Protect yuorself from credit card fraud
This advice on credit versus debit card for making purchases, from Cynthia Scott of OMC Financial:
>Cyber Fraud is a growing industry, with Michael's Arts & Crafts and SONY the latest to see client credit card information stolen.
>Skimmers are attached to checkout devices, recording credit card and PIN numbers, that can be used for theft.
>Many VISA and MasterCards can be used either for debit or credit transactions
>Debit cards instantly remove funds from your account, while credit card purchases are charged and billed later
>Credit Card companies track spending and purchase patterns, so they alert a client if there is suspicous spending. Banks do not offer the same protection.
>Banks are not responsible after 60 days if there has been a fraudulent withdrawal. Credit card companies do not have the limit.
>Both debit & credit cards place holds on an account for more thanpurchase amounts, so your account may be unavailable temporarily if you're 'over your limit.'
>Fraud alert companies only track suspicious activity.
>In the last five years, credit card fraud has gone from $600billion to almost $800billion annually
>Check your bank account weekly to ensure all is in order.
