4 Ways to Fix a Hacked Credit Card
Four simple steps on what to do if and when this happens.
Have you bought something form Target lately? Target Corporation announced that a whopping 40 million credit and debit card accounts were breached over the holiday shopping season by online hackers. According to reports, cybercriminals broke into the retailer's online database the day before Thanksgiving.
The retail giant said that hackers had accessed customer names, credit or debit card numbers, expiration dates and three-digit security codes for 40 million customers who had shopped at its stores. Online customers were not affected by the breach.
The company has put "appropriate resources" into the issue and has informed authorities about the situation. Target has teamed with a third-party forensics firm to investigate and prevent future breaches.
What to do when your credit card is hacked
1. Check your statements. If you bought something from Target recently, please check your statements carefully. As CNNMoney advices, "Don't just look for large charges, either. Hackers often ping an account with micropayments of only a few cents to check the viability of the account. So if you see purchases of 6 cents or 11 cents, that could be a sign your information has been compromised."
2. Report it right away. Don't wait for someone to call you. If you see suspicious charges, report it to your credit card companies (the number on the back of your card) and call Target at 866-852-8680. Identity theft can also be reported to law enforcement or the Federal Trade Commission. As a sigh of relief, just know that most credit card companies let you off the hook for fraudulent charges. Usually, the card issuer or the merchant will take responsibility for these costs.
3. Change your card and PIN. Your credit card company should do this for you. As CNNMoney writes, "once you receive replacement card, make sure to update your new card information with any companies that have your account on file for automatic payments or monthly fees, like your Apple (AAPL, Fortune 500) iTunes account or cable provider."
4. Sign up for a fraud monitoring service. There are several identity theft protection companies like LifeLock and Equifax that monitor your card and can alert you when security is breached.
Have you bought something from Target recently?