Mortgage Calculator  |  Credit Cards icon Small Business  |  Your Money  |  Construction  |  EntrepreneurStudent Loan

money smart personal finances

Credit Card Fraud Stats - Protect Yourself from Being Scammed

See offers matched with your credit profile

Credit Card Fraud

Billions of dollars were lost due to credit card fraud. This is how big a scam it is. This has even encouraged more people to engage in this criminal activity. They know that with just a simple phone call or a pretentious email, they can make gullible people provide their credit card information.

The worst part is that in most cases, they remain unresolved. Tracing the scammers is a huge challenge. They can easily escape the responsibility. Hence, almost no one is brought to justice. Imagine being in a position where you have been scammed and you canít do anything to get your money back. You also end up paying for an amount you have never used.

The only way to protect yourself from credit card scammers is by being more vigilant. Make sure that you donít let phone calls fool you. Beware of all the emails you receive especially from an unknown source. Donít make dubious online transactions. Most of all, keep your credit card companyís phone number with you all the time.

If you think you were scammed or your actual credit card was lost, call the company to cancel (or suspend) the account right away. This prevents anyone from ever using the account. Creating a different account is easy so you donít have to worry about it.

The infographic below teaches some more strategies on how to fight these scammers. As long as you protect yourself so you wonít be a victim of these scammers, they will never succeed.

Credit Card Fraud Stats - Protect Yourself from Being Scammed

money smartLendingTree