How Minnesota Consumers Can Benefit from Credit Cards with “On and Off” Switches

Some credit cards now come with “on and off switches,” and here are a few the ways that Minnesota consumers can benefit from this new technology.

When Minnesota consumers temporarily misplace their credit cards. Then, they often go through the hassle of canceling and replacing cards, only to find the original ones later. However, issuers offer a way to make it easier for consumers in Minnesota to deal with missing payment cards. Participating banks and credit card companies allow consumers to instantly turn cards off and on right from their phones. This allows cardholders to protect potentially compromised credit cards and debit cards without cancelling them completely. So, as tools against identity theft, “on and off switches” for credit cards may work well for Minnesota consumers who want casual, everyday protection.

The Companies that Offer “On and Off” Switches for Credit Cards, and How They Protect Minnesota Consumers Against Identity Theft

Minnesota consumers who carry debit cards from Bank of America and credit cards from Capital One have access to on and off switches. Citi Bank also offers this feature with all debit and credit cards. And Discover cards come with a unique “Freeze it” feature. In addition, other banks and credit card issuers have announced that they will introduce the technology later in the year.

Unfortunately, fraudulent credit card transactions are at an all-time high, topping $8 billion in 2017. However, if Minnesota debit and credit card users know about their ability to freeze and unfreeze their credit cards, they can guard themselves against scammers. After all, they can freeze and unfreeze their credit reports in order to deter identity theft. So, it makes sense that payment cards should come with the same protections.

With most debit and credit cards, when consumers freeze them, issuers decline all attempted purchases until consumers re-activate cards. Yet, established, recurring payments will still go through. This prevents missed automatic payments on bills and subscription services. Also, consumers can temporarily shut down payment cards for free when they suspect fraud. Or, cardholders can simply lock their debit and credit cards every night.

Why Minnesota Consumers Should Take Extra Measures Against Identity Theft and Credit Card Fraud

Minnesota consumers should find out whether or not their debit and credit cards have on and off switches. This way, they can use them when necessary. However, even if consumers in Minnesota use this feature, they should take additional actions to prevent identity theft and credit card fraud. For example, card users should avoid giving out payment information over the phone or via email. Unless you know and trust the recipient 100%, don’t provide your data. In addition, never shop online while using public Wi-Fi, and only share your payment information with secure websites.

Finally, all Minnesota consumers who use debit and credit cards should regularly check their financial statements and credit reports. Sadly, you can take every possible precaution against identity theft and credit card fraud, and scammers may still gain access to your sensitive information. Yet, you can minimize financial and credit score damage caused by fraud and identity theft by catching it quickly.

Why Checking Your Financial Statements and Credit Reports is a Good Defense Against Identity Theft and Credit Card Fraud in Minnesota

The best way to do this is to check your bank and credit cards statements weekly – or even daily if possible. Then, review your credit reports from each of the three major credit bureaus at least once every 12 months. This is how frequently the Fair and Accurate Credit Transactions Act (FACTA) allows all consumers to request free copies of their credit reports from TransUnion, Equifax, and Experian. Gain access to all three in one place by visiting www.annualcreditreport.com.

Then, while looking over your credit reports, if you spot signs of identity theft, such as fraudulent transactions or bogus accounts, file a police report immediately. You will need a copy of this report in order to fully recover your credit reports from identity theft damage. Next, contact Credit Repair Lawyers of America in Minnesota. Instead of dealing with creditors and the credit bureaus on your own, let our team of credit pros do the work for you. Plus, when you trust our firm with your identity theft recovery, an experienced credit attorney will do whatever it takes to get all fraudulent items removed from your credit reports – legally and for free.

The Free and Legal way to Get Better Credit After Identity Theft in Minnesota

Don’t let identity theft damage on your credit reports bring your credit score down. At Credit Repair Lawyers of America, we’ve been cleaning up credit reports for consumers since 2008 for free. How do we do it? The law allows us to collect our fees and costs from the defendants in any successful action.  This is why our clients pay nothing for the work we do.

Let’s start the conversation about what we can do for your credit. Set up your free consultation today by calling Attorney Gary Nitzkin at (612) 235-4458 or sending him a message through our contact page.

For more information about Free Credit Repair After Identity Theft, please visit https://creditrepairlawyersam.com/minnesota/id-theft/.