|
Question: Have you had a call recently to purchase protection for
lost or stolen credit cards? How can you tell if the offer was
legitimate?
Answer: Telemarketers have been calling area Consumers and
promoting credit card protection. Solicitors may falsely identify
themselves as representing your credit card company and may use
high pressure or scare tactics.
Several Denver Consumers reported to the Denver District
Attorney's Office that they believed their callers were from their
credit card companies. After investigating one company, the Denver
DA's office discovered it's more likely that the Consumers were
being solicited by telemarketers unrelated to the credit card
issuers.
According to the Orlando-area Better Business Bureau (BBB),
Bankcard Security contacts Consumers' nationwide offering credit
card protection for $199.00 -- which they charged to the
Consumers' credit cards. The BBB reports Bankcard Security has an
"unsatisfactory business performance record," with a pattern of
complaints alleging delays in receiving refunds, and misleading
sales practices. The BBB's file shows the company has failed to
institute steps addressing the pattern of complaints.
Under federal law, the Fair Credit Billing Act (FCBA), if any
of your credit cards are missing or stolen you should:
- Report the loss immediately to the card issuer. Credit card
issuers have 24-hour emergency service. Check your statement for
the phone number.
- If you report the loss before the cards are used, the issuer
cannot hold you responsible for any unauthorized charges. If
someone uses your cards before you report them missing, the most
you will owe for unauthorized use on each card is $50.
- Know where your cards are at all times and keep them secure.
- Never give your credit card number over the phone unless you
know that you're dealing with a reputable company.
- Never put your account number on an envelope or a postcard.
- Do not sign a blank charge slip.
- Rip up carbons from the charge slip. Save your receipts.
- Open billing statements promptly and compare them with your
receipts. Report errors immediately. Under FCBA, the card issuer
must investigate billing errors if you report them within 60 days
of when your card issuer mailed the statement.
- In a safe place, separate from your cards, keep a record of
your card numbers, expiration dates and company phone numbers.
- Carry only those cards that you regularly use.
If you suspect that you were misled into buying credit card
protection, call the Fort Collins BBB at (970) 484-1348 the
Colorado Attorney General's Office at (303) 866-5189.
Source: Lisa Curtis, Denver District Attorney's Office
For more information, contact your local
Colorado State University Extension office.
|
