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7 Things You Need to Do If You’re a Victim of Credit Card Fraud

Credit card fraud is on the rise. According to foxbusiness.com, it affects approximately 11.6 million Americans each year. Your personal information can quickly become stolen from a credit card you use at a gas station or from an application for a new account. When you want to recover from the fraud and prevent further loss, there are a few important steps to take. The staff at ADS Guards, a leading security company in San Jose, wants to share these important steps with you.

1. Contact the Credit Card Company

Immediately close any accounts that have suspicious charges to prevent the card from being used again. You will not be responsible for paying unauthorized charges and are protected by the Fair Credit Billing Act.

2. Examine Your Bank Statements

Take a close look at your bank and credit card statements to watch for other signs of fraud that may be present. Highlight unusual transactions you want to investigate.

3. Sign Up for an Identify Theft Monitoring Service

An identity theft monitoring service will track your accounts each month and investigate suspicious activity in the future. The service will freeze accounts and notify you of theft that occurs to ensure you reduce the risk of further loss.

4. Change Your Passwords

Many criminals obtain credit card information by hacking accounts, making it necessary to change your passwords so you can reduce the risk of further damage. You can also change your PIN number or username to increase your security.

5. File a Police Report

Some people’s credit scores are affected by fraud that occurs to their accounts. The scores can be repaired by the credit bureaus if the victim files a police report. Complete an online complaint form and follow up to ensure it is processed promptly.

6. Contact Credit Bureaus

Get in contact with the major credit bureaus, which include Equifax, Experian, and TransUnion. You can have a fraud alert placed on your account for a minimum of 90 days and for up to 7 years, which is a free service. You can also receive a credit freeze to prevent new creditors from pulling your personal information. Make sure to take a look at your personal information to ensure everything is accurate.

7. Keep Careful Records

Keep organized records of your paperwork and evidence that proves you were a victim of credit card fraud. Make it a point to check your credit score regularly and look for errors or suspicious activity each month. You can also send a letter to your credit card company to explain the fraud that took place.

When you want to repair the damage that occurred to your credit score and prevent the fraud from happening in the future, it’s crucial to remain proactive. By taking immediate steps and safeguarding your information, you can quickly move on from the event.

As a trusted security agency, we at ADS Guards believe it’s important to protect your financial and personal information. However, there are a wide variety of other ways criminals and scammers can do you harm. If you have a residential or commercial space that needs professional protection, we provide armed and unarmed security officers in San Jose. Give us a call today at 1-800-794-1550 for a complimentary quote.