10 Alarming Credit Card Scams To Watch Out For In 2022
Everyone wants to believe that this world is safe, but it is always recommended to do a reality check and watch out for many scams that are increasing now more than ever.
Did you know there were 2.1 million credit card scams in 2020 alone? Yes, credit scams are one of the most unfortunate realities of today’s financial world. The current pandemic has significantly created perfect conditions for such scams to increase over the past two years. Perhaps it is due to the change in the everyday behavior of people after Covid 19, such as the shift to remote working, increased home deliveries in the world of e-commerce, and especially, the sudden shift of banking transactions onto digital channels as branches closed and banks switched to digital media to provide their services.
If this seems to have caught your attention, and you want to learn more about this ever-growing scam and how to avoid falling victim to it, then continue reading! You can thank us later.
If you’re someone who is into Online Auctions, then you’re definitely at the right place. We can give you the best practices in identifying red flags as well as help you in recovering your stolen money from scammers!
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Top 10 Credit Card Scams
The more you read about it, the more you realize how easy it is to become a victim of a credit card scam.
If you’re not paying attention or don’t feel that a phone call, email, or link you click on isn’t what it seems, chances are you’re getting scammed. There’s a 99% chance of you handling your credit card information to a scammer! Let’s see how.
Credit card skimming allows fraudsters to make minor changes that go unnoticed by the cardholder.
When paying for a meal at a restaurant, for example, a staff may obtain your credit card number and use it to make a series of small charges from the restaurant and withdraw cash from the till, all of which will go unnoticed by management.
Apart from this, a credit card and a debit card are every scammer’s dream, and it has long been a popular method to get credit or debit card information via skimming ATMs. This could involve inserting a device into an ATM that reads and extracts data from a card’s magnetic strip. Damn!
Are you one of those people who are willing to donate to those innocents who are suffering during these difficult times?
Although it is a great thing to do, you should be aware that hundreds of scammers are using the invasion to defraud you of your money.
It all starts with a victim getting a phone call from a scammer who pretends to be from an organization or cause soliciting charitable donations. Scammers have been using this tactic for a while now. Somehow they will force you to give them your credit card information, and the rest is history!
Do you suspect that someone had scammed you?
If you have any suspicion of a scam or phishing attack, then you can rely on EZChargeback to help you with protection, mitigation, and fund recovery.
You will feel safe knowing that experts with years of experience will be guiding you!
The Credit Card Debt Reduction Phone Call Scam
Here you are expected to receive a phone call from a scammer who claims to work for YOUR credit card company.
They will offer you to eliminate your debt by working with them as they ask your creditors to reduce it. In return, they will ask you to pay a significant amount of money, inquire about everything about your credit card, and in the end, will leave you with nothing but scammed!
The Interest Rate Scam
Some of the most known over-the-phone scams in recent years have been from scammers that claim they can reduce one’s credit card interest rate and help them save thousands in interest.
You get a call from an automated message informing you that your credit card’s interest rate has been reduced. However, to claim the offer, you must enter your card information, which is where it’s all over for you! How sad!
Social Security Benefits Scams
Scammers sometimes also call and claim to be from the Social Security Administration.
Here they say things like you were overpaid benefits and need to pay back some of the money via a credit card. Through this, they intend to get their hands on your credit card details or bank account information. In fact, they can also sometimes give you a fake bank routing number to deposit your benefits into. Crazy!
In its literal meaning, phishing is an example of social engineering attack often used to steal user data such as login credentials and credit card numbers.
The scammer often masquerades as a trusted entity and traps the victim into opening an email or a text. Phishers frequently use emotions like fear, urgency, and curiosity and are constantly innovating to seem more sophisticated than ever.
In 2018, there was a case of a woman who became a victim of a Facebook grant scam and lost $8,000. In this scam, the hacker claimed to be the victim’s wife and told her that she was eligible for a grant of $120,000 but would have to pay an amount of $8,000 in advance through a gift card. After the verification via a channel other than Facebook, she found that her wife knew nothing about this and the whole story was a scam.
Government Imposter Scams
A government impersonator scam usually begins with a call, email, or text from someone who claims they are from a government agency.
They might give you their employee ID number to sound official, and they might have information about you, like your name or home address, which can help them to manipulate you. As mentioned earlier, they often say they work for the Social Security Administration, the IRS, or Medicare.
Automatic Withdrawal Scams
Automatic withdrawals are also popular with scammers, but for different reasons.
How do these work? It is possible to fall victim to this scam by receiving a phone call or a postcard informing them that they have won a prize or qualified for a special offer. The idea is JUST to get you to read your credit card details.
Hotel Front Desk Scam
This happens when scammers pretend to be hotel employees from the front desk and contact your hotel room.
They claim that there is a computer system problem; to solve this, they need to verify or process your credit card information again. Without any second thought, you fall into this trap and boom! You’re scammed!
Protect Yourself From These Dangerous Types Of Credit Card Scams!
You should be aware of the various credit card scams and how to prevent being a victim by now.
If you or your loved one is ever a victim of such a scam, contact Ez Chargeback as soon as possible. Our expert team of recovery specialists will aid you in recovering your stolen wealth from scammers ASAP!
For more relevant information, visit Ez Chargeback and find thousands that can help you invest your money in the right place. If you have been scammed in an online auction scam, contact us, and we will help you get your money back.
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