Card fraud involves a criminal stealing a debit card, credit card, or all of either card’s details. Once somebody steals your card or card information, they often try to make large purchases quickly.
For credit card fraud, consumers receive protection under the Fair Credit Billing Act (FCBA). Some credit card issuers allow you to dispute errors electronically or over the phone. Others require you to send a notice for the errors on your statement physically.
Credit card fraud occurs when someone uses your credit card without your permission. It could be a stranger who stole your card or someone you know who “borrowed” your card without your knowledge.
It’s safer to use a credit card for online shopping because if someone steals your card information online, they won’t have access to the money held in your checking account.
The credit card issuer or the merchant is on the hook for the costs depending on the fraudulent transactions. Unless, of course, the scammer is caught.