Credit Card Scams

 

Nowadays, money seems to be the most important thing in this world. And nearly everyone would do anything just to get a handful of money. That's why a lot scams and frauds are lurking everywhere ready to devour their victim like a vulture does with its prey. The most common type of fraud these days is the credit card scam. People who are desperately in need of credit or who have problems on their credit cards often fall prey.

 

To know more about credit card scams, here are 10 known scams creeping around:

 

1. Identity theft.

 

This is the most widely known and widely used type of credit card scam. This refers to the way unscrupulous people use your credit card information, social security numbers, and other personal or financial data that can be beneficial to them. Through this, you get unknown purchases, unrecorded transactions, and unlawful identity use.

 

2. Credit repair scam.

 

To those who are so desperate to clear up their credit score or their credit record, most of them get enticed to offers on deceptive marketing on bill consolidation services, easy-out-of-debt advertisements, and squeaky-clean credit records. Most of these scams sound too good to resist, but the only way to know they are scams all right is when they ask you to pay them first before they even get to do the job.

 

3. Secured credit card marketing scam.

 

People who have bad credit or no credit at all fall easily on this type of scam. In this way, some marketers of secured credit cards make tempting but misleading offers that most consumers can't resist.

 

Usually, this secured credit card scams will tell you to call a "900" number which will cost you $2 to $50 or more. Most of their requirements are focused on your income. Best of all, these secured credit card marketing scams requires you to pay a higher security deposit and a higher annual fee as compared to the usual secured credit cards.

 

4. Bogus donations.

 

There are many bogus donation requests these days being sent through email. They ask you for some donations and require you to fill out some form. Without you knowing it, these emails are attached with an executable file virus that tracks down any information you submit. Eventually, you'll be loaded with lots of bill payments that you did not make.

 

5. Telemarketing turned credit card scam.

 

Telemarketing these days is already a part of a typical consumer's life. Many people receive 10 or more calls a day unless they are on the do-not-call list. Sign up at http://www.donotcall.gov if you haven’t already.  Most of these telemarketing calls have