credit cards

How to spot credit card fraud quickly

4 steps to recover from credit card fraud
How to spot credit card fraud quickly

Spotting credit card fraud

You have to know someone is using your credit card before you can halt fraudulent transactions. That discovery can happen in different ways. Perhaps you notice your card is missing from your wallet, and you see a funny charge on your statement. Or you still have your card, but suspicious transactions start showing up on your credit card bill.

"Or you might get a call from your lender before you're aware of the fact that it's happened," says Rod Griffin, director of public education at Experian. "Credit card companies are very good at recognizing patterns indicating that fraud may have happened."

Some banks will send automatic alerts to your cellphone via text or email if they notice a peculiar purchase, and you may be able to customize some transaction alerts as well. It's always a good idea to review your credit card transactions online regularly to catch suspicious activity.



Show Bankrate's community sharing policy
          Connect with us
Product Rate Change Last week
Balance Transfer Cards 15.70%  0.02 15.72%
Cash Back Cards 16.40% --0.00 16.40%
Low Interest Cards 10.86% --0.00 10.86%

Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.


Credit Card Blog

Jeanine Skowronski

CFPB: Lender distorted credit reports

The Consumer Financial Protection Bureau has an eye on credit reporting issues. The agency took enforcement action against auto financer First Investors Financial Services Group Inc. Wednesday for distorting consumer credit records for years. Per the CFPB, First Investors, which lends primarily to subprime borrowers, failed to fix known flaws in a computer system that  ... Read more

Partner Center

Connect with us