You should usually beware of credit card scams simply because many are used to cheat people who haven’t heard about them. Suddenly an email shows up saying hurry and go to (a link is given) to save your account from being swindled. They will stop the crook from cheating you they say.

If you click, the link takes you to some website where they urge you to hurry. They tell you to repeat all your personal info on a form (they wish to be sure you are legitimate). If you cooperate, you’re giving them all your personal information, including your social security number.

Of course, the website does not have anything to complete with your financial institution. They are simply obtaining you to share your information. After it’s all over, you suddenly understand what happened. He rapidly shops for expensive jewelry and electronics before you are able to report the numbers stolen.

He might scam you by starting with a Visa card number that he knew was legitimate. Then he tried a series of numbers and expiration dates. He begins with the number following the one he understands is good. For example, the last four digits are 2222 and he then tries 2223.

Next he tries out expiration dates till he finds one that matches. Then he verifies that it works by producing a purchase. He immediately voids it to avoid alerting the real owner of the numbers.

The next step is to find a gullible seller who will permit him to order an expensive item and split the cost among 3 or four credit cards. He has the goods shipped overnight. Through the time the vendor is notified that the legitimate owners of those credit cards are denying the charges, the scammer is long gone.

Since the actual card proprietor can’t be charged more than $50 from the amount charged through the scammer, the card company has to take the loss. Then we all pay higher prices like a result. Beware of credit card scams. If an e-mail arrives from an unfamiliar person, click delete without even opening it.

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