Stolen Credit Card Issues
If you're faced with handling the issue of a stolen credit card then you have to assume somebody is going to try and use the account. Call up the creditor immediately. You'll probably be advised to close that account number and replace it with a new one.
But doing only this may not be enough. Why? Because the thief may try and use your account number with other personal information of yours to tap, or alter, other accounts you have with them.
You can place a fraud alert on all accounts with that credit institution. If you have usernames and passwords for these accounts then update them. (Avoid using common usernames and passwords that include things such as your social security number, mother's maiden name, child's name or other family member's name.
In general, setting up a password for your bank and financial accounts is always a very good idea. It's often possible to formally request that a password be required in for any action to take place with your accounts -- such as a withdrawals, name/address changes, billing information disclosures, etc.
Ask the institution to contact you whenever an attempt is made to apply for credit in your name. This credit alert might say something like, "Please contact me immediately at this phone number before issuing any new credit. All new credit lines must be personally validated by me."
You want to monitor the activity in all your financial accounts, especially withdrawals. Report any unauthorized transactions or suspicious activity to the security department of your financial institution immediately if any issues arise.
Go ahead and file a police report too. You may not want to do this. After all, it's just one credit card, right?
Wrong.
If you do find yourself having to purge your credit profile of fraudulent accounts then you're going to have to "prove" these accounts weren't really yours to begin with. A police report is handy in this regard.
Be aware that when it comes to ID fraud, credit issuers and credit reporting agencies alike expect to see any accounts or mis-information you contest on a police report.
Vigilance must be maintained. Sadly, one can never be 100% sure they're in the clear when it comes to identity theft. Many gaps and holes exist in the system allowing people to be victimized. But doing your part may prevent a stolen credit card situation from becoming a full-blown identity theft nightmare.
But doing only this may not be enough. Why? Because the thief may try and use your account number with other personal information of yours to tap, or alter, other accounts you have with them.
You can place a fraud alert on all accounts with that credit institution. If you have usernames and passwords for these accounts then update them. (Avoid using common usernames and passwords that include things such as your social security number, mother's maiden name, child's name or other family member's name.
In general, setting up a password for your bank and financial accounts is always a very good idea. It's often possible to formally request that a password be required in for any action to take place with your accounts -- such as a withdrawals, name/address changes, billing information disclosures, etc.
Ask the institution to contact you whenever an attempt is made to apply for credit in your name. This credit alert might say something like, "Please contact me immediately at this phone number before issuing any new credit. All new credit lines must be personally validated by me."
You want to monitor the activity in all your financial accounts, especially withdrawals. Report any unauthorized transactions or suspicious activity to the security department of your financial institution immediately if any issues arise.
Go ahead and file a police report too. You may not want to do this. After all, it's just one credit card, right?
Wrong.
If you do find yourself having to purge your credit profile of fraudulent accounts then you're going to have to "prove" these accounts weren't really yours to begin with. A police report is handy in this regard.
Be aware that when it comes to ID fraud, credit issuers and credit reporting agencies alike expect to see any accounts or mis-information you contest on a police report.
Vigilance must be maintained. Sadly, one can never be 100% sure they're in the clear when it comes to identity theft. Many gaps and holes exist in the system allowing people to be victimized. But doing your part may prevent a stolen credit card situation from becoming a full-blown identity theft nightmare.
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