Protecting Seniors Against Credit Card Fraud

We all know the need that exists in protecting our seniors from credit card fraud and abuse.  There are many good educational programs that teach seniors how to protect themselves from credit card fraud by someone else however it is never a waste of time or effort to review things that they can do to help in protecting themselves as well as those around them.

Protect your credit card numbers.  A credit card number in the hands of the wrong people will end in disaster financially.  That’s why it must be protected in all ways possible and at all times.  Use these tips below to help make sure you are doing what you need to in order to make sure that you are as safe as possible

Guard your mail.  Retrieve your mail as soon as possible.  If you are going to be away from your house for an extended period of time, have someone do this for you and place the mail in a safe place. Shred any unsolicited credit card offers that you might receive in the mail.  These can be stolen by others and applied for and used in your name.  It is done by issuing a change of address when the application is completed.  Also, destroy by shredding any bank statements and credit card receipts that have the full number on them.  We often just throw these away without destroying them.  Make it as difficult as possible for someone to get this information.

Do Not Give Personal Information on the Phone.  Being wary of those who ask for credit card numbers over the phone or on the Internet is the first line of defense protecting people from fraud and abuse.  Also, never give out other information such as social security numbers or even date of birth.  These can be used in obtaining credit cards in your name as well.  Also, avoid calling those numbers that show up in your email inbox that try to alert you that you need to call in with account information.  This is just another way of attempting to get your credit card information.

Check Your Credit Report.  At least once per year, check your credit report for errors and fraudulent use.  This will help you keep your credit score high and your report clean.  You can check your report free at all three of the credit bureaus once per year.  Do not allow them to charge you for this service.

Notify authorities if you suspect that you are the victim of credit card fraud.  This will help them in seeking a resolution to your situation which can help others, too.  Credit card companies have programs that protect card holders from fraudulent use by not requiring them to pay for these charges, but that does not take away from the amount of time and hassle it takes to expunge these charges from your account.

Review your credit card accounts on the Internet.  This is one of the best ways to monitor your accounts.  You can see within hours what activities have been taken place on your behalf.  Armed with this information, you can flag any unauthorized uses that need to be addressed right away.  The sooner authorities get access to this information, the sooner that they can get on the case and follow up with any leads which could lead to the perpetrators in a timely fashion.  Once the trail has grown cold, it is much more difficult to catch and prosecute those responsible for these acts.

Using the above suggestions can help you avoid an unfortunate run-in with credit card fraud and abuse.  Make sure you take an active role in protecting the credit card information of yourself and those around you.

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This entry was posted on Wednesday, March 11th, 2009 at 6:52 am and is filed under Card Security, Tips & Advice. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.