According to a research conducted by the Federal Trade Commission Credit, card fraud damages are costing Americans more USD 1 billion a year, and that amount is growing.
Once a cardholder realizes they have been a victim of fraud, especially if that information is used to pay bills or shop online, victims need to address their account’s security. The faster cardholders recognize fraud on their accounts, and notify their bank or card company, the faster they can get a refund to their account.
Credit card applications represent a prime source for thieves to get a person’s information. If someone has several cards, by only travelling with cards that are expected to be used, one will prevent all accounts from being exposed at once.
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