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Avoiding Credit Card Application Fraud

Identity Theft

Credit card application fraud has been around for a long time but today’s technology makes it easier than ever for someone to apply for a credit card using a stolen identity. This type of identity theft can be extremely detrimental to the victim whose identity has been stolen since the thief will often change the mailing address so the victim never receives a statement. The thief racks up thousands of dollars in purchases and the problem may not show up until the victim is denied credit or until it shows up on their credit record.

Credit Card Application Fraud – Shred Everything

While credit card application fraud may seem impossible to prevent, there is a lot you can do to safeguard your personal information from thieves. Remember, if they can’t get your information, they can’t accurately fill out a credit card application in your name. Make it a habit to shred everything, including junk mail before you put it out in the trash. Identity thieves see trash as a treasure trove of potential information. Shred bank and credit card statements, invoices, utility bills, medical bills, old or expired credit cards, drivers’ licenses and other forms of ID. Remove address labels from packaging materials and magazines before putting them in the recycle bin.

Credit Card Application Fraud – Protect Your Identity

Using care when giving out any personal information can help you to avoid credit card application fraud. Sometimes thieves, armed with a little information, will use that in an attempt to gain more information. They may call or email you, using your real name and stating they are from a company that you actually do business with. They may try to convince you that they need to verify your account number, password or other personal information. It’s important to remember that legitimate companies will never email or call you and ask for your account number or password. If there’s a problem they will ask you to call the number on the back of your credit card or bill.

Credit Card Application Fraud – You Can Win

Fortunately, there are laws in place that protect you if you do fall victim to credit card application fraud. If someone forges your name on a credit card application without your knowledge, you are not liable for any fraudulent charges made on that card since you would have no control over what another person does when they steal your identity to apply for credit. Still it may be of little consolation when you think of all the work involved in repairing your credit report and your good name. Just remember that you can repair the damage and win the battle against credit card application fraud.

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