Credit card fraud affects hundreds of thousands of people each year, making it one of the most common types of fraud in the U.S.1 With its prevalence as a threat to credit card users, credit card fraud detection is especially important.
What are some potential ways individuals can help fight credit card fraud? From using a trusted credit card and credit product provider to identifying signs of suspicious activity, this guide provides an overview of possible strategies people can use to help stay safe against credit card fraud.
Considered a form of identity theft, credit card fraud generally refers to the unauthorized use of someone else's credit card information to conduct transactions. There are several types of fraud on a credit card that can occur. Here are some to know:
There are many possible ways credit card information may be stolen, from a lost card being picked up and used by someone else to nefarious digital schemes. Here are some examples:
When it comes to fraud on a credit card, possible signs of suspicious activity may look different. Here are some signs that may indicate fraudulent activity on a credit card account:
Wondering how to report credit card fraud? If an individual suspects credit card fraud, there are a few steps they can take. Here is a general breakdown:
Nowadays, many banks and credit card companies offer real-time fraud alerts to identify potentially suspicious activity. If an individual’s bank detects fraud, here’s what may happen:
Keeping credit card information safe is essential to help fight fraud. Start with these potential tactics for credit card fraud prevention:
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