Credit Card Fraud: How it can Happen

How credit card fraud is done, how to prevent it, next steps for victims, and the importance of monitoring your credit report

Credit card fraud involves someone using your identification to obtain money or credit in your name without your authorization. It is the fastest growing crime in America.

With just a few pieces of valid identification, anyone can commit credit card fraud and apply for and receive credit cards or debit cards in your name. Even before you report the crime, hundreds of dollars in charges can be made by a quick acting thief.

NOTE: The Social Security Administration reported that abuses of Social Security numbers nearly tripled from 1998 to 1999. This increase is partly due to the ease with which the Internet can distribute information.

Credit card fraud is easy - Here's how

Just how easy is it to steal your identity and commit credit card fraud? Here are some ideas that will inform you and may literally astound you. Here are some traditional ways to acquire your identification as well as some quick "Internet" techniques.

How to commit credit card fraud

Prevent Credit Card Fraud

What steps can you take to protect credit cards from being used by others? How should you protect your Social Security number? How can you protect your bank account from fraudulent withdrawals? Do you know the possible signs of credit card fraud that are associated with mail delivery?

Credit Card Fraud: Prevent it from happening

Credit Card Fraud Victim - What to do now

The good news for victims of credit card fraud is that your liability is probably limited to $50 per account.

The bad news for credit card fraud victims is that you will work hard to regain control of your credit.

How should you report credit card fraud to the police? What should you tell the credit reporting agencies? Do you know how to deal with credit card issuers? It's all here.

Here are the next steps to take for credit card fraud victims.

Credit Card Fraud victims -- Here's what to do now.

If you have not already done so, check your credit rating today. How many credit cards are there in your name? Click the image below to see if identity theft affects you.

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