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Complete Story
02/21/2026
90% of Credit Card Fraud Comes From Accounts You Never Opened
Motley Fool Money
It's easy to think of credit card fraud and picture someone skimming your card at a gas pump. But that's not usually how it happens.
The bigger threat is new account fraud. Someone opens a credit card in your name, you don't know it exists, and by the time you find out, the damage is done.
According to recent identity theft data, credit card fraud remains the most commonly reported type of identity theft, with more than 1.15 million identity theft reports filed through the third quarter of 2025 alone, which surpassed all of 2024. The uncomfortable truth is that much of that fraud involves accounts victims never opened.
The fraud you don't see is the most dangerous
If someone steals your physical credit card, you'll usually catch it quickly. You see a weird charge. You call your issuer. It gets worked out.
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