$1 scam check your statements

Get credit card fraud help: For victims of credit card fraud and identity theft, and those that can help.
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Extreme z28
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$1 scam check your statements

Postby Extreme z28 » Tue Jan 13, 2009 11:32 am

Good morning,
I'm new to the forum and would like to first of say hi to everyone. I found this and thought all of you would be interested in reading about it. It seems there are people now which are charging a very small amount on peoples credit cards and are making up the money just in quantity. Everyone should check their statements and see if there is a strange charge on them for $.25-$1.00. I have added the article to the post as well so you can read about it fully. Take care and have a great day.


Mysterious credit card charge may have hit millions of users - The Boston Globe


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fffresh
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Postby fffresh » Tue Jan 13, 2009 12:26 pm

Thank you for sharing this. As the article states- it's easier to steal a dollar from a million people than a million from one person. It appears to be a company is charging with that same mindset that they can make a little money off a lot of people.

However the article cites the amount at 25 cents. I do find this odd as even the lowest credit card processing fees are typically 20 to 30 cents, plus 1 to 3% of the transaction amount. That being said, I don't understand how they can be making a profit on 25 cents since that would be the processing fee alone. Perhaps they are testing cards in bulk to see if they are working in order to make bigger transactions down the road.

bozell
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Postby bozell » Wed Jan 14, 2009 8:32 pm

report fraudulent credit card charges no matter how small they are

i once disputed an extra $1 i was charged at a restaurant on my credit card total and they reversed it. don't let the crooks get away with nickle and diming you. unlike cash payments these crooks in that news story left a paper trail i bet they've been nabbed by now.

Kino
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Postby Kino » Fri Jan 16, 2009 3:16 pm

what kind of idiot would pull a scam like that? there's a paper trail of where all the money goes it's not like you can get away with it.

indianamom
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Postby indianamom » Fri Jan 16, 2009 4:26 pm

The saddest part about this is that the older credit card users may not catch this or may not know how to handle it. I remember hearing about a similar scheme involving automatic checking withdrawals and boy were a bunch of senior citizens duped with that one for a long time! :(

goober
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Postby goober » Mon Jan 19, 2009 10:18 pm

how do you dispute recurring charges on your credit card from monthly charges, memberships and those kinds of charges? what if you sign up for a service that does monthly credit card charges that you canceled and the keep billing? and in my case i didn't cancel because the customer service phone number didn't work and i couldn't reach them on their contact form on their site because they didn't answer?

bikermike
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Postby bikermike » Mon Feb 02, 2009 10:08 am

I heard about another scam out there where they would charge 23 cents and it sounds like they did that to test the cards out to see if they were active. Then after that they put on the big charges.

If you see one of these it should be a flag for you to expect future bigger charges. Trust me they aren't doing this to only make a few cents of you.

Floppster
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Postby Floppster » Sat Mar 07, 2009 7:53 am

Welcome to the past. This is probably the oldest credit card scam there is.
Intellectuals solve problems. Geniuses prevent them.
- Albert Einstein 1879-1955

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Mogul of Pineapples
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Postby Mogul of Pineapples » Sun Mar 08, 2009 6:00 am

Floppster wrote:Welcome to the past. This is probably the oldest credit card scam there is.


Na, I'd say the oldest is the old fashioned auto-recurring charge. A customer buys something or gets a "free" trial, but they don't know they are auto-enrolling in a monthly purchase or subscription. I don't see this hurting the younger ones as much but the elderly are often milked by this scam because they either don't notice it or don't know how to stop it.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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Floppster
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Postby Floppster » Mon Mar 09, 2009 10:06 pm

Mogul of Pineapples wrote:Na, I'd say the oldest is the old fashioned auto-recurring charge. A customer buys something or gets a "free" trial, but they don't know they are auto-enrolling in a monthly purchase or subscription. I don't see this hurting the younger ones as much but the elderly are often milked by this scam because they either don't notice it or don't know how to stop it.


That's like a cross sign up on websites. The good old days :D
Intellectuals solve problems. Geniuses prevent them.
- Albert Einstein 1879-1955



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