5 Killer Steps to avoid Credit Card SCAMS!
In August, 2004, the Federal Trade Commission issued their findings of a recent study, which showed that nearly 25 million adults were victims of fraud.
Now, most importantly, If you are a victim of fraud, please do not feel like you did anything wrong. It happens to all of us at one point or another, as the FTC's study clearly shows. Everyone likes a magic trick, and none of us are fully capable of noticing the con-artists' slight of hand. So, if you're a victim, take a deep breath. You're normal.
But, there's an old saying that goes something like this: Fool me once, shame on you?Fool me twice, shame on me!"
Here are 5 KILLER STEPS to protect yourself from Credit Card SCAMS!
1. NATIONAL NO-CALL REGISTRY:
There's nothing more annoying then those credit card offers that you get over the phone. I don't know about you, but the last thing I want to be doing, while having dinner with my 1 year old daughter and my beautiful wife, is to be annoyed by phone calls from solicitors that just want to make money off me. Legitimate or not, these calls are a nuisance. If you're like me, and you would rather live without dealing with these calls, then go do this:
Join the FTC No-CALL-Registry, and enjoy a reduction in telephone solicitation phone calls.
2. TELEPHONE SOLICITATION:
Believe it or not, the vast majority of lenders out there are legitimate. Also, believe it or not, a lot of these lenders utilize telemarketing as a method of reaching out to potential customers.
Who is this on the phone? Don't trust people you haven't had a chance to get to know. Don't let one enticing offer on a phone call, be your guide...
3. 1-900 NUMBERS:
A 1-900 number is, of course, a phone number that charges the caller per minute for making the call. Whether it's a 1-900 number, or a future manifestation of the same type of telephone service, be wary of doing business this way.
Use your common sense, and don't fall prey to the con artists slight of hand, such as the Advance Fee Load Scam...
4. ANNUAL FEES, INTEREST RATES, ETC.:
Credit Card Scams come in all different shapes and sizes. Many of them are, arguably, not scams at all, but let's just call them credit card offers involving consumer unfriendly terms.
c) Make sure you know what you are getting. Some offers are for secured cards, some are for unsecured cards, and some offers are for shopping portals online and offline (Like a department store card). So, while none of these are scams, by definition, it is important that you fully understand the terms of the credit card offer that you are agreeing to.
Be a responsible consumer, and read the terms and conditions of your credit card offer...
5. THE UNITED STATES FEDERAL TRADE COMMISSION::
The best place to go for direct consumer information, protection, and remedy, is the United States Federal Trade Commission...
The FTC is there to help...
SUMMARY:
Use the No-Call Registry to cut down telephone solicitations in your home and places of business. While many legitimate lenders utilize telemarketing, be careful. Don't give out personal information to people you don't know, don't pay up-front processing fees over the phone, and get everything in writing. Consider yourself an advised consumer on "Advanced Fee Load" Scams, and look out for the signs, when these scams regrettably make their way to you. Read the terms of the offers that you are considering, and utilize the FTC website for trusted information, resources, and all related materials on consumer credit card issues.
We've enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.
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About The Author
Tom Levine provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products. His website seeks to provide free online resources for the consumer, including rate-watch, tips and articles, financial communication, news, and links to products and services. You can check out Tom's website here: http://loan-resources.org, or you can email Tom at info@loan-resources.org.
Copyright 2004, by Loan-Resources.Org
MORE RESOURCES:
 Times Online | It's a hard time to get new credit San Francisco Chronicle, USA - (09-07) 17:48 PDT -- Credit - the grease that lubricates the economy - is in short supply now and apparently getting even shorter. ... Video: US takes over mortgage giants - 08 Sep 08 Treasury Extends Secured Credit Line to Federal Home Loan Banks City Republic: US tries to kill the credit crunch |
Credit card proposal may get vote in Congress CNNMoney.com - NEW YORK (Associated Press) - Deepening economic distress and concern over consumer debt could help legislation that would overhaul practices of credit card ... |
Ill. credit unions help with college aid Chicago Tribune, United States - AP CHICAGO - Authorities say eight Illinois credit unions are stepping up to plug college funding gaps wrought by the credit crunch for student tuition aid. ... Ill. Credit Unions Help With College Aid State Secures More For Student Loans Illinois Offers $100 Million College Assistance Fund |
Impact of the Credit Crunch on UK Mortgage Product Structures MarketWatch - Although it is unlikely to recover to pre-credit crunch levels, the mortgage market needs to stabilize in order for a traditional and affordable mortgage ... |
 Wall Street Journal | Credit Suisse Ex-Broker Pleads Not Guilty Wall Street Journal - By CHAD BRAY NEW YORK -- A former Credit Suisse Group broker pleaded not guilty to charges he and another broker misled investors about purchases of ... First indictments of brokers in auction-rate securities heist In Auction Securities Crisis, Are Brokers the Victims, Too? |
Credit due to the man who helps us beat the cheats Telegraph.co.uk, United Kingdom - Experian, the credit-checking giant, had just demerged successfully from its unlikely GUS stablemate, the catalogue retailer Argos, and Robert was a new ... New Experian Research Highlights the Effects of the Mortgage ... |
A Report on the UK Consumer Credit Market in 2007 and an Analysis ... MarketWatch - The UK consumer credit market has continued to contract in 2007, as various issues such as the liquidity squeeze, high personal debt levels and weaker ... |
Credit freeze helps thwart ID thieves Arizona Republic, AZ - OK, so you'll never see Credit Freeze in a comic book battle of good against evil wearing a cape and long underwear. But like other superheroes, ... ID protection can be do-it-yourself |
Henry Schein Announces New $400 Million Credit Facility MarketWatch - This new facility, which matures in September 2013, replaces Henry Schein's current $300 million revolving credit facility, which was scheduled to mature in ... |
 CCTV | New CEOs Are Untainted by Credit Woes Wall Street Journal - Herbert M. Allison Jr. and David Moffett were on a short list of financial-services executives untarnished by the credit-market troubles. ... Video: Feds Take Over Mortgage Giants Paulson Taps Allison, Moffett to Run Fannie, Freddie (Update1) |
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