kcarter2088 wrote:I opened a credit card at a credit union over 10 years ago. I used the card for a couple years, then once the balance was zero, I stopped using it. I didn't close the account because closing accounts hurts your credit. After I stopped using it around 8 years ago, I moved 7 or 8 times. I didn't update my contact info with the credit union because I wasn't using the card. My credit score has been in the 780-800 range for years. A couple weeks ago (June 2015) I noticed my score drastically dropped to 650. I pulled my credit report and saw that I had an outstanding unpaid balance on that card & 2 late payments. The original card I got in 2005 had long been expired. The credit union had mailed a new card to my previous address in October 2014. Someone illegally opened the mail, activated the card, and charged $1600 in 2 days in December 2014. A couple days later, Visa flagged the transactions and the bank tried to contact me, but all 3 of my address, phone, & email had changed. They turned off the card so nothing else was charged, but I never found out about the fraud until my credit score dropped, 6 months later. The credit union is telling me I am liable for the charges because I didn't notify them within 60 days of the fraudulent charges. Are they right? Am I liable for these charges?
Thanks for your help! I really appreciate it!
It's always a good idea to keep your records up to date so that you are available to be contacted in case anything.
Besides that, if the credit union is telling you that you have 60 days, that is based on the credit card agreement terms, as takeshi mentioned, subject to change with notification and option to opt out by discontinuing the service..but that's done via mail so..
I would A) request the agreement to be resent, it might not do much, but there could be a long shot that the rep is wrong and it's written differently in your credit card agreement, also check with visa policies.
December 2014 is not that far off, and the amount is not big enough that you can't fully recover in small claims court. B) Depending on how serious you are on this, and how far you're willing to go, you can always ask to see the charges in 12/14 and than, try to go to that store and see if you can get tapes after filing a police report.
C) With the police report, you can at least try to mend your credit report, it's going to be an uphill climb, but again, depends on you yourself, and how far or much work you're willing to do.
Yes, this all sucks.
But most people seem to conveniently forget about all the good stuff, and, when it comes to the security and safety of their money and credit, think that it's all one sided.
Banks have majority of the responsibilities to keep your info secure, make sure there is no fraud, etc..but cardholders have the responsiblities to do their due diligence and so that's why even though you're the victim, you had a hand in this incident being able to occur, and is the responsible party, in this incidence.
I'm sorry that probably isn't what you want to hear.