Beware of Credit Card Scams
Credit Card Scams are Haunting the Web
There are a few common credit card scams that are haunting the web. If you don’t read the following, you may just fall prey to one of them.
Annual Fee in Advance
If a credit card company asks you to pay an annual fee in advance, run the other direction. You should never have to pay an annual fee before being accepted. Reputable credit card companies that charge an annual fee will charge that annual fee to your credit card, they won’t expect you to pay for it up front before you even get the credit card.
Most of the time, if a credit card company asks you to pay in advance, you’ll pay the fee and then you won’t hear from the credit card company again. And forget trying to track them down to get your money back. It will be a fruitless venture.
Fraud Protection Insurance
Many so-called insurance companies are trying to sell people credit card fraud insurance. This is, unfortunately, one of the more common credit card scams. The fact of the matter is, you don’t need credit card fraud insurance. You are protected under federal law to be responsible for only the first $50 of fraudulent credit card charges.
Remember, before you pay for anything in relation to credit cards, make sure you’re on top of credit card scams and that you know what to look for!