Credit card fraud significantly affects millions of Americans each year, with 63% of cardholders experiencing some form of fraud. Preventing fraud involves crucial steps, including avoiding debit cards that can drain checking accounts directly. Monitoring account activity is essential, yet over half of cardholders do not keep track, inadvertently leaving themselves open to greater risk. Signing up for fraud alerts can help catch suspicious transactions early. Awareness and proactive management of accounts serve as effective strategies for safeguarding personal finances against fraudulent activities.
Every year, about 62 million Americans experience credit card fraud, highlighting the need for vigilant account monitoring due to the alarming fraud rates among cardholders.
Two, be sure to monitor all of your accounts... about 56% of cardholders are not actively keeping track of their credit card activity, making them more vulnerable.
Don't use a debit card to pay for anything, if possible. If a thief gets a hold of this information, they can wipe out your checking account.
Always check your account statements. Even if you see a transaction for $1 that you don't recognize, dispute it, as this can indicate fraud.
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