By Joe Fino
THE ERICKSON TRIBUNE
When you use a credit card, you can be vulnerable to fraud, whether you pay online, over the phone, or even in person at a local restaurant.
If you think you've been the victim of fraud or a scam, immediately follow these steps.
Step 1: Close any affected accounts.
If you believe you've given sensitive information to an unknown source masquerading as a real company, contact the genuine company and let them know. If you contact the real company immediately, they might be able to lessen the damage to you and others.
• Speak with the security or fraud department about any fraudulently accessed or opened accounts at every bank or financial institution you deal with, including credit card companies, utilities, Internet service providers, and other organizations that have your personal information.
• Follow up with a letter and save a copy for yourself.When you open new accounts, don’t use passwords such as your birthday or anniversary.
Step 2: Change the passwords on all of your online accounts.
When you change your passwords or open new accounts, use strong passwords—include letters, numbers, and special characters.
Step 3: Place a fraud alert on your credit reports.
In the United States, contact these three credit bureaus:
• Equifax (800) 525-6285, Experian (888) 397-3742, TransUnion (800) 680-7289
• From each, get a copy of your report (victims of ID theft can receive copies of their credit reports for free) and ask that no new credit be granted without your approval.
• Make sure your account is flagged with a “fraud alert” tag and a “victim's statement,” and insist that the alert remain active for the maximum of seven years.
• Send these requests in writing and keep copies for yourself.
• Review the reports carefully. Look for things like inquiries you didn't initiate, accounts you didn't open, and unexplained debts.
Step 4: Contact the proper authorities.