The Bottom Line on the Latest Credit Card Scam

    STAMFORD, CT, July 10, 2015 /24-7PressRelease/ -- How many of you have received calls from the fraud alert department of your credit card company this year, this month, this week? Just guessing that most of you have been contacted by phone, by a bank, or by a credit card company to verify account activity in the last 12 months. Problem: Even those phone calls may be a fraud.

In the latest credit card scam, you receive a call stating it's from someone who claims to work in your credit card issuer's fraud department. The caller reads your credit card account number and tells you there has been suspicious activity on the account. Then the caller asks about a specific purchase. When you say you did not make the purchase, the caller tells you a new account will be set up for you and this one will be closed. The caller then tells you that you will not be responsible for the fraudulent activity but wants to know that you have the card in your possession. To prove you have the card, the caller requests that security code from the back of the card. If you give the security code to the caller they now have all they need to use your card anywhere they want and you have been scammed.

"In the past year, my husband and I have received at least 4 calls from the fraud division of our credit card company. It's happening to everyone - and you have to be on high alert every step of the way" states Sarah Hiner, CEO and President, Bottom Line Publications. "With fraudsters getting more sophisticated every day, it is critical to understand all of the tricks that they will use on you. (For example, knowing what to look for in caller id.) That's why we speak to the top experts in the field. It's so easy to get caught in the web of a scam when you don't know what to look for."

Bottom Line expert Curtis Arnold, founder of the news and review websites www.CardRatings.com and www.BestPrepaidDebitCards.com shares what to do in the July 15th issue of Bottom Line Personal the next time you receive a fraud alert from your credit card company. Arnold says if a caller claims to be from your card issuer's fraud-prevention department, ask for the caller's name and/or employee ID, hang up, then call the 800-number on the back of your card (not the phone number the caller gives you)and ask to speak to the fraud- prevention department or that particular employee. If the call was not from the card issuer, explain that your account number likely has been stolen. The issuer will give you a new card with a new number. It's that simple and it makes sense but when you are caught off-guard, even the smartest people can get fooled.

This article can be found in the July 15 issue or Bottom Line Personal or at http://bottomlinepersonal.com/?s=%22Credit+Card+Scam%22. This issue also features articles about the Hazards of Back-Up Cameras; The 12 Best Road Trips in America; 5 Ways to Get Rid of Stubborn Belly Fat to Reduce Your Risk for Heart Attack, Diabetes and Cancer, and the latest on Robo-Investment Advisors.

About Bottom Line Personal

Bottom Line Personal is the #1 source for expert answers to life's many challenges. Our mission is to provide consumers with easy to understand, easy to read and easy to follow information to protect their health, their wealth and help them live happier lives. Bottom Line works closely with our carefully selected team of top experts from academia, business and award winning authors to synthesize today's complex issues and provide simple steps to improve the lives of our millions of customers. For the latest expert advice visit bottomlinepersonal.com

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