Credit repair service
Before throwing light on the online safety of credit cards, first we must understand that What is a Credit Card" A credit card is a thin plastic card which is usually 3-1/8 inches by 2-1/8 inches in size that contains identification information such as a signature, picture, and authorizes the person named on it to charge purchases or services to his account charges for which he will be billed periodically. The information on the credit repair service is read by automated teller machines (ATMs), store readers, and bank and Internet computers.
How a credit cards works:
When a person makes his purchases, he presents his credit card to the owner or retailer of the shop. Retailer checks the number on the card against the lists provided to him by the bank. It is the authencity test which proves that the card holder is the genuine holder of the card. After confirmation, the card holder signs on the slip which is generated by credit card machine. The signature has to tally with the one on the credit card.
The retailer in order to realize cash presents the required sales credit repair service voucher to the bank which in turn reimburses it for the customer's purchases.
Bank charges a commission from the retailer.
Online safety of credit cards:
The numbers of credit repair service users are increasing. Many cyber- caf* owners continue to offer a free order number so that shoppers have the choice of calling their purchase order. Online shopping is convenient for every one who can afford it and many people always shop online. But credit-card fraud has become a threat both on the Internet and in the real world. Hackers have found intelligent ways to steal credit-card numbers from Web sites by using various programming techniques and technologies to earn huge amounts of money.
An example can be cited to illustrate it. A network TV reporter, tipped off about slack security on an Internet Web-hosting site, was able to get access to about 1,500 consumer records, which included the lot from credit-card numbers and payment records to comments about particular customers.
To prevent hackers, Internet companies have taken the responsibility for security breaches and the resulting losses to credit-card users, but still there remains the growing problem of people who use stolen credit cards to make purchases on the Internet. Undue or false practices by credit-card companies are not commonplace. The good news is in case of credit-card fraud online or off consumers are protected by law -- you are only liable for a maximum of $50 of the amount stolen.
*The Federal Trade Commission (FTC) and the media are watching closely. In 1994, the FTC ordered TransUnion credit-reporting bureau to stop selling "sensitive" consumer data -- data on 160 million Americans -- to junk-mail producers. The FTC charged that TransUnion violated the Fair Credit Reporting Act by selling consumer information to target marketers who lack any of the allowable purposes listed under the act. TransUnion rebuffs that it sold information that could have an effect on customers' appealed the FTC's ruling, but lost.
Various protective measures:
Pay attention when you're completing that credit repair service application if the mailing-list issue bothers you -- and it bothers most of us. The selling of your information to mailing lists can be checked to allow or disallow via some application forms that now provide a box wherein you can do so. You can also protect yourself by taking your name off the credit bureaus' mailing lists by visiting The Consumer Credit Reporting Industry Opt-Out Prescreen Web site. On this site you can fill out a form and opt-out of getting pre-approved credit or insurance offers in the mail. You can also call 888-5-OPT-OUT (888-567-8688). Otherwise, you can write to the key credit card bureaus and request that your name be deleted from their mailing lists.*
The Direct Marketing Association (DMA) tracks consumers who prefer not to receive solicitations by mail or phone. Check their Consumer Assistance site for more information. To protect yourself and your credit card there are a lot of simple steps you can take -- starting with making sure you sign it as soon as it arrives in the mail.
These tips are important and universal:
* Sign your card -- as soon as you receive it! (Obviously, this is only as useful as the clerk who's checking it.)
* Enter your PIN in such a way that no one can easily memorize your keystrokes when you use your card at an ATM.
* Don't leave your receipt behind at the ATM.
You are vulnerable to credit-card fraud when you use your PIN and account number from a discarded receipt. Also without first shredding them, don't throw out your credit-card statement, receipts or carbons!
* Never give your credit-card number over the telephone unless you initiated the call.
Never give your card number out over a cordless phone when you place the call to a legitimate merchant. Radio scanners that eavesdrop on these conversations are available for a few hundred dollars at any electronics store, and from a far greater distance than the maximum useful range of your cordless phone your voice can be received by one. One widespread scam is when somebody calls you "back" right after you set an order, claims to be from the merchant and tells you that there was a problem with your card number -- would you mind giving it to them again* The best thing to do is call the merchant back at the number you used originally after asking the caller for a contact name.
* pay no attention to any credit-card offer that wants you to spend money up-front or fails to divulge the identity of the card issuer.
* Make certain you get your card back after you make a purchase (one habit to observe is to leave your wallet open in your hand until you have the card back). Also, make sure that any voided or cancelled sales slips are personally ripped up.
* At all times keep a list of your credit cards, credit-card numbers and toll-free numbers
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