit card numbers. This virtually | | | | When looking for a new bank, or for that matter a first |
| makes fraud impossible unless the card is lost or | | | | bank to get your first card, look for one that has a |
| stolen. And then it is simply a matter of reporting it in | | | | good anti fraud record. This information is available |
| time. | | | | online and through several agencies of the FTC. |
| Another thing you can do is go to a firm that handles | | | | Use as few credit cards as possible. The fewer cards |
| refund requests. Most of these are appointed by | | | | you use the less chance of being victim of fraud. Also |
| Federal Agencies that investigate fraud. These firms | | | | try to use your cards as little as possible. |
| specialize in this type of litigation and will be most | | | | Check your credit card statements carefully to make |
| qualified to handle your complaint as quickly and as | | | | sure that there are no charges that don't belong there |
| cost effectively as possible. The majority of fraud | | | | and request credit reports so that you can see if there |
| complaints handled by these firms rule in favor of the | | | | has been any unusual activity on your account. |
| plaintiff. | | | | By doing the above things you will greatly minimize the |
| Unfortunately there are times when your only recourse | | | | risk of being the victim of fraud and have the best |
| is to cancel your credit card and change banks. Usually | | | | chance of being refunded should a fraud occur. |
| what happens when a card number is stolen is that | | | | |