Dealt with Credit Card Fraud

Dealt with Credit Card Fraud

Primary Text Separator for Milspouse Money Mission, Financial Education for Military Spouses

Fraud can happen day or night and it is so important to catch it as soon as possible.

I had an instance where I checked my account the night before and everything was normal but when I checked the next morning, there was a $300 charge on my card from a shoe store. I called the store and gave them my card number to access the transaction which they were able to find and cancel. The $300 was returned to me but most importantly I found out that whoever had used my card, chose express shipping which would have shipped the shoes just one hour after I called. If I hadn’t caught it when I did, they would have shipped, and it might have been too late for me!

In another instance, my husband’s card was used for fraud when he was in another country, but luckily, I caught it and we were able to shut his card down.

Fraud can happen to anyone which is why it is important to check your bank accounts regularly. Keeping an eye on your card will help prevent fraud from happening to you, especially moving as much as we do in the military.

MilSpouse Money
Mission Response:

Thank you for sharing your experience with credit card fraud, Mariah. It can happen to anyone at any time. Vigilance is key to maintaining your financial health and security. Monitoring and reviewing your accounts regularly can help you catch unusual activity as soon as possible. See below for suggestions on what to do if it happens to you and check out this resource for even more information.

  • Notify your financial institution immediately in the event of unauthorized charges.
  • Contact the three consumer reporting agencies (TransUnion, Experian, Equifax) and place a fraud alert on your credit report.
  • Cancel your ATM/debit card if it has been stolen or compromised.

Identity theft is a serious crime that can impact your savings, checking and credit accounts. Thieves may also steal personal information to commit fraud, which can affect your credit reputation and job opportunities while you are trying to resolve the problem. The good news is that there are steps you can take to protect yourself. Visit Money Ready 201: Protect Your Identity for more on these three steps:

  1. Understand what identity thieves do.
  2. Know how it occurs.
  3. Reduce access to your personal information.

It can feel scary to think that someone else may be trying to access your personal information and hard-earned income. Like Mariah, monitor your accounts so you can catch any unauthorized activity as soon as possible. Know where your money is going each month and follow your spending plan. Since much of our financial lives are conducted online, follow these 10 tips on cybersecurity. Remember that you can protect yourself and your resources!