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These Are the Credit Scams to Watch Out for in 2023
Mar 14

NEW YORK - March 14, 2023 - ( Newswire.com )

Credello: It's always crucial to watch out for scams. They have existed for as long as society has. As technology has advanced, so have the scams accompanying that new tech.

That is the case when it comes toá credit card fraud. We will talk about that in this article, and we'll also talk about a significant weapon you can use to deter these threats.

Fraudsters Trying to Open Credit Cards in Your Name

One of the simplest tricks fraudsters might try is opening a credit card in your name. If they can do it successfully, they can charge items or services on the new card, and they will stick you with the bill. Many times, they'll try maxing out the credit card before you are even aware of what is happening.

If someone can open a credit card in your name, they must have your full name, birthdate, and similar personal information. They must also have your social security number, which is usually the most challenging for them to obtain.

If they do, they might have gotten it by going through your trash and using any documents with your social security number and other personal information on them. That's why it is crucial for you to shred those documents.

Stolen or Lost Cards

Someone using a card that you lost and charging things on it is another credit scam. They might also steal your card if they break into your residence and take it.

The way you deter this activity is to keep careful track of where your cards are at all times. If you ever misplace one, make sure you contact the company and cancel the card as quickly as possible. They can promptly send you a replacement.

Credit Card Skimming

Credit card skimming involves you inserting your card or swiping it at an inauthentic payment point. Scammers will put skimming devices on ATMs in the hopes that someone won't notice them.

To deter this, you should only use credit card payment points or cash machines in banks or other places that seem legit. If you use an ATM in a back alley, it's far more likely to have a card skimmer attached to it.á

Credit Fraud Alerts

These schemes are being perpetrated every day by unscrupulous individuals, but you have a major weapon on your side other than vigilance.

By The Associated Press, Copyright 2021

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