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TIFFANY'S TAKE: DEALING WITH FRAUDULENT CREDIT CARD CHARGES

money management podcasts Sep 06, 2022

Every Tuesday, Tiffany answers one of your submitted questions. To submit a question for an upcoming episode, visit here: https://www.moneytalkwitht.com/asktiffany

Connect with Tiffany on Social Media

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LinkedIn: Tiffany Grant

Transcription:

Episode 130

[00:00:00] Intro/Outro: You know what it is. That's right. It's time to talk money with your money nerd and financial coach. Now tighten those purse strings and open those ears. It's the Money Talk with TIFF podcast.

[00:00:14] Tiffany Grant: Hey everyone. And welcome to another episode of the Money Talk with Tiff podcast. So today I'm doing things a little different. I will be doing solo episodes every Tuesday, answering your money questions. So the question that you hear today actually came from a listener just like yourself. And if you are interested in asking your money or business question, please go to www.money talk with t.com / ask Tiffany, there is a way to do a written question, or if you wanna go ahead and let me hear you. There is also a way for you to do a voice memo, and if you do a voice memo, I will play that live on the air. So if you don't wanna be known, just make sure that you don't say any Things that could [00:01:00] identify you. But other than that, everything is anonymous. And I look forward to hearing what you all have to say. So please go ahead and submit some questions or you can just DM me on social media and I'll take submissions that way too.

[00:01:14] So today's question is. Hey, Tiffany, someone close to me, used my credit card for a fraudulent charge without my permission. Interesting. What should I do? All right. So this is an interesting question. So it depends on how far you wanna take this now. If this is someone that is really close to you and you don't care about the relationship or what have you. The best thing to do is to go ahead and start criminal charges and things like that.

[00:01:46] And the reason I say that is because that is the best protection. So for instance, if you are trying to get your money back from the bank or from the credit card company, they might ask. Did you file charges? And if you [00:02:00] say, no, they may or may not give you your money back. So if this is someone close to you that, look, you know what you did, I'm going to, prosecute this to the fullest extent of the law. Then that is what you do. And the same thing goes for people that I know I've spoken to a few people where they're. Mom or dad or whomever, family member used their credit when they were a child. And so it messed their credit up as they got older in order to get that stuff off of your report without having to pay you would need to file a police report.

[00:02:32] Just keep that in mind. The next thing I would do. Oh. And also to file the police report if it was a online theft. So let's say for instance, someone used your card online for something you would go to IC3.gov again, that's Ic3.gov to file that report if it was for local theft. So like for instance, I had a situation where someone tried to give [00:03:00] me a fraudulent check.

[00:03:01] Okay. In person crazy, with their address on it and their name. Anyway with that, I filed a local police report at our, at my local police department. So depending on the situation, those are the two routes to go to file a. Report.

[00:03:16] Hey, it's Tiffany, are you interested in starting a podcast? We can get up to two months of free podcasting service from Libsyn with the code MoneyTalk get your show on apple podcasts and Spotify anywhere you want. Get critical stats to help you grow. Find all the tools and support you need to sound your very best and you can even do video, really bring your podcast to life with Libsyn you can use code again, MoneyTalk to get two months of free podcasting service. This is what I use to get my podcast to your listening ears. Enjoy

[00:03:54] Second. You wanna make sure you contact the credit card or bank? That way they can [00:04:00] start their investigation and it could be possible that they make press charges, but I always. Do it on your own as well. Just because you literally are the victim, it's your money. You need it now. No. But definitely contact the credit card company or the bank.

[00:04:15] So that way they can start their process and you can start getting your money back. The third thing I would do is to freeze my credit reports, because if this person can do something like that to you now, imagine if they got access to any of your other information and what you don't want is someone to buy a whole house or a car or something else in your name and you don't know about it.

[00:04:38] So what I do is I freeze my credit reports and I don't unfreeze 'em until I need them. It also helps me so that I don't have to use my credit irresponsibly. So if I'm at a car dealership one day and I'm like, Oh, I want this car. And they say, oh, we need to pull your credit. I have to sit there and go through the process of actually [00:05:00] unfreezing the credit, which I mean is not a big thing to do but unfreezing it, and it gives me some time to think about it. I would definitely do that as well. And what that does, it just protects your social security number if they did get ahold of that from them going and purchasing something else.

[00:05:17] So that's just some tips to get started on that situation. I am so sorry to hear that, and I wish you the best of luck on that, but hopefully. That all helps. And in order to freeze your credit reports, you would just go to each bureau individually. So you would go to TransUnion, you would go to Equifax, you'll go to Experian, and they have a section on their website where you could do a freeze.

[00:05:42] So you definitely wanna check that out. So hopefully that answers your question. And like I said, I'm so sorry to hear that. I hate. Hearing about scammers and especially people that you feel were close to you trying to get over. It sucks. I know. But [00:06:00] luckily there are tools in place for you to get your money back. There are tools in place to press charges and there are tools in place to protect yourself.

[00:06:08] Also, a bonus thing you might wanna do is invest in some credit monitoring. Now, if you freeze your report, you don't have to worry about anybody using it, going. Because it would have to get UN frozen to use, but if you wanna take that extra step and you wanna get some identity theft protection and monitoring, or what have you, you can do that as well. So hopefully that answers your question.

[00:06:32] Like I said, if you want me to answer your question, please go to www.moneytalkwitht.com/asktiffany. And I would love to answer it for you. All right. I hope you all have a wonderful rest of your day. Bye.

[00:06:48] Intro/Outro: Thank you for listening, joining, and being a part of the Money Talk with Tiff podcast this week, you can check Tiff out every Thursday for a new Money Talk podcast, but if you just can't wait until next week, you [00:07:00] can listen to previous podcast episodes at moneytalkwitht.com or follow Tiff on all social media platforms at MoneyTalkwithT until next time spend wise by spending less than you make a word to the money wise is always efficient.

 

 

 

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