Be on Guard for Holiday Credit Card Fraud

The holiday season is one of the heaviest credit card fraud seasons. Thieves prey on unsuspecting shoppers, lifting their credit card information, or even the cards themselves, when their owners least expect it. Credit card fraud can be difficult to detect and expensive to fight. Preventing fraud is the best approach to dealing with credit card fraud during the holidays.

Purse and Wallet Safety

Ladies, when you’re holiday shopping, wear a purse with short straps. One that sits directly under your arm is ideal to prevent purse snatching. If your purse hangs down near your waist or hips, it’s easier for someone to snatch it away from you or pickpocket you.
Guys, it’s unusual, but safer, to keep your wallet in your front pockets while you’re shopping. Keeping your wallet in your back pockets makes it easy for thieves to sneak your wallet away from you.

Keep Credit Cards to a Minimum

Shop with only one or two credit cards. The more credit cards you have, the harder it is to keep up with them and the easier it is for one or more of them to be stolen.

Use Credit Cards Over Debit and Check Cards

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I recommend doing your holiday shopping using a credit card rather than a debit card or check card. If someone makes purchases on your stolen check card, the money immediately comes out of your account. It could take a few days for the money to be credited back to your account. You can dispute fraudulent credit card charges with your card issuer without having to be personally liable for the charges. Just make sure you pay off the credit card balance when you’re done shopping.

Protect Your Credit Card

Keep an eye on your credit card in stores. Don’t take it out until you’re ready to have it swiped. With digital cameras and camera phones, sneaky thieves could photograph your credit card and use the information to make purchases online. Always double check to be sure you get your credit card back after using it.

Check Your Statements for Theft

Check your billing statement frequently, especially if you can check it online. That will give you an early clue if your credit card has been compromised.

Report Lost or Stolen Cards Immediately

Reporting your stolen credit card before the thief has a chance to use it lets you off the hook for any fraudulent charges made. If you wait, you could be liable for up to $50 of the purchases.

3 Ways to Keep a Low Interest Rate - Money Now! USA 11-17-2008

Your interest rate is important because it directly influences the cost of your credit card. When you carry a balance beyond the grace period, your card issuer applies a finance charge, which is essentially your interest rate multiplied by your balance. The higher your interest rate, the higher your finance charges will be.
Even if you start out with a low interest rate, it could increase. Sometimes interest rate increases are out of your control, like when the issuer raises your rate because of market conditions. Other times, it’s your actions that cause your interest rate to go up. Here are things you can do to keep a low interest rate.


Pay your credit card bill on time every month. All it takes is one late payment to have your credit card issuer enact the default rate on your credit card. Keep paying your credit card bill on time, even if it’s just the minimum payment. If your due date falls on a weekend or holiday, plan to have your payment arrive before the due date.

Keep your credit card balances low. Maxing out your credit card is another surefire way to get higher interest rate. Credit card issuers see high credit card balances as a risk. So, to compensate for your increased risk, they require you to pay higher interest on your balance. It’s a good idea to keep your balance below 30% of your credit limit at all times.

Don’t bounce your credit card payment. When you write the check for your credit card payment, make sure there’s enough money in your checking account to cover it. Not only that, should make sure other outstanding checks or debits aren’t going to deplete your account. Enrolling in your bank’s overdraft protection program can prevent bounced checks.
Make sure you’re managing your other credit cards, too. Many credit card issuers have a universal default clause that allows them to increase your interest rate even when you’re late on another credit card payment.