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June 01, 2011

  • Warning Signs Of Credit Scams, Pt.1
       No time off for thieves.

    Identity and credit card thieves do not take time off; they continue to search for new ways to victimize consumers on a daily basis. Repairing the damage caused by identity theft is a labor intensive and stressful task. Each individual must take an invested interest in reducing their risk for identity and credit card fraud. Here are few of the most common methods that fraudsters use to scam Americans into turning over personal information. If you are committed to becoming more aware of these tricks, you will be less likely to become a victim.

    If you have a credit card then chances are you have been contacted by a representative of your lender trying to sell you credit insurance. Credit insurance is aimed at protecting your good credit rating by contributing to your credit card payment if you should become disabled, unemployed, or experience a health-related emergency. The premiums for these types of policies typically are calculated as a percentage of the credit card balance. Many card companies offer the service, but there have been a growing number of fraudulent companies outside the card companies offering the same service at a lower fee. However, when it comes time to pay up, these companies don't follow through. Before signing up any credit insurance, you should always research the company to ensure legitimacy. If you are signing up for credit insurance when signing any loan papers, make sure the policy can be cancelled.

    Online dating has become more and more popular and whenever there is popularity, there is a thief lurking in the background just waiting for someone to slip up. Online dating schemes are no different. There are two types of online dating schemes, one from the website collecting a fee and the second from a potential mate looking for their next victim rather than a mate. Some online dating sites charge a fee for services. Fraudulent services ask for credit card data to pay the fee and other personal information to steal your identity. Before signing up with any online dating site, research the company to ensure they are legitimate. When talking to any potential mate, be choosey and do not hand out any personal information. As with any personal relationship, you should always move slowly and proceed with caution. Read part two to learn more ways to protect your identity. 

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