Today, the scammers have gone to the next level and you don’t know when you will become a victim of credit card scam. But, you are not the only one as thousands of people fall into the trap of these scammers every year.
Let us discuss five of the credit card scams that you should be knowing –
1..The Jury Duty Credit Card Scam
– Different scare methods are being used and personal information is also being fished out in order to carry out the scam. We have continuously trying to find out ways in which we can avoid jury duty, but at times we have just missed out the court notice. This is when the jury duty scam comes into the picture.
In this scam, the scammer will make a call to you acting as a representative from the court. They will tell you since you didn’t show up on the scheduled jury date, an arrest warrant has been issued against you. You will say that you have not received any such notice. Then the scammer will say that in order to clear the case, he would like to verify some information. Then the scammer will be asking you about your personal details such as address, birth date, credit card numbers, and social security number, etc. Now, as a worried victim who is thinking the call is genuine, you will end up sharing your personal details with him, hence becoming a victim of credit card fraud.
Getting a scam phone call
– In this scam, the scammer will give you a call and will pose as a fake executive from your credit card company. He will inform you that he can get you reduced rate of interests and debt payments. Since the scammer has done a research on you, he will also advise you about paying your debt much faster. The scammer only aims those who are going through bad credit and all those who are the most vulnerable.
Of late, such cases have been noticed by the FTC and now it is illegal to ask for the upfront fees. In addition, all the debt reduction companies are being instructed to maintain an account, owned by the client, for use in paying creditors. However, not everyone is aware of this fact and therefore becomes easy prey for such credit card scammers.
- Secured Debts vs Unsecured Debts
- Unsecured Credit Cards
- Credit Card Hardship Program
- Credit Card Debt Consolidation
Credit card skimming
– With the advancement in the field of technology, the skimming machines, also called skimmers, have become quite advanced. Of late, these skimmers were sighted in gas stations and ATMs throughout the nation. Using these skimmers, the scammers gets access to your credit card details with the help of Bluetooth. Then these scammers make the replica of your card and use it for shopping.
What’s worse is that at times, waitresses and cashiers are also made a part of this scam. They swipe your card with, a handheld, skimming device when are you are not looking at them. Once these people have your credit card details, they can make a fake credit card.
Related Post: Credit Card Debt Consolidation For Bad Credit
– The scammers are quite smart and they set up free Wi-Fi hotspot and such hotspots do not require any password. Once you get connected, your phone becomes vulnerable and the scammer can gain the access to all those details that you exchange through the Wi-Fi. If you happen to be checking your online bank account, then it becomes quite easy, for the scammer, to access to your username and password. The worst part is that these scammers can also have information from your browser history.
Scam through EMV card
– The latest trend in the credit card industry is adopting EMV chip-enabled credit cards. This technology has been acquired seeing the rising cases of credit card fraud. At the moment, the motive is quite slow and the credit card companies are issuing these cards over a period of time rather than all at once.
What happens is that these scammers, posing as the issuer of credit cards, will inform you through an email mentioning that there is a need to update your personal details. The email will also say that this update of the information is required so that new chip card can be issued to you. Unaware of the fact that the email has been sent by the scammer, you will reply the email with your personal details and even clicking on the link and enter your credit card details. This will give the scammer all the information that he is actually looking to extract from you and will become a victim of identity theft.
If unfortunately, you have become a victim of credit card fraud, you should know about your rights, after that the first thing that you need to do is to call your credit card company immediately so that you can get your card blocked or suspended. In addition, you should also call the credit bureaus and initiate a hold on your credit reports.
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