Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Credit card fraud is considered a form of identity theft.

 Unfortunately this type of fraud can be targeted towards anyone possessing a credit card, including our own credit union members. To minimize the possibility that you will be victimized from this growing trend consider the following 10 steps:

#1 Balance your account every month you should be able to reconcile the balance on your records to the balance on your statement.

#2 Call the 3 major credit bureaus if you suspect that you been victimized of identity theft and have your account flagged and that you be notified of future uses. The 3 credit bureaus are Equifax 800-525-6285, Experian 800-301-7195 and Trans Union 800-680-7289.

#3 Contact your credit card companies immediately, if you lose your card, and request a new account number with a new card.

#4 Report to the local police and the U.S. Secret Service if you’ve been victimized.

#5 Contact your credit union (or bank) immediately, if your cards have been lost or stolen for the purpose of closing your account and opening a new account with new account number(s).

#6 Avoid using commonly used passwords, such as birth dates and street addresses when establishing PINs for ATM cards, credit cards, etc.

#7 Deposit your outgoing mail in a U.S. Mailbox and avoid leaving mail in your home mailbox for pick up.

#8 Remove seldom used credit cards from your wallet or purse.

#9 Protect your social security number, driver’s license number, account numbers and all other highly sensitive personal information.

#10 Document everything you do when reporting identity theft because the burden of proof that you have acted responsibly is on you.