Beware of Card Declined Scams

Card Declined Scams on the Rise

In the digital age, threat actors, cybercriminals looking to steal your financial information, have become more sophisticated than ever. These criminals have been creating fake advertisements that lure unsuspecting shoppers with “too good to be true” deals for years. Once a person tries to make a payment for a fake product or service, their payment information is stolen, and they never receive the item they thought they purchased.

But now, the criminals have found ways to increase their profits by doubling or even tripling their chances of stealing your payment data. Here’s how it works: After you enter your payment information, the fake site will display a message saying that your card was declined. Many shoppers then try a different card, unknowingly handing over even more payment data. Some people have even tried three or more cards before realizing something is wrong. By that point, the criminals have captured multiple cards’ worth of sensitive information, which can lead to fraudulent charges.

So, how can you protect yourself from falling victim to Card Declined Scams?

Tips to Protect Your Payment Information

1. Use a Credit Card Instead of a Debit Card

Credit cards often provide better fraud protection than debit cards, making them a safer option for online purchases. If fraudulent charges are made, it’s typically easier to dispute them with your credit card company and prevent funds from being drained directly from your bank account.

2. Verify the Legitimacy of the Business

Before making a purchase, take a few minutes to research the business. Look for reviews, confirm contact information, and ensure you shop on a legitimate, well-known site. Be cautious with unfamiliar websites, especially if they don’t have secure (HTTPS) connections.

3. Avoid Shopping Through Ads

One of the easiest ways to fall victim to a scam is by clicking on ads that lead to fraudulent websites. Instead of clicking on an ad for a deal, go directly to the retailer’s website or app and search for the offer yourself.

4. Be Skeptical of “Too Good to Be True” Deals

If a deal seems unbelievably cheap or sounds too good to be true, it’s likely a scam. Cybercriminals often use deep discounts or limited-time offers to entice you to make quick decisions without considering security.

5. Watch Out for Flash Sales and Urgent Offers

Scammers often create a sense of urgency by promoting flash sales or countdown timers that push you to act quickly. This rush can lead you to skip essential steps like verifying the legitimacy of the business or transaction.

Stay Safe and Secure

At People Driven Credit Union (PDCU), we’re committed to helping you keep your financial information safe and protected from Card Declined Scams. By following these tips and staying vigilant, you can protect yourself from becoming a victim of online payment fraud. If you suspect your payment information has been compromised, contact your bank or credit union immediately.

For more advice on securing your accounts, contact us at 248-263-4100.

Stay vigilant and protect your finances!

Contact Us:

If you have any questions or need further assistance, please contact our Member Services team at (248) 263-4100 or visit a branch. We greatly appreciate your attention to this important matter.

Thank you for your cooperation in keeping our community safe from counterfeit currency and learning about Card Declined Scams.

For more information on how to keep you and your personal information safe, visit our webpage on fraud alerts.