How Do You Handle Fraudulent Activity On Credit Cards?
Credit card fraud costs hundreds of millions of dollars each year to cardholders and card issuers, according to the Federal Trade Commission. Regardless of how careful you try to be, it is impossible to protect yourself 100 percent against credit card fraud. One of the most important things you can educate yourself about is how to handle fraudulent activity on credit cards once it is discovered. Federal law mandates that once the fraud is reported to the card issuer, you are no longer responsible for any fraudulent charges. Federal law also mandates that the maximum amount of responsibility you have for fraudulent charges is $50. Call the credit card issuer as soon as you discover the fraudulent charges. Check your original paperwork, a monthly statement, or the credit card company’s website for a toll free number to report credit card fraud. Most credit card issuers are available 24/7 for fraud reporting. Check your other credit card accounts to see if the fraud is an isolated inciden
