Today, most people use credit cards routinely even though credit card scams are increasing.
Few people pay cash because credit cards are just so convenient. And even though fraud is increasing, the good news is that credit card theft is one of the easier crimes to prevent.
However it can be nerve-wracking to lose a credit card or find unauthorized charges on your credit card bill.
In the United States, federal law limits the liability of card holders to $50 in the event of theft, regardless of the amount that has been charged on the card.
However in practice, many banks will waive this small payment for good customers and simply remove the fraudulent charges from the customer's account.
Some banks require first that the customer signs an affidavit confirming that the charges are in fact fraudulent, and then they waiver the payment.
So it is important to protect your credit card, your credit card number, and your credit card sales slips to prevent credit card scams.
The main types of credit card scams include:
Please see the above pages to learn more about these scams.