Credits: Social Media
Expert reveals six most common credit card scams – and how to avoid them
Credit card fraud is more rife than ever, and it’s important to be aware of the common scams and know how to avoid them.
Almost 500,000 cases of credit card fraud�were reported to the Federal Trade Commission (FDC) in 2023, and many of those could have been avoided.
6 credit card scams and how to avoid them
Trevor Cooke, a privacy expert at�EarthWeb, has shared the six most common credit card scams, from phishing to fake tech support calls.
“Credit cards are amazing tools, but they can also be a target for fraudsters,” he said. “The good news is, by being aware of these scams and taking a few simple steps, you can keep your money safe.”
1. Phishing
The most common scams are phishing ones, which use emails, texts and social media posts that contain links to malicious websites to steal your credit card details.
To avoid this, Cooke says you should never click on any suspicious links at all. Always stop and ask yourself: “Does this look real?”
Look for typing errors and obvious signs of fraud. Often, the phishing messages pretend to be from big companies like banks or postal services.
2. Skimming
Another common credit card scam is skimming, which is when criminals illegally install devices onto ATMs, fuel pumps and other payment terminals to capture card data and record PIN numbers.
The privacy expert says you should always “give the card reader a good wiggle” before you swipe your credit card.
If anything feels loose or out of place, report it to the attendant or use a different machine. Also use contactless payments whenever possible.
3. Card-not-present fraud
Card-not-present scams see fraudsters use your stolen credit card details to make online purchases without even having the card.
Usually, you don’t even realise your details have been stolen until you see a suspicious transaction on your bank statement.
Enable transaction alerts on your phone so you get notified of every purchase, and only shop on secure websites (look for the padlock symbol in the address bar).
4. Fake tech support calls
Scammers love to use fake tech support calls, which pretend your computer is infected with malware, to steal your credit card details.
The phone rings and a person offers to fix the virus for a fee, coaxing you to reveal your credit card number to them.
“Never give your credit card information to someone who calls you out of the blue,” Cooke urges. “Hang up and contact your tech support directly if you’re concerned about malware.”
5. Overcharge scams
Overcharge scams are rife too, where you recieve a call or email claiming you’ve been overcharged for a service you never used.
They’ll pressure you to “pay the difference” with your credit card, but you should never engage with these messages.
If you do owe any money to a company, always contact them directly using a phone number or email you know is correct.
6. Account takeovers
Finally, you need to be aware of account takeovers, which is when scammers access your entire credit card account.
They have access to all your passwords, bank accounts and details, and often go on a crazy spendy spree with your money.
The privacy expert recommends monitoring your credit card statements regularly for any suspicious activity and always using strong passwords.
