Reward points and flyer miles are wonderful things, but they are one of the many traps used to lure people into credit card scams. The credit card industry is enormous, involving billions upon billions of dollars per year, which lures scam artists like moths to a flame.
There are many types of credit card scams, including false promises of rewards, shady credit card companies that want you to apply for their card by handing over vital information, and many more.
Amazon credit cards are a popular form, as are credit card relief scams promising debt solutions that sound too good to be true.
Take care to know what credit card scams are out there, and watch this space to learn about them as they emerge. See below:
How the scam works: Many stores still have credit card terminals printing the merchant copy listing the full credit card number on it. Beware of what can happen. Let’s say you like a certain wine and buy it three times a week. Scammers in this case are the cashiers, who are waiting for somebody who … Credit Card Double Charge Read More »
Credit Card Reader: How It Works (with video) Technology can be a wonderful thing until it’s used against us. Let’s say you get a state-of-the-art credit card with RFID (Radio Frequency Identification) technology. It’s brand new, and you’re thrilled at the chance to charge purchases with only a quick scan. The problem is, scammers … Credit Card Reader Read More »
How the scam works: This scam usually happens in bars, but any merchant that takes credit cards for payments could very well pull it. Say you are having a great time in a bar and at the end of the night, you pay by credit card. What happens is that on the signed receipt, scammers … Altered Credit Card Receipt Scam Read More »
How the scam works: You’ve probably owned a few credit cards and know exactly how different they look, depending on the brand. One day, you and your friends are in a restaurant or lounge you’ve never been in before. At the end, you pay the bill with your credit card. It was a good night … Credit Card Switch Read More »
How the scam works: You are a cashier in a store and sell something expensive to a new customer. He pays by credit card and – as the law requires – you check his ID to see if he is the owner of the card. He admits the card is not his, but his best friend’s, who … Credit Card Use at Till Read More »
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