Free Articles  >>  Business And Finance >>  Page 1726  >> 

St Louis Finance Experts Alert Borrowers About the Best 10 Ways to Avoid Credit and Debit Card Fraud

As borrowers we are bombarded with safety tips on how to protect our use of credit cards and now debit cards when we make transactions in person, on the phone or the Internet.

However, one may be caught totally off guard to know that identity theft can happen to you even when you still have your credit card or debt card in your possession.

There is a new kind of crime that is becoming more and more frequent called "skimming." Criminals are now taking full advantage of technology and can steal your credit card information at a moments notice.

Just recently reported by the St Louis Refinancing Group news team, skimming has received more news attention than ever due to banking incidents happening at Bank of America banks.

Criminals often use skimming tactics at retail establishments that would include gas stations, bars, restaurants and ATMs where credit and debit processing takes place.

Let's take for example an employee who decides to commit theft. They simply steal a customer's credit card information off the magnetic strip on the back doing so by means of scanning with a hand held electronic device.

Once they have your private financial information, they can now go on their dream shopping spree or sell your information to criminals where counterfeit cards are made.

Criminals are also targeting ATMs now. By using cameras or watching you as you key in your 4 digit pin code, these ruthless white collar thieves can now suck your bank dry.

Most consumers are unaware of the fraud that is perpetrated against them until their credit card or bank statement arrives in the mail and they see what purchases they did not make.

So, here are 10 tips to help keep your financial information private and safe:

1. Keep your personal information updated with your bank or financial institution. This is very important if an issue every occurs and you need to dispute any fraudulent charges.

2. In case your cards are ever lost or stolen, you absolute sure you have written down all customer service phone numbers found on the back of your cards and keep this list in a safe place.

3. If an ATM is in bad shape or run down, walk, no... run away! A sign of a dirty machine may signify that it is not working or may be a criminal clone wanting to steal your information.

4. Another tip that most consumers forget about is notifying your credit card company when you go on vacation and the destination of your travels. They can decline any suspicious charges much faster when they have this information.

5. Watch the signage at all ATMs. This may tip you off that something isn't right such as 'enter your PIN twice to complete transaction, etc.

6. If your bank(s) offers email banking alerts, make sure you sign up for them.

7. If an ATM appears to look damaged or has loose fitting parts, this may mean that someone has installed some type of skimming device.

8. Never do a transaction if suspicious or dangerous looking individuals are close by. Potential criminals may try to steal your cash or watch as you type your PIN number. If your card gets stuck in the ATM, call your bank and report the incident. If someone offers to help, just beware that it may be a scam artist wanting to get your financial information or perhaps harm you!

9. If you want to be extra sure no one is watching you type in your PIN number or capturing it on camera, cover the pin pad with your other hand thus blinding the onlooker.

10. Skimming can occur at any place accepting credit or debit cards. But more often than not, it occurs at retail locations such as a restaurant. It may be impossible to always do, but try to keep your card in sight when they do their processing. If they have to go to another counter or location of the store, follow them. And if you feel uncomfortable pay with cash or leave.

Another good piece of advice that was mentioned above is to check your balance on a regular basis when your statement arrives.

Consumers should also be aware that federal laws do not protect debit cards to the same degree as credit cards when it comes to fraud. So, use your credit card when possible or get a secured one to avoid headaches.

Always notify your bank or credit card company within two days of losing your cards. This may help limit your losses to $50. The worst thing you can do is prolong this needed phone call. You may end up suffering greater financial losses by waiting.
About Author Floyd J. Tapia :

Visit our website at <a href="" target="_blank"></a> to learn more about the best St Louis finance loan. Stop by Floyd J. Tapia's site at <a href="" target="_blank"></a> where you can find out about a St Louis refinancing mortgage. Or call us at 877-334-0210 or 314-334-0210.

Article Source:
Article Url:

Article Added on Thursday, October 13, 2011
Other Articles by Floyd J. Tapia

St Louis Mortgage Community Stunned at Home Owners Choosing Not to Pay Their Home Loans
Most experts would readily agree that the realty industry is in shambles. Yet, to much dismay, the number of Americans who are purposely not paying their mortgage loan is growing at a stunning rate. What was once a financial taboo by not faithfully paying one's mortgage payment is now becoming chic by many standards. Both national as well as local St Louis mortgage owners no longer wish to have the financial burden of what they legally owe. In fact, they are diverting their cash flow from...

St Louis Home Mortgage Owners 3 Great Credit Card Tips For 2010
With new banking regulations and provisions arising in our midst, the new credit card law that takes effect in 2010 will bring about new changes for credit card companies and cardholders alike. Credit card companies will be bound by tighter restrictions on rate hikes and fees as well as increased disclosure requirements will become mandatory. Along the same lines, borrowers will need to become familiar with these changes and key provisions in the law and what it ultimately means for...

