What Is Credit Card Fraud During The Application Process?

People in Virginia might associate illegal activities with a credit card to behaviors that involve using someone else’s card, employing various illegal tactics to try and accrue cash, and more. However, it is also illegal to provide false information when applying for the card. Those who are confronted with allegations and an investigation related to this form of white collar crime charges need to be aware of how the law views this issue and what penalties might be assessed if there is a conviction.

If a person makes a materially false statement regarding his or her financial condition or the means to pay the debts in writing and this is done so a credit card can be procured, it is illegal and will be a Class 1 misdemeanor. This can be for the individual, or on behalf of another person, firm or corporation. If the statement is in response to a written solicitation to file an application to get a credit card, it will be a Class 4 misdemeanor.

In the same circumstance as the application and acquisition of the credit card with the same criteria, if property, money, services or any item or activity of value is acquired with this card and it is worth $200 or more, it will be considered grand larceny. If it is worth less than $200, it will be petit larceny.

In regards to the term “in writing,” it includes any information that is transmitted whether it is through email, fax, computer, over the internet or another electronic method. It does not include information transmitted by voice.

A person who is facing fraud allegations with applying for a credit card might have gotten into a situation that they did not fully understand or simply made a mistake and been charged with a crime for it. Those who are dealing with credit card fraud and its accompanying penalties need to make sure they do not take the charges and penalties lightly and protect themselves by speaking to an experienced legal professional to plan a defense.

Source: law.lis.virginia.gov, “§18.2-195.2. Fraudulent application for credit card; penalties,” accessed on Aug. 1, 2016