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Another Reason to Check Your Balances

October 11, 2013

I mentioned that since prioritizing debt reduction, I’ve been doing daily logging and categorization of our expenditures. This morning, when I logged into our credit card account to do just that, I got a nasty surprise. Over $3,000 in unauthorized charges were pending posting to our account! I completely freaked out – the hubby and I both had our credit cards so someone either stole our information online or while we were making a payment at a checkout terminal. I immediately opened up a chat with a credit card rep and they took care of everything within 30 mins – closed our account and documented the fraudulent activity. Our card has $0 liability fraud protection which means that, thankfully, we will not be responsible for the charges. I spent the remainder of the morning changing passwords on all of our online accounts, and cancelling all of our autopay accounts – major annoyance, but at least it’s done now!

I also took this opportunity to cancel my current gym membership. I have access to the gym at Georgetown through December and between school and work and spending time with the family, I really haven’t been able to get to the gym with any regularity. I also have access to a gym at my company’s HQ so really, there is no need to keep up the membership. My plan requires me to give 30 days notice so m last payment will go through on November 10 and my gym membership will be good through Jan 10, 2014, so I still get to use it if I can find the time. This will result in $28/month savings or a $336/year savings. Not too shabby!

While the whole credit card stealing thing is a giant pain, I do have some other good news to report – our electric bill for the month came in $20 lower than last month!  Go us! It has been rather chilly in our area the past week, and I’m proud to say that instead of cranking the heat the whole day we have our thermostat running on schedule that keeps the house at 63 during the day and 68 at night. I thought that it would be too cold, but I’m actually finding that, with a pair of cozy sweats, it is quite comfortable! if we can keep this up, I’m sure we’ll be pleasantly surprised by our gas bill this winter:)

Even though it really sucks to find out someone took your credit card number and is making fraudulent charges, it is really awesome to know that because of your financial diligence, you were able to identify those charges even before they posted to your account! That’s a huge step and another really great reason to be more aware and vigilant about your finances. Sure, companies have fraud detection systems, but the best preventive and detective tool is staring right at you in the mirror:)

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2 Comments
  1. Very scary! Did you have to file a police report or pull a credit report to see if there are debts listed for loans that you did not take out?

    • I didn’t file a police report but I did pull my credit reports and everything looks clean. I’m just thankful we were able to catch it quickly:)

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