Credit Card Fraud
Discovering that your credit card has been used fraudulently is stressful. You’re worried about your finances, now and in the future. If you’re a victim of credit card fraud, Santander® Bank is here to help.
What is Credit Card Fraud?
There are several different types of credit card fraud. Your credit card could be used after being lost or stolen, whether in-person or online. You could also experience something referred to as “card-not-present fraud,” which is when somebody unlawfully uses your credit card number to make a purchase but doesn’t actually have physical access to the card.
You may also experience a more serious form of fraud, identity theft. Rather than using your current credit card number, identity theft is when somebody unlawfully uses your social security number, as well as other personal information, to open up a new credit card (or take part in other financial transactions.)
How to Detect Credit Card Fraud
While Santander Bank offers important security features to help protect your credit card information, like 24/7 real-time fraud monitoring, EMV chip technology, and Apple Pay, credit card fraud can happen. To best protect your finances, it’s important to detect credit card fraud early. Consider these steps to help you monitor your credit card account, and catch any unauthorized activity as soon as possible.
Review Your Statement Every Month
Whether you receive statements in the mail or opt to receive paperless statements, it’s important to carefully review your statement each month. Take the time to go over the list of charges made. If anything looks unfamiliar, confirm with any other cardholders for the account, and then get in touch to dispute a charge.
Set Up Digital Alerts
If you’re an online or mobile banking customer, you can set up a variety of digital alerts for your account. In addition to alerts specific to account security, you can also get alerted any time a transaction over a certain dollar amount is made. You can receive account alerts by email or text to help you monitor your account anytime, anywhere.
Log in to Online Banking Regularly
Reviewing your monthly statement is important, but you don’t have to wait to check what’s going on in your account. Log in to online banking to review your account history at any time. Consider making it part of your weekly routine – in addition to catching unauthorized transactions, it can also help you monitor your spending habits.
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Keep an Eye on Your Credit Score
Did you know you can check your credit score for free up to three times each year – once a year at each of the three credit bureaus ? Checking your credit card score may not flag an everyday unauthorized transaction, however it could be essential in identifying instances of identity theft. If you see a sudden decline in your credit score and don’t believe it was connected to your financial activity, follow the Federal Trade Commission’s step-by-step guide for reporting identity theft.
Learn more about how to monitor your credit score.
How to Dispute a Credit Card Charge
If you do believe there is an unauthorized charge on your account, it’s important to contact us immediately at 1-800-762-5895. As part of the Santander Online Banking Guarantee, you are protected against unauthorized online transactions as long as you check your statement and notify us of any unauthorized activity promptly – no matter how large or small the transaction.1 A Santander representative will walk you through any additional steps you need to take, which may include signing an affidavit at a local branch.
Learn more about how to dispute credit card charges from the Federal Trade Commission.
How to Report Credit Card Fraud
In addition to disputing unauthorized charges, if your credit card was lost or stolen you can take advantage of Santander Instant Card Hold, available online or in the mobile app, to immediately freeze any further activity on the account. If you find the card, you can turn it back on again just as easily. If you believe that the card is permanently lost or stolen, call us as soon as possible at -800-762-5895.
Learn more about what steps to take if your credit card is lost or stolen.
If you believe you are a victim of identity theft, call an Identity Theft Assistance Center representative at 1-877-906-7500, 7 days a week, from 8:00 a.m. to 10:00 p.m. EST. If you think your identity has been compromised for any reason, our Identity Theft Assistance Services will provide you with support in notifying the credit bureaus, having alerts placed on your credit file, canceling fraudulent cards, and replacing lost or stolen cards. You should also:
- Contact one of the three credit bureaus (Equifax, TransUnion, and Experian) to place a fraud alert on your account. Each credit bureau is legally required to notify the others of fraud, so you only need to contact one.
- File a police report at your local police station to help dispute any issues related to the theft.
- File a complaint with the Federal Trade Commission.
1 You must properly safeguard your PIN and promptly notify us of any unauthorized transactions. Please see the Unauthorized Use of Your Card or Account in your Card Agreement.