Credit card fraud, common in today's digital age, can lead to financial losses and damage your credit score.
Unauthorized charges from fraud can impact your payment history, credit utilization rate, and average age of accounts, all affecting your credit score.
Quickly disputing fraudulent charges is crucial to prevent negative impacts on your credit report.
To prevent credit card fraud, review statements regularly, use strong passwords, enable 2FA, and avoid sharing details over unsecured networks.
Reporting unauthorized charges promptly to your card issuer can limit the damage to your credit score.
Consider freezing your credit with major bureaus if you suspect your information has been compromised.
In case of credit card fraud, dispute charges with your issuer, work on repairing credit, and set up fraud alerts for protection.
Utilizing credit repair services and monitoring credit activity can help in recovering from credit card fraud.
By taking proactive steps and staying vigilant, you can safeguard your credit and minimize the impact of fraud on your financial well-being.