Friday, March 29, 2013

Prevent Credit Card Fraud With Bill Guard

Friends and family know that I love my loyalty points, especially earned from using my credit cards.  It's like a game to me: charge as many purchase types I can, big or small, I will take them all.  Since using your credit card frequently, especially for on-line purchases, does make you more vulnerable to theft, fraud, or both, it is critical to check your credit card statements frequently.  I do this mainly because I pay off my credit card bills every few days, but also to make sure charges are legitimate, too.

Recently, I read in Money Magazine about a service called Bill Guard which takes a way a lot of the burden in monitoring your credit cards.  This short video below explains how the service works:

The tool is really easy to use.  As long as you have your credit card log in information handy, preferably in your head, it should only take a few minutes to set up.  In no time, Bill Guard will scan your credit card transactions and flag those that appear suspicious, or at least it hasn't seen before.  It's up to you to then indicate whether the credit card charge is legitimate, or if it is potentially fraudulent.

Signing up for Bill Guard is free for the first three cards.  If you'd like to register more, then you can either refer someone, or pay $79/year for up to 10 cards.  Most people will probably be covered with three cards, especially if they typically only use one card.