6 Ways to Report Credit Card Fraud

In the wake of so many scams taking place online, consumers have started realizing how important it is to monitor their financial accounts and be careful when sharing personal information with retailers.
If you think you have been a victim of credit card fraud then it is important that you take action right away.

Here are six things that you should do if your credit card information gets stolen by hackers:

1.       Contact the credit card company

If you see any suspicious activity on your account or if you have misplaced your card, then you should report credit card fraud directly with your credit card issuer. Most companies work with you to track down any suspicious activity and keep monitoring your account. If you report the unauthorized charges sooner then you will be in a better position to get these charges refunded.

2.       Call the credit bureaus

If your card information gets shared before you realize there is problem, then your credit score might already be in trouble. If you suspect that you have been victim of identity theft then contact credit reporting companies such as Experian, Equifax or TransUnion to report credit card fraud. They will then put an alert on your account.

3.       File a report

You need to file a report with Federal Trade Commission. For this, you will have to first file a police report. You will then have to submit that police report with the documents to the FTC’s Complaint Assistant. After this, you will be given a complaint reference number that you can then use anytime to update the information.

4.       Changing your account information

When your credit card information gets compromised, you should take control of where the information has been currently shared. If you have linked your credit card with any online bill pay websites or retail stores then you should remove the linked information from each account as soon as possible. This way, your future purchases can only be made when you enter your credit card information manually. You have to follow these steps to report credit card fraud so that the criminals can get caught.

5.       Credit monitoring service

This service keeps a track of your credit report and also immediately informs you when there is any suspicious activity in your account. You just need to make sure that you report credit card fraud with a company that has some solid reputation in the industry. 

6.       Have a talk with your bank.

It is a good idea to report credit card fraud to your bank. This way, they will be more vigilant in monitoring your accounts and report any suspicious activity to you. 

When scammers steal your identity, it can cause you more damage than just using your credit card information to go on a shopping spree. They might even use your personal information to set up new accounts or compromise the old ones under your name. You should review all the banking and statement information in detail and then contact the appropriate agencies to report credit card fraud if you think you have been a victim of one.