What Is Phishing? All new technologies come with their drawbacks and it is no different with credit cards. One of these drawbacks goes by the name of Phishing. When a person uses a fraudulent email or online shopping site to get hold of information about your credit card or bank, it is called phishing.
Phishing is easy which is why it is so popular with thieves. In the first instance, it begins with a cleverly phrased email that seems to come from your credit card company or your bank. It usually asks you to provide confidential details for verification. It may also threaten to close your account unless you give the necessary information. Another popular method is to set up fake shopping websites that only accept online credit card payment. You will never get the goods that were displayed. If you comply in either instance, you will end up with a highly inflated credit card bill and a sadly depleted bank account statement.
How To Protect Yourself From Phishing?
The best way to protect your credit card from phishing is to reveal information only after cross checking. Often, all you need to do is contact the concerned bank or company and confirm the email. A detailed scrutiny of the email before dashing off a reply also helps. Such emails usually do not have a salutation like 'Dear Customer.' The name of your Credit Card Company or bank will also be spelt incorrectly. Since anti-phishing scanners search text messages, phishers may enclose the message as an image. If your credit card requests are contained in an image, be doubtful.
In case of online shopping sites, beat the tricksters at their own game. For a first time purchase, use a credit card that is about to expire and has minimum credit. If the purchased item does not land at your doorstep within the promised time, at least your losses will be limited and you can be sure that the information cannot be used to perpetuate a bigger fraud.
Making a decision on which credit card is right for you is one that takes a lot of time and careful consideration. Each credit card has its own terms and reward package, so proper research must be done to find the one that offers you the best deal. It can be real easy to find yourself on the road to financial disaster if you don't understand how to use a credit card after you receive one
It is an unfortunate fact that a few credit card companies will take advantage of people who do not understand how the cards should be used. These companies have adopted policies which protect their own interests instead of the interests of the customers. It should be a priority, when you are choosing a credit card, to study the agreement to find any hints of a scam.
Some offers should be thoroughly investigated, whether the offer comes in the mail or on the web. These offers may include advance fees, debt suspension, or credit protection.
Just pay a small advance fee and receive your credit card no matter what your credit rating is. At first it seems to be a reasonable request. These same companies may also make their offer more attractive by saying you will receive a large credit line for a small interest rate. If you seem to be slightly suspicious, the fee is explained as a necessary part of the process to change your application to pre-approved. If you do pay an advance fee, it will probably result in a loss of your money and you will never see your credit card.
Debt suspension is offered by most of the major credit card companies as a service to their customers. This enables them to provide relief through temporary suspension of debt until payments can be resumed. There may be circumstances that keep their customers from paying off their balances, such as medical problems or loss of work. Some companies prey on the fact that many people do not know that legitimate card companies offer this protection free of charge. As a way to scam the customer they offer this service for a fee.
Credit cards are federally protected against loss or theft. Independent agencies, however, offer credit protection programs for a fee. Credit cardholders who lose their cards or have them stolen, or used without their permission are protected by the credit card companies. It is a complete waste of your money to seek out and pay for such unnecessary protection. There is little chance of being compensated for a claim in these situations.
Watch for these credit card scams and some others which use an ignorance of credit card protections and policies against cardholders. The main objective is to keep from making these costly mistakes and to hopefully keep more money in your pocket.
Both Zack Nelson & Joseph Kenny 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.
Zack Nelson has sinced written about articles on various topics from Credit Cards, Flirting Tips and Credit Cards. Zack Nelson recommends Find Credit Cards to find a Chase rewards card. See for more information.. Zack Nelson's top article generates over 40500 views. to your Favourites.
Joseph Kenny has sinced written about articles on various topics from Credit Cards, Debt Consolidation and Credit Cards. Joe Kenny writes for the credit card comparison site www.creditcards121.com, with information on . Visit today to compare and apply for a. Joseph Kenny's top article generates over 550000 views. to your Favourites.