$1 scam check your statements

Extreme z28 · 09:32 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

fffresh · 10:26 AM

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 · 06:32 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 · 01:16 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 · 02:26 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 · 08:18 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 · 08:08 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 · 05:53 AM

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

Mogul of Pineapples · 03:00 AM

Quote:

Originally Posted by Floppster

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.

Floppster · 07:06 PM

Quote:

Originally Posted by Mogul of Pineapples

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

09:32 AM	#1
Extreme z28 Green Member Join Date: Jan 2009 Location: Los Angeles Posts: 17	$1 scam check your statements 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

05:53 AM	#8
Floppster Centurion Member Join Date: Sep 2008 Location: US Posts: 189	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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10:26 AM	#2
fffresh Centurion Member Join Date: Apr 2008 Location: the edge of the world Posts: 412	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.

06:32 PM	#3
bozell Platinum Member Join Date: Jun 2008 Location: c-town Posts: 58	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.

01:16 PM	#4
Kino Gold Member Join Date: Apr 2008 Location: Vegas baby! Posts: 41	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.

02:26 PM	#5
indianamom Gold Member Join Date: Oct 2008 Location: Bloomington Posts: 35	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!

08:18 PM	#6
goober Gold Member Join Date: Jul 2008 Location: OBX Posts: 32	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?

08:08 AM	#7
bikermike Platinum Member Join Date: Apr 2008 Location: Georgia Posts: 69	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.