Call Now!
Call Us 414-326-9231 608-260-7133 Text Us 414-326-4709

Data breaches affect credit card debt

When you decided to apply for a credit card, you probably imagined that it would help you out. What you probably didn't count on was the possibility that your credit card might be used by others to help them out while hurting you. Most Wisconsin residents have probably heard about the data breach that occurred at Target just before Christmas. What some people might not realize is the credit card breach is much larger than previously stated.

When the news of the Target data breach came to light, it was estimated that around 40 million customers were affected. The latest estimate has nearly tripled that number to a whopping 110 million customers. However, that isn't the only data breach for customers to worry about. Some customers who shopped at Neiman Marcus just before the holiday have also been affected by a data breach.

In both data breach situations, it appears as though the affected customers were ones who shopped at the retail locations of the companies. After the breaches, fraud industry experts say they saw an increase in the stolen card market. It is reported that some batches of cards were selling for $20 to upwards of $100 per card for high-value cards.

These data breaches are a stark reminder to customers who use credit cards to keep a close eye on credit card statements. For people who are trying to keep credit card debt under control, fraudulent charges as a result of these breaches can be the start of financial difficulty if the charges aren't caught and reported. If you are having trouble paying for your minimum credit card payments, consulting with a Wisconsin attorney may help you learn about ways you might be able to get relief from your overwhelming debt.

Source: CNET, "More retailers reportedly victims of holiday data breaches" Steven Musil, Jan. 12, 2014

No Comments

Leave a comment
Comment Information
Email Us For A Response

Free Case Evaluation

* indicates required field

Miller & Miller Law, LLC
  • VISA
  • Master Cards
  • Discover
Milwaukee Office map Madison Office map Kenosha Office map

633 W Wisconsin Ave, Suite 500
Milwaukee, WI 53203

Phone: 414-312-6581
Fax: 414-277-1303
Milwaukee Office

2810 Crossroads Drive
Suite 4001
Madison, WI 53718

Phone: 608-260-7133
Madison Office

6123 Green Bay Road
Suite 210
Kenosha, WI 53142

Phone: 262-326-1669
Kenosha Office

Appleton Office
4321 W. College Ave.
Suite 200
Appleton, WI 54914

Phone: 920-280-3838
Appleton Office

Brookfield Office
200 S. Executive Drive
Suite 101
Brookfield, WI 53005

Phone: 262-261-0665
Brookfield Office

Glendale Office
6001 N. Green Bay Avenue
Glendale, WI 53209

Phone: 414-973-8662
Glendale Office

Fax: 414-277-1303 - We also have offices in Appleton, Glendale and Brookfield to better serve you.