CONSUMER ALERT...REVIEREVIEW YOUR BANK AND CREDIT CARD STATEMENTS CAREFULLY
CONSUMER ALERT...REVIEW YOUR BANK AND CREDIT CARD STATEMENTS CAREFULLY
Alert! Alert! Having just completed my monthly checking account statement review, I noticed an unrecognizable debit card charge. Knowing that I don't use that vendor, I called my bank. Someone, that day, had fraudulantly placed 3 more charges on my debit card...with that same vendor!. Obviously, without the card leaving my possession, my number had been stolen. Being a VISA debit card, my bank turned this incident over to VISA's fraud division to investigate. Apparently, I'll get a temporary credit for all four charges in a letter and can add the money back into my account then. In the meantime, the purchases remain as charges on my account. VISA may, or may not, catch the culprit. The bank stopped my current debit card and ordered a renewal arriving in 7-10 days. Bottom line? Several financial advisors are now recommending that we use a credit card instead of debit. The latest problems are tied to debit card info theft. Apparently, credit cards are more difficult to hack. None of this is to suggest that consumers should relax when reviewing their credit card statement. Everyone needs to review all statements received from banks and credit card companies to ensure that you don't become a victim of schemes which steal your money. I recently closed a credit card account because they had been trying for months to collect a bogus late charge on a payment delayed over two weeks by USPS, and, then, repeatedly tacked on interest charges on that late fee. After canceling the account, their corporate office sent me a letter indicating that the late, and subsequent interest charges, had been forgiven!
