Credit Protection

You can never be too careful about your credit. Learn about your rights as a consumer and the best ways to protect your clean credit record.

Know your credit rights
If you're at least 18 years old, you cannot be denied a card based on your age, racial background, sex, marital status, religion, national origin, or participation in a public assistance program. A financial institution’s decision about issuing you a card must be based solely on your credit history and other personal information. Make sure you understand your credit report and check it often to verify its accuracy. For a quick overview on the types of information contained in your credit report, visit Reading Your Credit Report.

Protect your personal information
Never give out your credit card number, address, or phone number unless placing a telephone or mail order, or making a purchase online. Be sure online purchases are made on secure systems—look for clues such as a lock and key at the bottom left corner of your browser, a URL that begins https://, or the words Secure Sockets Layer (SSL). And don’t use your card as identification. Thieves can use this information to assume your identity and open bank accounts, make purchases, obtain cash, and even get a job or apartment.

If you suspect identity theft

• Call the fraud hotlines of all three national credit bureaus. Report the problem, request a "fraud alert," and ask for a free copy of your credit report.
  Equifax (800) 525-6285
  Experian (888) 397-3742
  TransUnion (800) 680-7289
• Call the fraud departments of your creditors. Contact your card issuers, other lenders, phone companies, and utility companies. Follow up each call with a letter describing the problem.
• File a complaint with the Federal Trade Commission (FTC). Call toll-free (877) ID-THEFT [(877) 438-4338], or visit https://rn.ftc.gov/pls/dod/wsolcq$.startup?Z_ORG_CODE=PU06&Z_CHK=0.

Know how to dispute a billing or purchase error
When you challenge a purchase or billing error, be sure to put everything in writing—including your account information and an explanation of the dispute—and note these requirements:

• Billing Errors: The Fair Credit Billing Act protects you in billing disputes with card issuers and certain other creditors. If you think you have found a mistake, write to the billing dispute address on your statement within sixty days after they send you the first bill containing the error. Note: You do not have to pay any amount in question during the investigation, but you are still obligated to pay any undisputed charges. Your card issuer is legally obligated to acknowledge your letter within thirty days, and must either correct the error or explain it to you in writing within two billing cycles.
• Purchase Disputes: According to the Truth-in-Lending Act, purchases eligible for dispute are goods and services that a) cost more than $50, b) have been purchased in your home state or within 100 miles of your mailing address, and c) are not yet paid. First try to resolve the dispute with the merchant. If that doesn’t work, contact your issuer in writing. (Keep in mind that this protection does not apply to amounts you have already paid on your credit card bill for the merchandise or service.)

Report stolen or lost cards immediately
Contact your financial institution to report the loss or theft and arrange for a replacement card to be mailed to you. You should keep a copy of your financial institution’s name, its customer service phone number, and your card account number in a convenient place-separate from your card.

©2007 Visa U.S.A. Inc . Reprinted with permission.