How to Identify and Report Credit Card Fraud

Credit card fraud is a common problem that might jeopardize your travel, everyday life, or business. Though possible, it is hard to protect oneself against credit card fraud. Also, you can still fall victim because of credit card skimming devices, data breaches, phishing schemes, malware on your PC, etc.

Here is how you can identify and report credit card fraud.

What is a Credit Card Fraud?

According to the FBI, credit card fraud uses a debit or credit card or any related payment tool to acquire property or money fraudulently. In simple terms, if someone manages to steal your credit or debit card information or preferably use the existing card account for transactions that you didn’t authorize, then that is termed as credit card fraud.

There are two primary ways in which credit card fraud can take place. In the first instance, you misplace or lose your credit card, and then someone uses it to complete transactions or purchase items that you did not authorize. These transactions can either be completed online or in person.

The next scenario is where someone steals your credit card PIN and account number and uses them to complete transactions or purchase items online or in-person without having to get a hold of the physical card.

How to Identify Credit Card Fraud

The only sure way to identify credit card fraud is by checking your account balance as frequently as possible. That way, you will be able to locate unfamiliar charges as soon as they are made. You must do this throughout the month because it is the quickest way to identify credit card fraud.

At least make sure that you review your monthly charges on the billing statement before settling your balance. Though PCI compliance has become a necessity, credit card fraud is still a common problem.

In case you have any authorized users on your account, you must ask them about all charges that are not familiar to you. If possible, request the authorized to submit receipts for all purchases they made in the month. You can use the details to determine whether there is fraudulent activity going on.

How to Report Credit Card Fraud

If you see that there are unauthorized transactions on your card, the best way to report is by contacting your card issuer. It is convenient to use the phone number on your card’s back because it is the official phone number.

However, if you don’t have the physical card with you, it is possible to find the issuer’s phone number right on the billing statement. Still, you can log in to your online account and find the company’s phone number.

Though there might be other ways to report the issue, you want to use the issuer’s phone number to avoid many security questions. Once someone answers the call, inform them that you have realized that there have been some unauthorized transactions on your card.

What Happens After Reporting the Fraud?

If you contact the issuer to report the fraud, the representative will ask you a few questions before deactivating the compromised card and card number. You will then be given a new card, which will always be delivered to your home address.

Suppose you urgently need the new card, say that to the representative, and assist you. Most of the time, calling the card issue should solve the problem. To avoid the problem from happening, keep an eye on bank statements and other accounts. If possible, change your passwords as regularly as possible, and make sure you can easily remember them.

Since you will be checking the credit report regularly, be sure to check for unfamiliar inquiries. In some cases, you will learn that there are accounts you didn’t authorize; report to the issuer as soon as you identify such problems.


Credit card fraud is a problem that has been around for many years. Though new technologies have been introduced to combat the problem, they might not be 100% effective. Some people might still manage to find your account passwords and use them to steal your card information. Therefore, use the details shared in this post to stay safe from credit card fraud.

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