Given the economy we live in today, it’s almost necessary to have a credit card with us at all times.They come handy when we need to make huge purchases, such as when we go shopping online, pay for bills, or book trips.
However, carrying more than one card at a time is risky. Continue reading →
When victims of credit card fraud are asked, they often report having lost a credit card. Credit card fraud goes hand in hand with id theft. Id theft and credit card fraud uses fraudulent sources of funds to purchase resource. It is fraudulent because the thief does not actually have the monetary funds. The thief is simply using a victim’s funds to pay for his unauthorized charges. The nature of this crime often leads to unexpected financial losses. These losses, no matter how small or big they are, often take time to resolve. Thus, it is very important to protect ourselves from this crime.
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It is very easy to lose a credit card no matter how much you try to secure it. Sometimes, even if you try to avoid something, such as losing your card, it happens. And when you experience it, it is important to know how to deal with the problem. When you lose your credit card, you need to accept the possibility that someone else might have used your credit account. Thieves can simply create a new card using your number or purchase resources via online or telephone through it. Thus, religiously monitoring your credit after losing your card is important. You also need to prepare for expenses and time required to replace a lost card.
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Consumers live on credit in purchasing resources that they need and want. The major use of credit gave rise in credit card fraud. When thieves steal credit from you, it does more financial damage than just stealing cash. When a thief steals cash, you lose some money and then it’s over. But when they tap onto your credit, the effect is more far-reaching and long-lasting.
Thieves usually start with stealing your personal information to track down your accounts. A lost credit card in the wrong hands could lead to id theft and credit card fraud. For your credit protection, it is important to be aware of simple yet effective ways to avoid this crime.
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