3 On Your Side: Microchip Credit Card Scammers
Have your old credit cards been replaced yet with the new type that have a microchip? If not, you're not alone.
Now 3 On Your Side consumer reporter Jim Donovan tells us that scam artists are trying to cash-in on the delay in people receiving them.
At last check, less than 40% of us have gotten the chipped credit cards which are designed to reduce fraud.
Consumers don't have to request a new card, it will just show up... but not everyone knows that, and that's the problem.
The credit card industry is currently in the midst of a massive change. They are swapping the classic stripe and swipe cards, for new, chip-enabled cards aimed at offering better card security.
"It's the biggest change in the way we use credit cards in decades, and people aren't ready yet. There's a lot of confusion out there," said Matt Schulz with CreditCards.com
But not everyone has a chip-enabled card yet and now the Federal Trade Commission warns that scammers are capitalizing on confusion.
The FTC says scammers are sending fake emails that seem to be from a credit card issuer, asking for valuable personal information in order to send a new card.
In some cases the scam asks consumers to click on a link which could install malware.
The FTC says consumers should only enter personal data online when they've typed in the web address themselves, and can see the site is secure.
If you get an email from what appears to be your bank or credit card company and it requires you to reply with personal information or directing you to a link that ask for that sort of stuff, a big red flag should go up!
They just don't send out those sort of things. It's most likely a scam. If you get one, call your bank.
