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Today's Terms
Fraud alert
Definition:
Once you have become a victim of identity theft, a fraud alert is placed on your credit report to let all creditors know that someone might be trying to obtain new credit in your name.
Skimming
Definition:
Skimming in known as the method of using a information storage device when processing credit or debit cards in order to obtain the card number and then use it fraudulently.
Default
Definition:
Defaulting on a payment means missing a payment.
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