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Security
Basics-- Things you can do
- To protect yourself against
loss or theft of credit, sign your credit card immediately so no one else can
use it. File the papers that came with your card in a safe place.
-
Always protect your credit cards as if they were cash. Just like cash, credit
card numbers can be stolen.
- If your credit card has a PIN
(personal identification number), do not keep your PIN with your credit card.
File the PIN separately.
- Keep your account number to yourself.
Give your credit card number or expiration date over the telephone only if you
know you are dealing with a reputable company.
- Never put your
account number on the outside of an envelope or on a postcard.
-
Draw a line through blank spaces on charge slips above the total so the amount
cannot be changed.
- Keep copies of sales slips and compare
charges when your monthly statements arrive. If you see any questionable charges
or errors, you must report these, in writing, to the card issuer, within 60 days.
- Make a record of your credit card numbers, their expiration
dates, and the telephone number for each credit card company in case of an emergency
such as reporting lost cards.
- Carry only those credit cards
you regularly need, especially when traveling.
- Never give
out additional personal information when you use your card for purchases. Merchants
cannot ask for a driver's license number or phone number as a condition for accepting
your card. All that's required is your signature.
- Never use
a credit card as personal identification. Your credit privileges and history are
too precious to risk.
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Errors on your
credit card bill Under the Fair Credit Billing Act, you are protected
whether you use your card online, over the phone, through the mail, in person
or at a store. If you find any questionable charges or billing errors on your
monthly credit or charge card statement, you may dispute the item and provided
you follow the guidelines for resolving a dispute you may withhold payment for
that amount while the issue is being researched. The issue might be a charge for
the wrong amount, for something you didn't accept, or for a product or service
that wasn't provided. To dispute a charge on your credit card: - Write
to the creditor and include your name, address, credit card number, and a description
of the billing error. Look for instructions on the back of your billing statement.
- Send your letter as soon as possible. You must notify the card
issuer in writing within 60 days after the first bill containing the error was
mailed to you. In your letter, include your name and account number, the amount
of the error, and the reason you believe there is an error. The card issuer will
then investigate the problem and either correct it or explain why the original
bill was correct. The issuer's response must occur within two billing cycles but
no later than 90 days after the issuer receives your billing error notice. Although
you do not have to pay the amount in question during the investigation, you are
still responsible for payment on the remaining balance.
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If your credit card is used without your authorization,
the most you can be held liable for is $50 per card. Many credit card issuers
offer a "Zero Liability" policy, which removes your obligation to pay for any
charges. But different issuers have different policies. Either way, if you report
the loss of a card before it is used, the credit card issuer cannot hold you responsible
for any unauthorized charges. It is important to safeguard your cards and
account numbers, and to review your statements promptly. If you suspect unauthorized
activity on your account, or if your card is lost or stolen, contact the financial
institution that issued the card as soon as possible. [back
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Cybershopping—Protect
yourself online Whether you're interested in computer software or
compact discs, online shopping can give new meaning to convenience and choice.
Should you decide to pay by credit card, your online transaction will be protected
by the Fair Credit Billing Act just as other transactions. But before you visit
your favorite online store, take care to make your cybershopping experience safe.
Security is a must and begins with your connection and your browser. Unsecured
information sent over the Internet can be intercepted. That's why a secure browser—one
that encrypts or scrambles purchase information—is important. If you're
unsure if your browser is secure, check with your Internet service provider. When
you're ready to make an online purchase, pay close attention to the information
you need to enter. Be cautious if you're asked to supply personal information
such as your Social Security number or your mother's maiden name. If you have
any doubts, cancel your order immediately. [back
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