Protecting Your Credit Cards

Credit card fraud is a national problem and one reason interest rates are higher on credit cards than on other types of loans. As a credit card consumer, you have certain rights. If you think you are the victim of credit card fraud, contact your credit card issuer. Other organizations that can help you include the Federal Trade Commission and the National Fraud Information Center.

You can protect yourself from credit card fraud by reporting lost or stolen credit cards to the issuing company immediately. Never give your credit card number, confidential personal identification number (PIN), or similar personal information over the telephone unless you have placed the call to someone you know is legitimate.

Under federal law, if a thief uses your credit card or card number, the most you are liable for is $50 per card if the creditor is notified immediately. If you contact your card company before any unauthorized charges are made, you are not responsible for any unauthorized charges.

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