can fraud affect my good credit ?

posted by askmrcredit on (6 years, 9 months ago)

Yes. Although you are not liable for fraudulent use of your credit, it can take a lot of time to prove the charges are not yours and to remove the fraudulent items and accounts from your credit history. To protect yourself before something bad happens:

  • keep a close watch on your credit cards, checks, savings passbooks and ATM cards.

  • don't keep all of your credit cards in your wallet—store them in a secure place and just take them along when you need them.

  • do not give out credit card account information to people who call you on the telephone.

  • in a safe place, keep a list of all account numbers and your creditors' phone numbers so that you can report lost or stolen ATM and credit cards immediately. This will help you limit your liability for charges that you did not make and protect your good credit history.

  • be particularly careful about how you dispose of unwanted credit offers that come in the mail. Destroy the offers when you throw them away.

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