Identity Theft Protection and ID Theft Prevention » Credit & Credit Reports

Credit Card Charged for One Dollar: Is this Identity Theft

Radek M. Gadek — Fri, 27 Jun 2008 20:06:11 +0000

Your credit card was charged one dollar and now you wonder if this is identity theft. This is a good type of “wonder” as you most likely didn’t charge anything that was worth $1.00.

The answer to: Credit Card Charged for One Dollar: Is this Identity Theft?

Before you contact your credit card company or your banking institution you might want to know that this maybe a normal charge. A 1 dollar charge on your credit or debit card often means you were at the gas station pumping gas and not handing over a dollar at a time to identity thieves.

Many gasoline stations like Shell, BP, Mobil, and others charge $1.00 onto your card until the full charge processes a few days later. If it is a weekend or a holiday your full fuel purchase may show up several days later. In my opinion gas stations do this to make sure that your credit card or debit card has the necessary credit or funds. So next time you freak out over a one dollar charge on your account remember it is temporary and it will be fully replaced with your fuel purchase. Just in case you wanted to know you won’t be paying a dollar extra for your fuel purchase, only what you paid for at the pump.

There have been identity theft cases where thieves would charge small amounts onto a credit card and then use larger transactions to fill up their pockets. If after 5 to 7 business days your one dollar charge doesn’t turn into a $60 gas purchase, you either bought something for a dollar on credit or you are getting scammed. If you have kids at home, or other persons who may be using your card, ask them if they charged anything on it before you start your own identity protection investigation. Kids in particular, may be the culprits charging your credit one dollar at a time.

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Prevent Identity Theft After Denied Credit

Radek M. Gadek — Thu, 26 Jun 2008 14:21:59 +0000

Yes, even the person that is denied credit can prevent identity theft soon after. Perhaps you have applied for credit and you were denied, how would you like to know about something that very few of us do. Did you know that according the the Federal Trade Commission (FTC) you are entitled to a free report if a company takes adverse action against you, such as denying your application for credit, insurance, or employment, based on information in your report. I think this is great news… oh and one more thing it is the law that this right is granted to you, of course in an effort to prevent identity fraud.

You don’t have forever though
In order to prevent identity theft after denied credit you must ask for your report within 60 days of receiving notice of the action. So if you are denied credit, insurance, or employment you will just have to get in touch with one or all the three major credit bureaus (depending which credit bureau was used to check your credit at the time of your application). Usually the notice should have the information about how to contact the entity.

Contact info for the big three
Equifax-800-685-1111
www.equifax.com

Experian-888-EXPERIAN (888-397-3742)
www.experian.com

TransUnion-800-916-8800
www.transunion.com

An added identity theft prevention bonus for some
Consumers in Colorado, Georgia, Maine, Maryland, Massachusetts, New Jersey, and Vermont have free access to their credit reports. If you live in any of the states thank your lawmakers as it is a state law to get a free credit report. Congratulations!

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Free Credit Reports Online Help Prevent Identity Theft

Radek M. Gadek — Sun, 22 Jun 2008 04:35:15 +0000

It’s true, free credit reports online help prevent identity theft. You may or may not know it, but the United States government mandated that the three major credit bureaus (Equifax, Experian, and TransUnion) provide you with a complimentary credit report annually. I think that this is a great initiative to prevent id theft. Since, there is no deal, no catch, no nothing… just a free credit report to help you find out what your dog bought himself for Christmas with your credit card… it can’t be anything more than great!

The free credit reports are available at www.annualcreditreport.com. Preventing identity theft is as easy as a 15 minute sit-down-session with you and your financial rap sheet. Make sure to look over any open, closed, and/or derogatory (negative) accounts you may have. As of this writing the credit card companies offer online dispute options just in case there are some forbidden mistakes in your report.

Remember preventing identity theft is not like going to the dentist. However, cleaning it up is like going down the financial plank at gun point. If this is your first time looking at your free credit report you will most likely find it addictive to check it every 4 months or so. Why every four months? In my opinion it is better to use up your free credit reports 1 every 4 months. That way you can better monitor your credit more often rather than just once a year by using up all 3 of them. There is really no specific report you have to start with, but try not to procrastinate in viewing it.

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