Have you learned the good habit of watching your credit card statement at the end of the month? If so, you are one step closer to avoiding being a big victim of credit card fraud.
Want to do a better job of it? Keep a closer eye on your account. Most credit card companies will let you log online to check on your account and see any recent transactions. You should try to log in and do this at least once a week. This way charges will be fresher in your mind, and you will more quickly notice if something is a miss.
So, what would you do if you were to find a charge that did not belong on the card? Not taking the right steps can let more bogus charges through and end up costing you in the long run.
Call Your Credit Card Company
As soon as something seems out of the ordinary, call your Credit Card company. It is possible the credit card company may have noticed something out of the ordinary and already called you.
The best credit card companies will work together with you to go over the charge that is in question. You need to carefully consider whether you could have made the charge. It is important to realize that many charges you make online may come out of accounts with a name other than those you may have thought you bought from. With the influx of individual owned online businesses you may think you are paying a business name when in fact your money is going to an individual person, which is how it will come up on the statement.
The best thing to do is put a hold on your account while you and the credit card company sort out the charge. Just in case it is a bogus charge, this will stop the crook from being able to put any more through.
The company will then be able to do some research to get you more information about the charge in question. Often they will be able to get a full receipt for you to look at.
If you find that your account has been compromised, you should ask your credit card company to close that account and open a new one for you. This is a very common thing and can be done in minutes.
Additionally, you need to ask them what type of recourse you have against the charges that were made without your knowledge. With many of the best credit card companies as long as you have alerted the company quickly you may be able to completely recoup the fake charge.