You reach into your purse or pocket and it's gone.
By David Weedmark - Updated November 28, When thieves steal a credit card or a credit card number, there are usually three things they might do with it: Often, a thief or a series of thieves may do all three.
Tip Credit card fraudsters may use stolen credit card information to buy things, either in store or online, but they may also use the info they steal to open new credit cards in your name, or they may sell the information to other thieves. Some will do all three.
Professional Thieves If an amateur thief steals a credit card from someone's wallet, there's usually not too much that person can do with it. He might make a few purchases in a store or online, but once the victim realizes the card is missing, the card is cancelled and the thief's spending spree is over.
An amateur thief has a good chance of getting arrested when he presents a stolen card to a store clerk. Professional thieves can do much more with a credit card by stealing its information, usually online, without the victim ever knowing about it.
If you see a website you haven't heard of before, offering deals that are too good to be true, or get an email asking for your credit card information, this may be a thief trying to get your credit card information.
Credit Card Thieves May Buy and Sell Merchandise for Profit Perhaps the most straightforward way thieves make money from stolen credit cards is to buy things. They can go to a store, or shop for things online using your name. A large part of their scheme was using stolen credit cards to buy items like transit passes, gift cards, baby care items, computers and movie tickets.
They then sold the purchased goods on the internet using eBay, Craigslist and websites they set up themselves, making a profit because it cost them nothing to buy the goods in the first place.
Credit Card Thieves Might Apply for New Credit Cards With someone's credit card information and other personal details about that person, thieves can apply for other credit cards in that person's name.
Because the theft victim never sees the statements, she may never know about this until she looks at her credit report, or the credit card companies track her down to ask when she will be paying them back. While you can't generally open a new credit card without a Social Security number, a resourceful thief who stole your credit card information by hacking into a computer system has likely also stolen all the accompanying information, including your Social Security number, your address and your driver's license number.Using Your Credit Card.
Of course, once a thief has your credit card, the hardest part is done. Now all they need to do is use it (or sell it). Banks want you to think that your credit card transactions are very secure, but a quick trip to the store makes it clear that anyone with your card could use it .
Advantages of a Stored Value Card: No credit check needed, since you're using your own money. You can get cards for the whole family, and have control over the spending limits of each. Uninterrupted access to your funds if your card is lost or stolen when you take a second back up card with you.
The last word: What currency items I take to Europe. Oct 11, · There is no reason to worry about your credit card number being stolen from Moneybookers. It just will not happen. Nor will a virus "get your number from the Minecraft site".
Mainly because viruses don't actually work like that (A virus on your computer won't be able to access a highly secure banking network in Europe.)Status: Resolved.
Far and away the easiest credit card to obtain — and, arguably, one of the safest — is a secured credit card. Made for credit builders (or re builders, as the case may be), secured credit cards require an initial deposit to open the account.
The Fair Credit Billing Act caps your liability for unauthorized credit card purchases at $50, and many credit card issuers lower this to $0. If you report a lost or stolen card before it is used, your .
Keep your information secure from roommates or workers who come into your home. Limit what you carry.
When you go out, take only the identification, credit, and debit cards you need. Leave your Social Security card at home. Make a copy of your Medicare card and black out all .