Reporting Credit Card Fraud

Reporting credit card fraud to the police and to the issuer of the card immediately upon discovery is an important step in stopping the person who has stolen an individuals credit information. It is vital to get a copy of the incident report from the Police Department, and ask the issuer for a new card when filing a report. The next step is reporting to a credit bureau that fraud has taken place. Preparing an affidavit of forgery, explaining what has taken place and sending originals to the creditor, bank, and to the bureau to establish innocence must be completed. Next, contacting the Social Security Administration will be necessary if someone is using the individuals Social Security number for employment purposes.

Speaking with a representative from the Victim Assistance Department will allow them to place a fraud alert in the individuals file. The chosen bureau that is contacted (TransUnion, Equifax, or Experian) will submit the alert to the others. Reporting to a credit bureau will result in the following actions: They will make the consumer aware of any recent inquiries or accounts that are new to their file. The individual can then identify any that should not be there, and the bureau will give the names, addresses and phone numbers for reporting credit card fraud to each of them. After completing a report, each bureau will mail a copy of the consumers credit report to the individual. This will result in the agencies sending the consumer a dispute form and educational material advising them of responsibilities, and how to prevent this from happening again. "My son, let not them depart from thine eyes: keep sound wisdom and discretion" (Proverbs 3:21).

Information provided by the consumer advises grantors to check for recent applications or opened accounts with the victim's identifying information, thus approaching the fraud from both the consumer's and grantor's perspectives. This way, further fraud can be prevented. After reporting to a credit bureau, that bureau and the others will investigate any disputed information to restore the individuals financial file to its accurate state. While reporting credit card fraud to creditors will help restore a consumers good financial standing, it is better to avoid the problem by taking precautions. The individual should not carry all cards, and should never carry a Social Security card, birth certificate, or passport except when necessary. Scrutinizing all credit card bills as soon as they are received will allow the consumer to determine if any charges are wrong. This situation can be devastating to an individual, both financially and emotionally, if it is not found and solved quickly.

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