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Due to the zero liability guarantee offered by nearly all on line credit c providers, in case your card is pilfered by a card thief you`re normally only liable for a tiny portion of the unauthorized purchase of goods charged to the card - if any. Even when a thief goes on a massive shopping spree by using your chargecredit card online for thousands of dollars` worth of purchases, a Zero Liability policy makes sure you aren`t saddled with the bills.

Your stolen secured card on line has repercussions on others besides yourself, as well. The retailers or service providers who accepted the stolen card (unaware that it was stolen, of course) have to forgo the cash value of the merchandise bought on the chargecredit cards on line, not to mention putting in considerable amounts of time and effort in the effort to recover at least some of their costs.

Can you figure out who bears the brunt of the financial damages caused by fraudulent use of stolen debitcards online? If cardowner of the pilfered card is not required to foot the bill for the unauthorized purchases; and given that the thief is rarely brought to justice; and given that the vendors are forced to write off the price of the commodities that were bought using the pilfered on line debit cards -- who`s left to pay for all these financial losses? Consumers. Merchants inflate the price of merchandise, and chargecreditcards providers increase their rates of interest and charges in order to make it possible to counter the financial damages caused by stolen cards.

This is the bottom line: while the cardholder of the stolen credit cards isn`t liable to foot the bill for the unauthorized charged amounts, all other customers -- who`re already paying for their purchases -- end up paying higher rates and charges in order to offset the economic losses arising from the card theft.

The Retailers` Association has published statistics that indicate an annual inventory loss of over $37 billion nationwide, due to thieving employees, shoplifters, fraud perpetrated by vendors, as well as clerical and administrative mistakes.

The VP of Loss Prevention for the National Retail Federation (NRF), with headquarters in Washington, DC, announced that the NRF has devised a tracking system that law enforcement groups and commercial enterprises can use to track nationwide theft. The Attorney General`s staff members aren`t directly involved in the prosecution of shoplifters and thieves, but the state assists people and businesses who have been targets of such crimes. The local police force and DA`s office handles the cases that are brought to court. Although the aim is to represent the rights of consumers, that doesn`t really signify that to represent consumers we have to be against vendors and retail stores.

It`s estimated that merely about one out of every eight or nine instances of online credit credit card scams are make their way (via an official report) to the state`s consumer protection office. Rip-offs and fraudulent activities are fairly widespread -- even more than most people truly realize. There isn`t a week when law enforcement groups aren`t notified of some manner of hoax, con, or fraud by at least one person or business group.

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