Whenever you use your credit or debit card at a retailer, you put that information at risk should there ever be a data breach. One recent example of a major data breach that made headlines was the Target data breach, when information was stolen from at least 40 million customers. What can you do if you find out that a retailer you shop at with a credit or debit card has had a data breach?
Replace the card(s) used
It may be a bit of an inconvenience, but it’s better to be safe than sorry. Instead of assuming that you’ll be fine because millions of others are also at risk, and you could always dispute any fraudulent charges later on, take a few minutes to call up your lender or bank and ask for a replacement. The sooner you can do this, the better.
Monitor your credit report
Even if you canceled your card, you’ll still want to periodically check your credit card statement to see if there was any suspicious activity or charges made prior to requesting a replacement card. If you see anything unusual, be sure to dispute the charges right away.
Check your bank activity
If you used a debit card at a retailer that had a data breach, you’ll want to regularly monitor your bank account activity, even after you’ve requested a new debit card. Debit cards charges often come with less protection than credit card charges, so be sure to notify your bank immediately if you notice anything unusual.
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Nothing above is meant to provide financial or tax advice. You should meet with appropriate professionals for such services.