Dispute Credit Card Fraudulent Transaction

You just received your monthly credit card statements by email and are surprised about several transactions you don't recognize.

Analyze what happened

After inspecting the details you come to the conclusion you are a victim of identity theft in which your credit card data was used to buy several expensive products on an online website without your authorization. Help! What to do now?

Act immediately

The first thing to do is contacting your bank or credit card agency to immediately block your credit card and report the fraudulent charge. It’s your responsibility to find and report these charges as quickly as possible to minimize your liability.

Know your rights!

By law, you can be liable for up to $50 of unauthorized charges made before you reported a missing credit card, but many credit card issuers have zero fraud liability policies that remove your liability for fraudulent charges. In addition, the Fair Credit Billing Act says that you’ll never be liable for unauthorized charges made while your card was in your possession. In other words, if the unauthorized charges were made with your credit card account information rather than your credit card, you won’t be held liable as long as you still have physical possession of your credit card.

The sample letter can be included to formally inform the bank. Send this letter besides calling and emailing them just in case that at the end there is trouble with reimbursement.