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Six Signals of "Bust Out" Fraud

Visa has identified six signals that might alert cardholders that a bust out incident might be building. 1. Where the accounts are located. Card accounts in New York, New Jersey, Maryland, California, Illinois, Michigan, Florida (Miami area), and Washington, D.C. have predominated the cases so far. 2. Less than two...

By Staff Writer | Updated on September 09, 2003

Visa has identified six signals that might alert cardholders that a bust out incident might be building. 1. Where the accounts are located. Card accounts in New York, New Jersey, Maryland, California, Illinois, Michigan, Florida (Miami area), and Washington, D.C. have predominated the cases so far. 2. Less than two years of credit history on file, and in any case, no credit history past 1989. 3. Credit score based only on card histories. No mortgages or car loans. 4. Numbers of different accounts, sometimes 8 to 10, with $70,000 in available credit. 5. Revolving balances of more than $50,000. 6. Self Employment.

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