When your credit card is stolen, your PIN is stolen, or someone opens a new credit card in your name, this is called credit card identity theft. All of these things can hurt your credit score. A credit score is not easy to fix, but there are a few things you can do to make the best of the situation and fix it as much as you can. In this article, we'll talk about what you should do before and after identity theft on your credit card to protect your credit score and get it back on track.
When you get a new credit card, the first thing you should do is make copies of both sides and put them away somewhere safe. So, if you lose your credit card or think it may have been used without your permission, you can stop it right away.
Ask for credit reports on your name often. These credit reports will tell you if anyone else has opened credit cards in your name that you don't know about. If a wrong card has been opened in your name, the sooner you find out about it, the sooner you can stop it and stop any damage from happening.
Carry only the credit cards you're going to use, and try to keep as few credit cards as possible.
If you lose your credit card or think that your credit card information may have been stolen and used in credit card identity theft, the first thing you should do is put a hold on the card or cards in question. Call the card issuer and tell them you think your credit card information may have been stolen. Ask them if they can stop all purchases on the card right away.
If you think your credit card information has been stolen, you should also call one of the credit card bureaus and tell them about it. They can then put a fraud alert on your credit report, which makes it harder for someone to open another account in your name.
File a complaint with the Federal Trade Commission and the police station near where your ID was stolen. Give them a copy of the form you filled out with the FTC. Identity theft protection can be learned more about at http://www.preventidentitythefthelp.com/Identity Theft Protection.
By taking these precautions and acting if you think you've been a victim of credit card identity theft, you'll be in a much better position to fix your credit score if something does go wrong, and you might even be able to stop it from getting too bad in the first place.
