Last week, we had a discussion with one of our colleagues, Samantha, who informed us about an awful scam she had fallen victim to. As she explained, she saw an ad for a pair of shoes on Facebook. The retailer offered the shoes for a decent price and provided a link with which online users could place the order directly.
Samantha ordered the shoes and was then informed that the delivery would take 3-4 weeks to arrive. A month later, she had neither heard from the merchant nor received any package. She contacted them via email, only to discover that the product had only just been shipped. It would take another 3-4 weeks for her to finally get her shoes. Samantha was even given a tracking number to help her stay on top of the package.
Inside was a tiny heart-shaped pendant. There were no shoes in sight. Naturally, she contacted the merchant again to complain about the far-too-long span of time it took for her package to arrive and the fact that the package didn’t contain what she ordered. The merchant claimed they would look into the matter.
Samantha had had enough. She was especially upset after going online to read numerous poor reviews about the merchant, including details from other consumers who had actually received the same heart pendant instead of the shoes they ordered. Samantha wisely contacted her credit card company to inform them of the fraudulent scheme that this particular merchant was apparently pulling off.
Thankfully, her credit card company opened up an investigation into the charge placed on the account and credited Samantha in full for the amount she paid. She was understandably very relieved. Even though she didn’t receive the product she ordered, she was thankful to not have had to bear the burden of wasting her money.
If Samantha had paid for her order using any other payment method, her success in getting her money back may not have been so easy.
As the Canadian Bankers Association advises, “if you have charges on your credit card that you didn’t make or if you think that you may have revealed your credit card number when you shouldn’t have, contact your credit card issuer right away using the phone number on the back of your card. The card issuer will take the appropriate steps to protect you from fraud.”
Your bank is there to protect you, says the CBA. And this is certainly the case when it comes to lost and stolen credit cards as well. Unlike cash, a lost or stolen credit card can easily be replaced. Simply contact your credit card company the second you realize your card is missing.
“The sooner you report a missing credit card the sooner your credit card issuer can cancel your credit card and prevent fraudulent charges,” writes Latoya Irby on TheBalance.com, “Reporting your lost or stolen credit card as soon as possible lowers the likelihood that you’ll have to pay for any fraudulent charges made on your credit card. Write down your credit card companies’ customer service number now so you’ll have them if your credit cards are ever missing.”