If you believe you’ve been the victim of a credit card rip-off, report it immediately to local and federal authorities, as well as the Better Business Bureau and the creditor. Local police must be notified so that you can have an official record of the crime, federal officials must be notified because they investigate fraud and credit theft nationally, and the BBB and creditor should be alerted so they can protect you in the future, and ensure they don’t remove rip-off report information from your file. Of all the issues reported by customers to ScoreSense, complaints of credit card fraud are among the highest.
Identity theft is a form of credit rip-off. Report information sent to the credit bureaus by creditors will not reflect this type of activity, and it will affect your credit worthiness, because creditors have no way of knowing that you are not the one who requested credit. Therefore, when accounts get opened in your name, or goods and services are purchased with a credit card you didn’t authorize, and you don’t pay (because you don’t know the accounts existed), you become a victim of the rip-off. Report identity theft as soon as you become aware of it to minimize damage to your credit reputation.
There are several things you can to do prevent, or at least mitigate, damage done by a credit rip-off. Report to your credit card company any suspicious activity that you notice as soon as you discover it. Also, if you find that you’re the victim of a physical rip-off, report removal of your credit card from your possession immediately. If you can report a loss within 24 hours, your liability is limited to only $50 in most cases, regardless of the actual amounts charged.
If you have been, or think you might be, the victim of identity fraud or a credit rip-off, report it to one of the credit bureaus immediately. They will contact the other two bureaus, and all three will place a fraud alert notice on your reports. When a fraud alert is posted, any creditor must contact you personally before extending credit in your name, and it will stay on your report for 90 days. To extend the alert for seven years, you must provide a copy of a police report and evidence that attempts were made to access your personal information. That’s why it’s very important to get the rip-off report from the police immediately. All fraudulent activity needs to be reported to each individual credit bureau and creditor if you have any hope to remove rip-off report information from your credit history.
Many people don’t realize they’ve had their identity stolen until they apply for credit and are denied, despite the fact that they’ve paid all of their bills on time. Others discover the fraud when they receive bills in the mail for credit cards for which they never applied. No matter how you discover it, once you discover you’re the victim of a credit rip-off, report it. And to help prevent becoming a victim in the first place, sign up with ScoreSense. With ScoreSense, you don’t have to worry about being a casualty of a credit rip-off. Report removal of fraudulent information is unnecessary, because it will never happen.
If you’ve been the victim of identity theft, a credit rip off, or you’d like more information on managing your credit with ScoreSense, visit us at www.scoresense.com