Always Beware Of Credit Card Scams
Beware Of Credit Card Scams For Your Own Protection.
Everyone should be warned to beware of credit card scams. The scammers in one scheme send out an email telling you your bank account has been compromised. They give you a link to go to for it to be corrected. They rush you by saying you only have so much time to stop the criminal.
Clicking the link takes you to a website where they say you must hurry before the criminals get your numbers and use them. Next they collect all your personal information. If a person thinks they are giving it to their bank, they may divulge the information.
Trouble is, the credit company or bank have nothing to do with the website. You have just given out your financial profile to a scammer. You don’t realize what happened till it’s too late. He rushes out to buy a few expensive items before you can report your card stolen.
He may scam you by starting with a Visa card number that he knew was legitimate. Then he tried a series of numbers and expiration dates. He begins with the number after the one he knows is good. For example, the last four digits are 2222 and he then tries 2223.
He then has to try all possible expiration dates. When it works, he verifies it by making a small purchase, then voiding it. He puts in tedious hours compiling a list of credit card numbers that he has confirmed are good.
Now he looks for a seller who will sell him an expensive item and split the cost among three or four of the credit cards. He uses overnight delivery. The scammer disappears long before the real owner of the credit numbers disputes the charges on the card.
Since the real card owner cannot be charged more than $50 of the amount charged by the scammer, the card company has to take the loss. Then we all pay higher prices as a result. Beware of credit card scams. If an email arrives from an unfamiliar person, click delete without even opening it.
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Filed under Finance by on Jul 13th, 2010. 