Do Not Become Victim to Credit Card Fraud!

Despite popular belief, there are numerous ways in which you can become victim to credit card fraud, other than misplacing your credit card. Recent data breaches and the increased prevalence of credit card and debit card fraud are increasing the importance of protecting your financial security. Rather than being surprised when you see fraudulent activity on your credit card statement, allow these informational points of guidance to keep you aware of the dangers:

  • Card-not-present fraud – As one of the most common types, this form of credit card fraud does not require the criminal to physically hold your credit card, only the information. Through phishing scams and card breaches, these criminals will use your account information to make online purchases.
  • Lost or stolen card – This type of fraud results when the criminal actually gets a hold of your credit card. Once they have stolen your credit cards, they will use them to make purchases with your card before you have the chance to report them missing.
  • Mail non-receipt fraud – This type of fraud is more common for individuals who live in communal neighborhoods where the mailbox room is shared. After a bank issues you a new credit card and sends it in the mail, the criminal will wait and intercept the transfer.
  • Counterfeit card fraud – This form of fraud is more complex, as the criminal has to duplicate the magnetic stripe from the real card to create a fake card.
  • Card takeover fraud – By making themselves an authorized user to your account, criminals can take over your card and change your address.

If you suspect that you have become victim to credit card fraud, make sure to report it immediately. The last thing you want is for this to become an issue when you are ready to purchase the home of your dreams. For all of your lending needs, contact Avis Lending with locations in Irvine, California and Lahaina, Hawaii.

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