Credit Card Skimmers: How to Spot and Avoid Them

Credit card skimmers are becoming easier to install and harder to spot, creating a real problem for consumers and law enforcement alike. A recent news story from CBS affiliate KESQ, however, offers a few tips for consumers who want to protect themselves from credit card thieves.

For readers unfamiliar with credit card skimming, a criminal places a device over top of an ATM, a credit card reader at a gas pump, or another publicly accessible credit card reader. As customers swipe their credit or debit card, the skimmer grabs and saves the card’s information. The criminal will usually find a spot to watch the scanner and write down PIN numbers for debit card users.

How do you avoid being a victim of this scam? First off, always use your credit card for these types of transactions. Credit cards typically have more safeguards in place so that even if someone steals the card, the cardholder will not be held liable for purchases. Debit cards typically don’t have these protections. Once the money is gone, it’s gone.

Second, check the card reader for anything unusual. If it looks like it has been tampered with, you might not want to use your card. Also, these skimming devices are built to be quickly installed and uninstalled, so if the card scanner itself is loose, contact the vendor and the proper authorities.

Finally, keep a close eye on your credit card transactions. Take 5 minutes every day to review any card charges online, and report anything that you do not recognize. Also, most credit card companies have alert systems available for cardholders. If there is an unusual charge, they will call or text you to verify the charge. Contact your credit card company and ask if you are currently enrolled for this service.

Want more spending and credit tips? Be sure to like My Credit Specialist on Facebook, follow My Credit Specialist on Twitter, and subscribe to My Credit Specialist on YouTube! Also, go to http://www.mycreditspecialist.com and find out if credit restoration is the right choice for you!

Image courtesy of Naypong / FreeDigitalPhotos.net

3 Steps to Protecting Your Online Shopping Sprees

The holiday season is here with Thanksgiving next week and Christmas just around the corner, which means one thing: Black Friday sales. Many stores are now offering exclusive deals online as well as in their physical stores, and consumers will be spending big bucks from online stores which brings up questions of keeping personal information safe. What can you do to keep your credit card information out of the hands of hackers and criminals?

Firstly, make sure to always shop from trusted online vendors. If you haven’t shopped from a website before, do a little research. Read reviews for the website, and if anything seems sketchy, don’t give out your credit card information.

Second, be vigilant. We encourage our readers to always review their bank and credit card statements for anything that looks out of place, but during the holidays, this simple step is even more important. Dispute any suspicious charges right away, and if you believe someone has stolen your credit or debit card information, contact your bank or credit card company immediately.

Finally, do not save your credit card information on websites. Most websites let you set up a profile and save credit cards on your account to make purchases more convenient, but when you can, don’t save any credit card information. Not only will you protect your credit card information from hackers but you will also cut down on impulse buys. In the time it will take you to pull out your credit card and type in the information, you will have thought about whether this is a good purchase or not.

Want more spending tips this holiday season? Check out My Credit Specialist on Facebook, Twitter, and YouTube! Also, go to http://www.mycreditspecialist to learn more about credit restoration and whether it is the right choice for you!

Image courtesy of KROMKRATHOG / FreeDigitalPhotos.net

I Love You, Phillip Morris-esque Credit Card Thief Uses Company Card for Fertility Treatments

In the 2009 film I Love You, Phillip Morris, Jim Carrey's character Steven does some creative accounting to steal from his company and support his extravagant lifestyle. Though the film is based on a true story, it is hard to believe that someone like Steven could pull off a similar scheme in today's business world, but Ligia Baciu of Orange County in California did just that.

Baciu worked at Sweet Life Enterprises from 2005 to 2009 in the accounting department overseeing the company's credit card accounts. During that time, she took out numerous company credit cards for her own use. Up until January 2010, Baciu spent over $236,000 on an engagement ring, hotel suites, designer clothing, and a new Audi. She even used a company card to pay for her domestic partner's fertility treatments.

The surprising part of the story is how long it took Sweet Life Enterprises to catch onto her credit card fraud after she left. Accountants at the company only discovered what Baciu was doing when they reviewed the company's credit card statements, and police just arrested her this week. She was charged with 21 felony counts of computer access and fraud and three felony counts of fraudulently using access cards, but still, she allegedly committed fraud for 5 years without getting caught. It took two years after she got caught for her to be arrested. Why has it taken this long?

Credit card fraud can happen to anyone, so check your credit card statements every month for suspicious charges. Also, make sure to keep your balance under 30 percent of your card's limit to get the best credit score possible. To get more tips for improving your credit health, follow My Credit Specialist on Twitter and like My Credit Specialiston Facebook. If you are struggling with bad credit, go to http://www.mycreditspecialist.com to find out if credit restoration is the right choice for you.