We’ve all gotten “those” calls. First, someone tries to convince us that they’re really from Visa and that your credit card needs verification. Or they may say your credit card must be secured to get a truly fantastic interest rate.
Eventually, the caller will get to asking for your account number, security code, and PIN. This is when you know you’re being targeted by a great credit card hoax.
Here are some general things to watch out for:
• Giving out personal information.
• Empty promises.
• Being talked into something you didn’t really agree to.
Don’t Fall Victim to Credit Card Fraud
Sometimes, these phony offers arrive by mail, telephone call, email or through any social media outlet. They seem genuine because the scammers use real-looking graphics of the companies they’re mimicking.
However, they’ll also do things that legitimate companies never will, such as promise to provide a chipped credit card without proper verification. Perhaps they will ask for written confirmation, which is a gigantic red flag.
There’s an old saying: If it’s too good to be true, it probably is.
Many credit card scam artists will rope in unsuspecting victims with amazing offers and incredible benefits. Beware of such “over-the-moon” promises, which are invariably linked to those suspicious “enter all of your data here” forms.
Even if an interest rate offer seems legitimate, it always pays to double-check these with the company in question.
A simple call or email to customer service should do the trick. The same applies to checking the company’s website or using a chat program to talk to a real representative.
Use Your Head and Trust Your Gut
Aside from emailing customer service, you can protect yourself by simply asking yourself, “Will the company profit in any way from doing this?”. If it’s a scam, the answer will be no.
Companies rarely do anything for you if it doesn’t also help them.
You can also familiarize yourself with the applicable federal, state, and municipal laws regarding credit cards.
If your gut says, “This just doesn’t feel right,” it very likely isn’t. Scammers do what they do because it works, even if it’s only once in every 1,000 tries.
Don’t be the person who becomes a victim.