According to moneywatch.com the Federal Trade Commission has “busted up an elaborate and long-running international scam said to net more than $10 million in bogus nickel-and-dime credit card charges. More than a million consumers were hit with credit card charges of $10 or less by fake shell companies, said the agency.”
The column by Linda Stern says that the “elaborate ruse that may have been going on for four years. The perpetrators set up phony companies to charge small amounts to legitimate consumer credit and debit cards, said the FTC. It’s not clear where they got the card numbers, but they may have actually done credit checks on the consumers to make sure the card numbers were legit before they charged them.”
Make sure you check your credit card bill and bank statement carefully to make sure you weren’t a victim. Look for small charges you don’t recognize.
* Keep your receipts. That way you’ll be able to match up your actual charges with the ones that show up on your bills. And you’ll make it harder for crooks to steal your credit card number in the first place. Many of those thefts still take place near restaurant and retail trash bins and sidewalk recycle buckets, and not online. So keep your paperwork close to you, and shred it when you’re done.
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Scam about credit cards. My goodness, but we know this has been ongoing since credit cards became de rigeur. But what of the ‘scam’ perpetrated on the public by the Credit Card Cos. I maxed out a card in late October 09. Although I had paid steadfastly MORE than the amount due for years [and I do mean years], my interest rate changed. It was not … See Moreraised by 5%, not by 10%, not by 15%, it was raised to 29%. Couldn’t have been at a worse time, but then again for a person with small income, anytime IS a worse time. I spent the next seven months paying down the debt. I paid down more than 60%. When I called the bank’s service people, not a one would do anything but read me the riot act. It was not until I walked into the bank, that I met a man who basically got through to someone via phone who was willing to lower the interest rate. I think the fact that I came in with a pillow, my pajamas, and a blowup mattress was the giveaway that my concerns were not to be taken lightly.
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A 30 year credit card and my rate went from 7% in 1983 to 23% with never a late payment or an overcharge. They don’t give any reason except thats the way it is and no one speaks english clearly when you do call.