Unfortunately, the credit card offers that you may be receiving may seem like legitimate offers. Often times, these types of credit cards come with extremely high interest rates, inflated fees and other crazy terms.
These companies are hoping that you are trying to repair your damaged credit and want the conveniences of carrying a credit card with you. So what they do is mail out offers that look like legitimate offers for either a MasterCard or Visa. They first let you know that you have been pre-approved. Then they really get your attention by offering you a pre-approved credit card with a $5000 line of credit that requires no security deposit. In actuality they are usually credit cards that can be used at only specific catalogue clubs or store clubs.
When you don't have good credit you might want to rush in when you receive a credit offer in the mail. But remember that if it sounds too good to be true then it usually is. When you receive these types of offers in the mail it is very important that you read all the fine print. Before you sign up for anything look over all the terms for the credit card very carefully.
Such credit card scams tell you that you are pre-approved for a MasterCard with a $5,000 credit limit. They inform you that you simply need to verify your personal information in order to activate the card. In order to verify the accuracy of your information, they ask that you sign the credit card offer and mail the application back in. Afterwards, your credit card will be mailed to you promptly.
But if you have taken the time to read the document carefully you will see that this is not an ordinary MasterCard credit card. You will only have the ability to use this credit card to purchase items on their special online or at a specific store. This credit card will not be valid anywhere else. The products that can usually be purchase with these credit cards are off brand electronics and house ware items.
The usual catch to the scam can be found by further reading the offer. They usually require you to mail them a money order for $299 to activate the offer. They usually offer reassurances that you will get that money back with special offers or discounts from the company when you make your first purchase on your new credit card. Annual fees of additional hundreds of dollars are also added to the credit cards by some of the companies out there, and that is on top of the of the extremely high activation fee. Hopefully the more you read the less appealing the offer sounds.
Most of these types of credit card offers will charge you upward of 45% interest, which is obscenely high. So it is vital that you have read all the information contained in credit card offers.
One of the best things you can do when you receive an offer like this, is throw it away. Instead, use the money it would take to activate the card and spend it on obtaining a secured credit card. With a security deposit, you can easily obtain a MasterCard or Visa. This is a great way to begin repairing your credit, since such companies report to the major credit bureaus. Be sure to keep all of this in mind the next time you walk out to your mailbox and see a credit card offer waiting for you.
Few technological wonders have made life and communication easier than the cell phone. So long as one is within a good calling range, you can contact anybody, anytime, while traveling. Having a cell phone is especially handy in emergencies, should your car break down or should you get lost in an unfamiliar place. People without cell phones have the convenience of using pre-paid calling cards, so as not to worry about long distance phone bills. Just enter a passcode and talking to anybody you wish.
Due to their ease of use, such items have become the target of thieves.
Phone Card Fraud
While one might not think there is much benefit to stealing a simple phone card, people are finding a way to make money from stolen authorization codes. Whether you are using a card for which there is a monthly bill or a pre-paid card, once a thief has the pass code he can make calls or engage in illegal "call-sell" operations, selling long distance time to others and pocketing the profits.
How does a thief obtain an authorization code? Think about the last time you used a phone in a public place. You might have been at the airport, bus station, or your hotel. Maybe you used a pay phone or your cell, and maybe you didn't notice the possibility that you were being watched. Thieves are becoming craftier in their surveillance skills; if one doesn't linger around the pay phone, pretending to wait to use it, one just might be watching you with binoculars or a zoom lens, taking note of the numbers you punch into the phone. You probably wouldn't know until the end of the month, if you are using a billed card, and find a list of calls you didn't make.
Always be alert when making a phone call in public. Shield the phone's keypad from sight, and keep any calling cards close. Better yet, if you can memorize your authorization code, do so. If you have to speak your code into the phone, keep your voice low and out of others' earshot. If you have a cell phone, program any code numbers into your speed dialing system.
Phone Travel Scams
It's early in the morning, and you're snoozing in your hotel bed when the phone rings. The clerk at the front desk claims there is an authorization problem with your credit cards, perhaps their number is wrong. Could you give him your credit card number for confirmation? Without thinking, you do and go back to sleep, annoyed by this inconvenience on the hotel's part.
What you might not realize is that you could be further inconvenienced by a whopping credit card bill.
We are hearing more and more about this particular scam targeted at travelers. A room is picked at random and the traveler tricked into surrendering valuable information, allowing the thief control of your identity. Assuming you spend minimal time dealing with hotel staff, you aren't going to know the voice of the day clerk, so you don't think much of it. It's an easy trap, but it can be avoided. Never volunteer any personal information over the phone while away - no name, credit card numbers, anything. If you feel the call is suspicious, hang up immediately and go down to the front desk to confirm if any calls were made by them to your room. Always best to be safe.
Cell Phone Safety
As cell phones get smaller and smaller with the new technology, it's a wonder we don't lose them more often! Yet, it still happens, and it is important to immediately report a lost or stolen phone to your service carrier as soon as possible to avoid incurring fraudulant charges. With travelers, too, came the problem of cell phone "cloning" fraud - this occurs when a thief gets a hold of a specific cell phone's signal and duplicates it into another phone. The thief's phone is then recognized as your phone, allowing the thief to make illegals calls on your bill. As the major wireless companies are taking counteractive measures against this type of theft, cloning fraud should not be the problem it used to be; nonetheless, it is always suggested to consult with your wireless company about fraud.
Vigilance and proper use of your phone and phone cards can prevent theft while away from home.
Both Darren Allsop.. & Kathryn Lively are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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