Credit Card Protection Offers are Almost Always a Scam

When you have a credit card, you must be aware of the dangers of credit card theft and credit card fraud. It can be very scary for a consumer to think about all of the credit card scams that are floating around out there today. Of course, as a consumer you will be looking for credit card protection offers. But the thing that you need to be aware of, is credit card protection offers, are almost always worthless.

Scam artists often prey upon the fears of unsuspecting credit card users. More often than not, if you receive a phone call about credit card protection offers, you should be suspicious. These offers will warn you against identity theft and credit card fraud. And they are likely to use scare tactics to convince you to buy their credit card protection.

However the Federal Trade Commission recommends that you do not take part in any additional credit card protection offers besides those that your own credit card company recommends. The FTC states that as a consumer you are only liable for $50 of any unauthorized credit card charges, therefore additional protection would cost more than it is worth and in effect, be useless.

Be sure to check your credit card agreement carefully, the agreement should state that you are only liable for $50 of any unauthorized charges, thus you would not need to accept any additional credit card protection offers.

This type of scam is becoming very popular right now. The person who phones you will pressurize you into believing that you need to accept additional credit card protection offers. They will ask for your personal information over the phone. This may include your credit card number, social insurance number, address, phone number and mother's maiden name. The scam artist may then use your personal information to commit credit card fraud or identity theft!

The best way to protect yourself from credit card protection offers is to be aware of what your credit card company offers you, and to remember to never give out personal information over the phone or email.