The Very Best Ways to Prevent Credit Card Fraud

Credit card fraud can happen in two ways: existing-account fraud where thieves access a current credit card account by stealing either your credit card information or your login information with an online retailer; or new-account fraud where fraudsters apply for a new credit card account in your name by using your Social Security number, address and other identifying information. There’s no surefire way to eliminate the threat of credit card fraud entirely. But here are 15 things you can do to limit your exposure. [US News & World Report]

Credit card pitches could now be coming from your flight attendants. (Shutterstock)

United Becomes Latest Airline to Deploy Flight Crews to Pitch Credit Cards

In a message sent to his flight crews, John Slater, the senior vice president of inflight services, shared that as of September 1, United would start requiring its flight crews to pitch the card on every domestic and international flight that the airline operates. The company is rolling out new, required training to educate crews on the benefits of the card. To motivate crews, Slater also shared that a promotional $100 kickback would be given to any flight attendant who acquired a customer, up from the current $50 bonus. [Skift]

Most Americans Would Give Up Social Media to Erase Credit Card Debt

Most Americans said they would give up social media, among other things, to get rid of their credit card debt. Credit card debt has continued to climb over $1 trillion, with the average cardholder having a balance of $6,375. One in three Americans is losing sleep over their debt, and one quarter report that debt has hurt their relationships with family. 68% of those with debt on their credit card are concerned about how they will pay it off, but very few have plans in place to get rid of it. [CNBC]

Personal Loans Now Fastest Growing Consumer Debt

Personal loans are the now the fastest growing consumer debt category. Outstanding personal loan balances now stand at $120 billion. A personal loan is an unsecured loan typically from $1,000 to $100,000 with fixed or variable interest rates that can be used to make a large purchase or to consolidate debt. Borrowers can use personal loans for credit card debt consolidation, home improvements, medical bills and other major life expenses. [Forbes]

Mastercard is in Talks with UK Banks About Launching Cards with Fingerprint Scanners

Mastercard is holding talks with banks in the U.K. about bringing biometric payment cards to market. The firm has been testing cards with in-built fingerprint scanners, which are used to verify customers’ identities. This is intended to replace the use of passwords and speed-up the process of making payments online and contactless transactions in-store. [CNBC]

Macy’s Customer Credit Data Hacked In Breach

Macy’s has become the latest retailer to be hit by customer data intruders. The company said  hackers got the names and passwords of some customers and may even have gained access to their credit card numbers and expiration dates, though not the four-digit security codes, which it does not store. [Fortune]

Barclays Has Brought Back One of its Most Popular Credit Cards

Earlier this year, Barclays closed new applications for its popular Barclaycard Arrival Plus card, and announced a new card, the Barclaycard Arrival Premier. Now, it’s announced that the Arrival Plus card is being made available again, and it’s offering the highest-ever sign-up bonus on the card. Following the re-launch, the Barclaycard Arrival Plus is offering a sign-up bonus of 60,000 miles after spending at least $5,000 within the first 90 days of card membership. The card also earns double miles on every dollar spent. [Business Insider]

Starbucks’ Mobile Payments Systems Still Percolating Growth

Starbucks showed us how mobile order-ahead can mean huge bumps in sales, and also what happens when you don’t prepare for those huge sales bumps at the individual store level. The Starbucks mobile order-ahead empire is still gaining ground. This year, an expected 23.4 million users over the age of 14 will make a point-of-sale purchase with the app at least twice a year. Given that Apple Pay itself will only see 22 million users do likewise, that’s no mean feat. Comparing it to Samsung Pay’s nine million and Google Pay’s one million only makes Starbucks look better. [Payment Week]

Ticketmaster Breach May Be Part of Much Larger Scam

In June, Ticketmaster announced a breach that affected 5% of their customers. However, RiskIQ released a report indicating the breach may have been much larger than initially reported. The  breach may be part of a much larger attack by a threat group called Magecart, and could affect over 800 e-commerce sites worldwide. Magecart is a group that digitally skims credit card information from online transactions. They target developers that provide software to larger retailers. The criminals are able to rewrite the software code so payment card details are sent to them instead of the retailer. [LowCards.com]

LL Bean Gets a New Credit Card Partner

Outdoors retailer L.L. Bean has a new credit card vendor, partnering with Citi Retail Services and Mastercard after ending its relationship with Barclays and Visa. The card offers rewards points on purchases and free monogramming on L.L. Bean purchases as well as offering free shipping on all L.L. Bean purchases. [Associated Press]

Track Fraudulent Use of Your Social Security Number With Capital One’s CreditWise Tool

Capital One’s CreditWise, a free credit tracking tool, will now alert you if and when someone uses your Social Security Number to apply for a new line of credit or open another financial account. Anyone can use the service. It also tracks your credit reports from Experian and Transunion, notifying you of any changes, as well as alerting you if your email address or SSN are found on the Dark Web. CreditWise also offers steps to take to improve your score, and lets you know how you rank in various credit factors. [LifeHacker]

Provided by LowCards.com



Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here