St Louis Refinance Experts Say Home Loan Applicants May Not Receive Future USDA Loans
Once upon a time, their existed a federal mortgage program from the United States Department of Agriculture that would guarantee low down payments, no down payments and low interest rates for rural home buyers. However, with the stringent St Louis home mortgage lending requirements facing would be homeowners today, tens-of-thousands of potential buyers have been ushered into this program with promises of a better life, a better home loan in a financial fairytale land not so far away. Recent...

St Louis Finance Terms Will Get Harder For Home Buyers Who Walk Away From Their Mortgage
New legislation coming from Capitol Hill will allow Fannie Mae to take legal action against mortgage owners who did not make their house payments although they were fully capable of making them. The amount of foreclosures that most likely will happen this year will be at least 2.6 million. What is worse is that approximately 11 million owners are severely underwater as far as their homes are worth according to St Louis finance news. The term strategic default has come about as a direct result...

St Louis Refinancing Loan Watch Out For 3 Things That Could Ruin Your Home Loan
Your family has located the home of their dreams. You have your lending already taken care of and so you move ahead with signing a contract. But to your chagrin, you find out there will be delays at the closing table and wonder why is this happening to you? In most situations, the borrower has changed their lending circumstances along the way and that St Louis mortgage loan is history at least for now. Banking requirements are strict at this time due to the losses on Wall street and the...

St Louis Mortgage Consumers Here Are 5 More Innovative Home Buying and Refinance Tips
Although the St. Louis mortgage and real estate market has drastically changed over the last 18 months, there are ways that consumers can avoid or at least minimize the home buying stress factor. The following five simple yet ingenious tactics will help in making your St. Louis home loan and home buying experience a better one that will yield positive results. 1. Do not make the mistake by waiting to apply for your loan - Reports from Washington issued in early January announced that...

Distressed St Louis Mortgage Owners May Be Penalized For Saving Money
The St Louis mortgage industry is puzzled at the report coming from the United States Treasury Department stating that approximately 90,000 distressed homeowners may lose their federal mortgage funding that was made available by the foreclosure prevention programs. This report is not just for those who have yet to apply. The loss of monetary benefits includes those who have already completed their loan modification and have paid their lower payments on time every month. While some of these...

St Louis Finance Professionals Say Short Sales Being Encouraged by HAFA
It has been very difficult for Americans to keep track of all the federal bailout programs that were originally designed to halt this dying economy. Much to the chagrin of banks, short sales are getting more and more publicity and the financial blessings of being used to avoid foreclosure altogether. A short sale enables the homeowner to leave their home while not getting the devastating hit on their credit report compared to a foreclosure entry. Plus, the short sale can do much for the bank...

St Louis Refinancing 3 Major Mistakes To Avoid
When it comes to doing a St. Louis refinancing home loan, consumers can make their mortgage process a bit easier by avoiding these 3 mistakes that borrowers frequently make. 1. Interest Rate, Interest Rate, Interest Rate One of the biggest mistakes any homeowner can make when contemplating a refinancing is solely basing their decision on current interest rates. Of course, getting a lower rate can indeed save you large amounts of money over the life of the loan not to mention an immediate...

St Louis Mortgage Industry Says Tax Credit Stimulus a Disappointment
Although this comes as no surprise to consumers, this country has experienced a major financial setback both in the real estate housing industry, the stock market and now we face some of the highest unemployment rates in decades. St Louis home loan professionals have feared that with unemployment escalating, there may not be any good news in the near future for the housing industry and that the expiring home buyer's tax credit as a complete failure. However, to the great disappointment of...

Click here to see More Articles by Floyd J. Tapia
Publishers / Webmasters
Article ID: 328702
DELINK URL from Authors Bio
REMOVE Article
Tell A Friend
Leave A Comment!
Download this article in PDF
Report Article!
Search through all the articles:

291 Users Online!!
Related Articles:
Latest Articles:
Business And Finance >> Top 50 Articles on Business And Finance
Category - >
Advertising Advice Affiliate Programs Automobiles
Be Your Own Mentor Careers Communication Consumers
CopyWriting Crime Domain Names DoT com Entrepreneur Corner
Ebooks Ecommerce Education Email
Entertainment Environment Family Finance And Business
Food & Drink Gardening Health & Fitness Hobbies
Home Business Home Improvement Humour House Holds
Internet And Computers Kiddos and Teens Legal Matters Mail Order
Management Marketing Marriage MetaPhysical
Motivational MultiMedia Multi Level Marketing NewsLetters
Pets Psychology Religion Parenting
Politics Sales Science Search Engine Optimization
Site Promotion Sports Technology Travel
Web Development Web Hosting WeightLoss Women's Corner
Writing Miscellaneous Articles Real Estate Arts And Crafts

Disclaimer: The information presented and opinions expressed in the articles are those of the authors
and do not necessarily represent the views of and/or its owners.

Copyright AwareINDIA. All rights reserved || Privacy Policy || Terms Of Use || Author Guidelines || Free Articles
FAQs Link To Us || Submit An Article || Free Downloads|| Contact Us || Site Map  || Advertise with Us ||
Click here for Special webhosting packages for visitors of this website only!
Vastu Shastra

Virtual Linux Server Hosting Provided By AwareIndia

Company IDS