AAA Financial Services Offers Tips to Avoid
Identity Theft and Credit Card Fraud
Millions of Americans will Fall Victim to Scams this Year
Helena, Mont. 2/10/09 –Last August, the Department of Justice announced the indictment of 11 people involved in the largest credit card fraud and identity theft scheme ever identified. Over 40 million credit and debit card numbers were stolen. More than eight million Americans fell victim to such scams in 2007, according to a Javelin Strategy and Research report. At a time of a severe credit crisis protecting your credit score is even more important. AAA Financial Services offers the following ten tips to keep your credit card safe.
- Safeguard your credit by treating your cards like cash. Keep them securely in your wallet or at home when not needed.
- Review your monthly statements in a timely manner to ensure all charges are accurate and check your account online frequently. This will also help victims of Skimming detect fraud immediately. Skimming often occurs in restaurants and bars where credit cards are out of sight of the cardholder. Secret copies of the magnetic strip are made in order to make a counterfeit card.
- Report billing errors and lost or stolen cards immediately to resolve problems in a timely manner and reduce possible fraudulent activity.
- Be skeptical of all email that direct to a website in which credit card or personal information is entered. One of the largest forms of fraud is “Phishing,” in which victims receive an email that directs to a phony website that is an exact copy of a real website and requests users input personal and financial data supposedly verify accounts.
- Carry credit cards as needed, reducing the amount of cards you carry will decrease exposure to loss or theft.
- Keep credit card numbers secure – do not give out your information over the phone unless you are familiar with the merchant or you have initiated the call.
- Track your usage by keeping receipts for your ATM, credit and debit cards.
- Keep a list of your credit card account numbers, issuer contact information and the three credit reporting agencies in a safe place to allow for quick reporting if they are lost or stolen.
- Shred pre-approved offers, card receipts, and anything that displays your credit card information before putting them in the trash.
- It is wiser to use a credit card, rather than a debit card when making purchases over the Internet. When you use a debit card, it is your money at stake and not the bank’s.
Whether you need information on using credit wisely or keeping your money safe when you travel, AAA can help. AAA Financial Services provides members with credit cards, auto loans, personal loans and deposit programs. For additional information visit www.AAA.com.
AAA MountainWest Club is dedicated to providing its over 160,000 members in Alaska, Montana and Wyoming with travel, insurance, financial and auto-related services. A fully taxpaying, not-for-profit corporation, AAA MountainWest, Inc. works for the improvement of motoring and traveling conditions and is a leader for travel, civic and safety issues. AAA can be visited on the Internet at www.AAA.com. To have up-to-date news and safety information from AAA delivered right to your desktop, sign-up for the new RSS Feed at http://aca.aaa.com/exts/email/?club=066#rss
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