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Tips on credit card protection
Credit Card Care Can Save Senior Citizens
Devastating Losses
By Tucker Sutherland, editor,
SeniorJournal.com
March 4, 2005 One of the most devastating
financial losses many senior citizens fear is loss of their credit
cards. It happens regularly - maybe older people are targeted - but many
of these incidents can be prevented with just a little extra caution.
Here are some interesting stories about credit card losses that may suggest ways you
can be more careful.
My mother was shopping in a busy department store
during the Christmas rush. There were several customers standing at the
checkout waiting to pay for their merchandise and a couple of clerks
trying to help them.
Finally, it was my mothers turn and she gave them
her store credit card. Everything about the transaction was normal.
In January, however, she received her bill that was
loaded with charges of items she did not purchase. As we studied it more
carefully, we also determined it did not contain charges for several
things she did buy. We got out her card to look at it and she had
someone elses card. There had been an unintentional switch at the busy
checkout.
She did not lose any money but it took months and
several visits to the store to get the whole situation rectified.
A friend tells of a man who went to the local gym
and placed his belongings in the locker. After the workout and a shower,
he came out, saw the locker open, and thought to himself, "Funny, I
thought I locked the locker. Hmmmmm." He dressed and just flipped the
wallet to make sure all was in order.
Everything looked okay - all cards were in place. A
few weeks later his credit card bill came - a whooping bill of $14,000!
He called the credit card company and started yelling at them, saying
that he did not make the transactions. Customer care personnel verified
that there was no mistake in the system and asked if his card had been
stolen.
"No," he said, but then took out his wallet, pulled out the credit card,
and yep - you guessed it - a switch had been made. An expired similar
credit card from the same bank was in the wallet. The thief broke into
his locker at the gym and switched cards.
Verdict: The credit card issuer said since he did
not report the card missing earlier, he would have to pay the amount
owed to them. How much did he have to pay for items he did not buy?
$9,000! Why were there no calls made to verify the amount swiped? Small
amounts rarely trigger a "warning bell" with some credit card companies.
It just so happens that all the small amounts added up to big one!
Another man at a local restaurant paid for his meal
with his credit card. The bill for the meal came, he signed it, and the
waitress folded the receipt and passed the credit card along. Usually,
he would just take it and place it in his wallet or pocket. Funny
enough, though, he actually took a look at the card and, lo and behold,
it was the expired card of another person.
He called the waitress and she looked perplexed.
She took it back, apologized, and hurried back to the counter under the
watchful eye of the man. All the waitress did while walking to the
counter was wave the wrong expired card to the counter cashier, and the
counter cashier immediately looked down and took out the real card. No
exchange of words --- nothing! She took it and came back to the man with
an apology.
Verdict: Make sure the credit cards in your wallet
at yours. Check the name on the card every time you sign for something
and/or the card is taken away for even a short period of time. Many
people just take back the credit card without even looking at it,
thinking that it has to be theirs.
For your own sake, develop the habit of checking
your credit card each time it is returned to you after a transaction!
Another man tells of when he went into a pizza
restaurant to pick up an order that he had called in. I paid by using
my Visa Check Card, which, of course, is linked directly to my checking
account. The young man behind the counter took my card, swiped it, then
laid it flat on the counter as he waited for the approval, which is
pretty standard procedure, he said.
While the clerk waited, he picked up his cell
phone and started dialing. I noticed the phone because it is the same
model I have, but nothing seemed out of the ordinary. Then I heard a
click that sounded like my phone sounds when I take a picture. He then
gave me back my card but kept the phone in his hand as if he was still
pressing buttons.
Meanwhile, I'm thinking: I wonder what he is
taking a picture of, oblivious to what was really going on. It then
dawned on me: the only thing there was my credit card, so now I'm paying
close attention to what he is doing.
He set his phone on the counter, leaving it open.
About five seconds later, I heard the chime that tells you that the
picture has been saved. Now I'm standing there struggling with the fact
that this boy just took a picture of my credit card. Yes, he played it
off well, because had we not had the same kind of phone, I probably
would never have known what happened.
Needless to say, I immediately canceled that card
as I was walking out of the pizza parlor. All I am saying is, be aware
of your surroundings at all times. Whenever you are using your credit
cards, take caution and don't be careless. Notice who is standing near
you and what they are doing when you use your card. Be aware of phones
because many have a camera phone these days.
When you are in a restaurant and the
waiter/waitress brings your card and receipt for you to sign, make sure
you scratch the number off. Some restaurants are using only the last
four digits, but a lot of them are still putting the whole thing on
there. Being a victim of credit card fraud is not fun.
A friend paid for dinner at a restaurant with her
credit card and wrote in a tip of $30.00 on the card receipt the signed.
Just be chance, she decided to check that amount of her total bill by
accessing her credit card information online the next day. It was higher
than she had expected. A call to the restaurant provided the information
that her tip charge was $80.00, an easy number for someone to create
from the $30.00 she actually wrote.
The truth is that they can get you even when you
are careful, but don't make it easy for them.
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