If your receipt for a credit card or debit card for a point-of-sale (in-person) transaction contains more than the last five digits of your card number, or if it contains your expiration date, you may have a claim. The law governing this redaction requirement is designed to help prevent identity theft, which is a widespread problem.
Credit card fraud can have a devastating impact on both your finances and your credit rating. The Chicago fraud lawyers at Markoff Leinberger can protect your rights and help you undo the damage caused by deceptive practices or inaccurate credit reporting.
Some credit card companies resort to fraudulent and deceptive practices. Unfortunately, unsuspecting consumers can become victims of these practices every day. This constitutes credit card fraud, and it is important that the companies who commit these actions be held accountable in court.
This page will provide you with some basic information about credit card fraud, but it cannot advise you about your specific case. The best way to learn about your rights and options is to speak with our credit card fraud attorneys.
Please call 1-877-905-5161 today to schedule your free consultation.
Credit Card Fraud Tactics
Some credit card companies employ a variety of schemes in order to defraud their customers. Some of the most common tactics used include:
- Hidden fees – Excessive fees for cash advances, balance transfers, and other cash transactions are often buried in the fine print of card member agreements.
- Late fees – Some states can prohibit credit card companies from charging late fees. To bypass these laws, many companies will establish their headquarters in states that have more relaxed laws. If you are charged a late fee in a state that does not allow this practice, you may be able to file a claim against the credit card company.
- Masked APRs – Many credit card companies lure new customers with low introductory APRs, but often these are only short-term rates that mask a higher regular APR.
- Failure to properly credit past payments – Credit card companies often fail to record overdue payments in order to fraudulently collect additional fees.
- Double charging – You should always check your credit card statements carefully to make sure you were not charged twice for the same purchase.
- Charging for unknown items – Sometimes, charges may appear on your statement for purchases that were never made or received.
Markoff Leinberger Can Help
If you have been the victim of credit card fraud, you have rights. Federal and state laws, such as the Truth In Lending Act, Fair Credit Billing Act, Fair And Accurate Credit Transactions Act, adn the Fair Credit Reporting Act have been enacted to protect consumers from credit card fraud. Attorneys at our firm know the laws regulating the actions of credit card companies, and we will make sure they are held accountable for any fraudulent or deceptive practices committed against you.
If you believe you received a non-compliant receipt, please contact Markoff Leinberger online or call 1-877-905-5161 for a free evaluation. We serve clients in Chicago, Illinois, throughout the Midwest, and nationwide.