Am I Entitled To A Refund From My Bank For Credit Card Fraud ?  

With the increased usage of internet for financial transactions, crimes like credit card fraud is also on the rise. For a credit company, every year credit card frauds cause a loss of billion of dollars. The perpetrators are often different and they misuse the credit cards or sign up for new accounts through identity theft.

There are two kinds of misuse that can happen when it comes to credit cards. The rules of credit cards vary depending on the case. Credit card companies take many steps to ensure that the customer’s information is safe with them and they also use complex security systems. There are several ways to ensure that your credit card is not used by someone else in the online system.

As soon as you realize that the credit card is being misused, you need to notify the credit card company at once. They will lock the card and issue a new card to you. If the credit card company realizes that you have not been careful about informing about the theft or loss immediately, then they may not refund the amount. That is why you should regularly keep a note of online purchases and also avoid having too many credit cards. You should also sign up for security tips like receiving an email or SMS every time your credit card has been used. However, the credit card company will decide after through investigation if you are eligible for a refund or not. Also, your plea would only be considered if you notified them on time.

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Am I Entitled To A Refund From My Bank For Credit Card Fraud

Credit-Card-Fraud-Statistics-In-United-States      Credit card fraud is at an all time high in the US and for the last few decades the statistics only have been increasing consistently. These days everyone uses credit card for transacting. The number of credit card frauds is also increasing as a result. More..




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