This happens more than people want to think about – these recurring ‘stealth’ credit card charges appear on your statement and you ignore them and let them slide. But the issuers should maybe ask about this charges occasionally (just a ‘this recurring charge has been on your card for a year; do you still approve it?’ might be nice once in a while). When you have changed credit cards because of fraud items it should be standard practice, but it isn’t all the time. See this article in the Los Angeles Times by David Lazarus:
http://www.latimes.com/business/la-fi-lazarus-20140509-column.html
This is something the credit card issuers should be doing on a regular basis as a service to their customers. I have to admit that Chase and Citi have been good about notifying me about odd little charges, so kudos to them. I also remember Chase questioning me on all recurring charges when we had to change a card because of fraudulent charges a year ago. Way to go!
For financial, accounting and tax musings,
You can count on us to count for you!
Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com
Android and the IPhone:
Has been Featured On
https://twitter.com/bstonercpa