View Single Post
 
Old 02-24-2011, 06:35 AM
Bryan's Avatar
Bryan Bryan is offline
Veteran member
Join Date: Dec 2008
Location: Village of Alhambra
Posts: 834
Thanks: 0
Thanked 3 Times in 3 Posts
Send a message via MSN to Bryan
Default

A few comments, because this is a subject near and dear to my heart.

First, the title of the post was "credit" but in the first sentence, we learned it was a "debit" card. The terms are often used interchangeably but they are vastly different and, to a large extent, different rules apply. The biggest difference, in my mind, is "Where is the money if you have a problem?". With a credit card, the money is in your banking account until you pay you credit card bill, which will probably not be until after you contest and resolve the problem. With a debit card, the business (or scam artist) has YOUR money while the problem is being resolved.

To answer TrudyM's questions, yes, those readers are still around - little hand-held scanners. There is also a thing/device called "traps" which many con artists install on ATM machines and (according to recent articles in Florida newspapers and on TV news) gas pumps. They "trap" your personal info and give it to the bad guys.

Technology is making it easier for the bad guys also. If you happen to have a new credit or debit card with an RFID (Radio Frequency ID) chip in it, they can steal your personal information while the credit card is safely in your pocket, wallet, or purse. The VHA newsletter, in their October 2010 issue, had a great article from Seniors Vs Crime on this. You can read it by going to their website at http://www.thevha.net and then clicking on their link for The Villages Voice. I know, you wouldn't have one of those cards. WRONG! You have a gate pass for TV then you have one of those cards (although one without a lot of personal info on it, I think). You have a new passport that only has to be "waved" at the scanner - you have one of those chips in your passport. Many newer credit card have the RFID chip in them.

There is also a very active scam going around to trick you out of the security code on the back of your credit card - those "magic" three numbers you need when ordering online or over the phone. Seniors Vs Crime is aware of this one and plans an article in the VHA bulletin probably for this summer.

It all sounds bad, and scary. Your best defense is good ole plain common sense. No one will watch out for you better than you.