Credit card fraud seems like it is rampant these days. It is wise to protect yourself from fraud in any way you can. I’ve had quite a few fraudulent charges on my cards throughout the years. That said, I have not had to pay for one fraudulent charge. I’ve been so happy with the service and help I’ve received when dealing with credit card fraud from my banks.
Most of my credit cards are through Chase bank. I have been banking with Chase for over 12 years. I’ve really come to appreciate the fraud protection offered for free through Chase, because I’ve seen that fraud prevention is a partnership between me and my bank.
Here are just a few ways Chase has helped me in the past when I’ve dealt with credit card fraud:
- When something looks suspicious I often get an email, text, and call to confirm or deny the purchase. Chase offers 24/7 Fraud Monitoring. They use specialized tools to monitor for fraud and may text, email or call you if there is certain unusual activity on your account.
- Chase credit cards have the embedded chip technology that adds a layer of security to cards when used with a chip reader; since using it I have seen less fraud.
- I have never been held responsible for the fraudulent charges made on my card. Chase offers Zero-Liability Protection to all of their customers.
- Chase worked with me and shipped me a new credit card immediately when there was fraud detected on my account.
3 easy steps you can take to help protect yourself against fraud:
- Sign up for account alerts and your bank will notify you of suspicious activity.
- Make sure your contact information is up to date so you get the alerts right away.
- Sign up to access your credit and debit card statements online instead of in the mail, and monitor them every few days – or more frequently during busy shopping seasons. If you spot anything inaccurate or unauthorized, contact your bank’s customer service center immediately.
With these simple steps, you can help protect your accounts and increase your “Fraud IQ.” Consumers tend to “block-out” fraud protection advice, leaving them vulnerable to fraud. Even consumers who are aware of the risk aren’t taking all of the necessary steps to help protect themselves.
Here are a few more ways you can protect against fraud:
- Shop respected sites and those starting with ‘https.’
- Use your chip every chance you have. Swipe only when there is no chip reader.
- Use difficult passwords. Don’t use the name of your dog, child, or best friend. Alternate numbers, letters, and symbols. For important passwords like bank information, use a unique password that you don’t use for anything else.
- Another smart move is to download your bank’s mobile app to make payments securely online, eliminating the vulnerability from mailing a check.
- Have a password on your phone.
- Check your bank and credit card statements often. I am a firm believer in checking all financial statements once a month. Call on anything you do not recognize (even small amounts). In January I went through my December statement. There was an unknown charge for $1.99. I called my bank and asked them who it was. Immediately they transferred me to the fraud department, cancelled that card and sent me a new one. Apparently thousands – even tens of thousands – had that same charge on their card. Had I not called, the thieves with my CC information would have most likely made a very large transaction the next time around.
- Keep good tabs on your credit (and your children’s credit too). By keeping tabs on your credit score, you can see if anything weird shows up. Also, hackers may use your children’s social security numbers fraudulently because they are less likely to be checked for years to come. You have everything to gain by checking regularly to make sure no credit history has been created using your child’s Social Security number.
- Use an anti-virus software to prevent hacking.
Take this quiz to see what you know about Credit Card Fraud: “What’s My Fraud IQ?” Quiz
What do you know about credit card fraud? You can find more features and tips here.