Is "PURCHASE CREDIT ACCEPTANCE" fraud?

Written by Julian Sanchez

June 18th, 2024

Medium Risk

What is "PURCHASE CREDIT ACCEPTANCE"?

Credit Acceptance has been in business since 1972. The company provides auto financing to consumers, focusing on individuals with less-than-perfect credit. They offer indirect financing for automobile dealers, enabling those dealers to provide credit to their customers for vehicle purchases. Credit Acceptance's primary retail products include auto loans and related financial services. The company operates through a network of dealer-partners and serves clients in various regions across the United States.

PURCHASE: Type of transaction indicating a payment for goods or services

CREDIT: Indicates the direction of the transaction amount towards the account, implying a positive adjustment or refund

ACCEPTANCE: The entity or service provider that processed the credit or refund transaction

Verify if this transaction is fraud in 30 seconds

Verify With Receipt

The best way to tell if this charge is fraudulent is to find the receipt. You may have an electronic copy of the receipt, which you can finding by searching in your email accounts for.

Or, if you want to automatically find and reconcile receipts so you never worry about fraud, you can use SimplyWise to automatically match all bank and credit card transactions to email and paper receipts. The app instantly reconciles your expenses and flags anything that doesn't match.

STEP 1

Connect your Email

Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.

STEP 2

Connect Your Bank

Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.

STEP 3

Reconcile

Reconcile the charges reported by your financial institution against what you've recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.