Credit Card Identity Theft

ElitePersonalFinance
Last Update: February 13, 2021 Credit Cards Identity Theft

Almost everyone has read or, at some point, hear stories about credit card ID theft. However, if you always keep your cards safely unless you want to use any of them, your chances of losing your identity are very low. Well, this is no guarantee. So, that means that you need to be aware of some of the about card identity.

Firstly, you need to know that crooks stealing your card may not be the only in which you can lose your identity. Before you realize that you miss anything, your PIN and card details may have been stolen. It is always easy for the crook to easily copy your name, card number, and ID number or even, in some cases, observe as you enter your PIN at the ATM (automated teller machine).

When an individual applies for a debit or credit card using your personal information, i.e., your name and SSN (social security number), your identity can be stolen. In most situations, they acquire this information by accessing your mail, after which they have the card sent to their address. The moment they start defaulting payments, the card company will come for you and not them. This can be very devastating as it will greatly affect your credit rating.

Internet Identity Theft

Secondly, it is almost impossible to be completely safe from credit card theft because the cooks are always very knowledgeable in this field. And if you think using your PC is much secure, then you are absolutely wrong! If a key logger is connected to it, someone can easily assess your personal information stored inside.

Well, for those who don’t know, a key logger is some spyware used to monitor your computer. And the moment to start feeding your computer with your card information may be to make an online purchase. A record is immediately sent to the crook’s computer system. If you don’t have spyware installed on your computer, then you should make an effort and get one as soon as possible.

Always Watching Your Back

Thirdly, whilst the Internet has conceived numerous golden opportunities for ID thieves, retail stores will always remain to be their favorite target, where they can either steal cards physically or secretly copy card information of their victims. Every time you buy anything from the stores and your credit card is required, make sure you don’t get your eyes off it. Or maybe you can opt to store that lets you run your credit card without necessarily giving it to a cashier. And lastly, if you are making purchases or withdrawing cash from the ATMs, always ensure you properly shield yourself when punching in your PIN.

Having outlined to you the main realities of credit card ID theft, let’s now look at the six common scenarios of credit card theft. To many people, using a credit card is almost harmless. Continue reading and get an insight into the several small mistakes that can have a major impact.

  • A frozen card is capable of destroying your future business prospects

This is almost unavoidable. When your card is frozen and flagged, you will be forced to make large procurement in front of respected people and possible investors. You can attest that nothing is more embarrassing than struggling to pay a lunch bill for potential clients. And this can go a long in tarnishing your name.

  • You can be stranded

After having an excellent holiday vacation, you will hand in the bill and sign against your name smiling. Be sure that a frozen depleted funds can dumper the whole voyage. Instead of sauntering to the airport for your next flight, you will be busy on the phone trying to inquire from your card issuer.

  • Ruined first date

Yes! The painful truth is that you have to grab the bill, especially on your first date, to prove that you are worth it. And it is certainly not a good show when the account is returned and a new means of payment requested. No doubt that the chances of ruining your future with the spouse are extremely high. In other words saying, “My card (credit) was frozen” is the latest version of “I left my wallet in the house or even car.”

  • Worsens familial relations with your teenager

This may sound funny but not the plain truth; Adolescents are a breed of their own. They cannot be compared to real people. You will agree with me that paying for your teenager to go to the movies can be the best way of getting a few hours of rest. With a frozen credit card, your teen gets more ammunition on his quest to brand you as “the most frustrating parent.”

  • Be confident when emergencies happen

One of the top advantages of having a credit card is that you can quickly pay for your emergencies. And you all agree that the last person you really want to call when there is an emergency is a customer service representative from the fraud department because your card has been frozen.

  • Avoid the glare, especially during small transactions

Other store clerks really understand, but some generally have hatred the public and no doubt that your credit-related issues can worsen the situation. It is wise to stay away from a furious barista from the morning glare after realizing that your card has been frozen. Always start your day on a good note and focus on things that will grow you.

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