What is credit fraud?

Should You Be Worried About Credit Card Fraud and Identity Theft?

According to credit fraud statistics, credit fraud and identity theft are a small part of overall credit card spending in the United States. Losses due to default far exceed those caused by fraud. However, if credit fraud or identity theft happens to you, it can be overwhelming. Victims may be protected financially, but they are forced to experience major inconvenience. Ultimately, we all pay for credit card fraud in terms of higher prices, higher interest rates and extra inconvenience.

 


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