Credit cards are like a lottery for thieves. As cybercrime is taking a toll, credit card scams are one of the top ones on the list. Reputed banks like columbia bank Sayreville try to implement preventive measures to protect customers from thefts.
Are you one of the victims of credit card scams? Experienced or not, you must be well aware of such frauds to minimize their occurrence in the future. Here’s a list of the 5 credit card scams you should look out for.
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Believe it or not, an imposter may open an account in your name and carry out regular credit activities. Alternatively, fraudsters may link their cards to your bank account, leaving you with a heap of debt. In such cases, you are not only robbed, but your credit rating is also in jeopardy.
Lost or Stolen Credit Card
If your credit card is lost or stolen, chances are that a scammer will use it until your card limit has reached. Though you can inform your bank about it for cancellation or freezing, all your credit may already have been used.
Card Not Present
A swindler may acquire your card details through fraudulent e-mails, messages, and links. The information is then used to carry out online transactions that do not require the physical presence of a card.
Skimming and Counterfeit
Like the previous fraud, once the imposter gets your details, they may be used to create counterfeit credit cards. Alternatively, you are vulnerable to skimming if a credit card skimmer is attached to ATMs. It is a chip-like device used to steal your information.
Card Not Arrived
You may have applied for a credit card but never received it? Chances are that it has been stolen in the way or from your mailbox. By the time you realize that your card hasn’t arrived post due date, the fraudster may have used it indefinitely.
Make sure that you are aware of the whereabouts of your credit card at all times. Also, never provide your bank/card details over messages and e-mails and report if you receive any.