The holiday season is a time of giving and celebration. It’s also a time when many individuals are more vulnerable to credit card scams. As the holiday frenzy ensues, we often let our guard down and become more susceptible to various scams. This is especially true of those targeting our credit cards. In this guide, we’ll explore the warning signs of holiday credit card scams, offer tips to protect yourself, and provide valuable insights on how to shop safely during this festive season.

5 Warning Signs of Holiday Credit Card Scams

  1. Too Good to Be True Offers: Scammers are skilled at creating enticing offers that seem too good to pass up. These may include unbelievable discounts, freebies, or exclusive deals that ask for your credit card information upfront. Be wary of deals that promise substantial savings without any catch.
  2. Unsolicited Emails and Messages: Watch out for unsolicited emails or texts from unknown senders offering fantastic holiday deals. These messages might contain links leading to fake websites designed to steal credit card information or install malware on your device.
  3. Phishing Scams: Holiday-themed phishing emails and websites can look remarkably convincing. They may impersonate well-known retailers, banks, or delivery services, urging you to click on a link or provide sensitive information. Always double-check the sender’s email address and the URL before taking action. Remember, Guthrie Community Credit Union will never contact you to request personal or financial information!
  4. Fake Charities: Scammers often exploit the spirit of giving during the holidays by creating fake charities. They may request donations using credit card information only to pocket the money. Always verify the legitimacy of a charity before making a donation. Use trusted platforms like Charity Navigator or the BBB Wise Giving Alliance to research a charity.
  5. Overly Pushy Salespeople: In physical stores, be cautious of overly aggressive salespeople who press you to complete transactions or provide credit card details hastily. This could be a sign of an in-store scam. 

Tips for Protecting Yourself

  • Verify Retailer Authenticity: Stick to well-known, reputable retailers when shopping online or in-store. Check for secure websites with ‘https’ in the URL and look for customer reviews and ratings to ensure legitimacy. If in doubt, research the store or contact their customer service before purchasing.
  • Use Secure Payment Methods: Opt for secure payment methods such as credit cards and digital wallets whenever possible. Credit cards offer added protection against fraud, and you can dispute charges if needed. Consider applying for a Guthrie Community Credit Union credit card. A Guthrie CCU credit card offers users EMV chip technology and VISA’s zero liability policy*. Avoid using debit cards, which are directly linked to your financial account.
  • Strong Passwords and Two-Factor Authentication: Use strong, unique passwords for your online accounts, especially those related to financial transactions. Implement two-factor authentication whenever available to add an extra layer of security.
  • Monitor Your Statements: Regularly review your credit card and financial statements for unauthorized or suspicious charges. If you spot something unusual, immediately report it to your credit card issuer or financial provider.
  • Educate Yourself and Others: Share information about credit card scams with your friends and family to help protect them from falling victim to such schemes. Awareness is a powerful defense.
  • Install Antivirus and Antimalware Software: Keep your devices protected with up-to-date antivirus software to prevent malware attacks that may compromise your credit card information.
  • Be Wary of Public Wi-Fi: Avoid making online purchases while connected to public Wi-Fi networks, as they can be less secure. If you need to shop online, use a trusted Virtual Private Network (VPN) to encrypt your connection. 

How to Shop Safely this Holiday Season

  • Plan Ahead: Create a holiday shopping budget to avoid overspending and financial stress. Stick to your budget to prevent impulsive purchases that could put your credit card at risk.
  • Shop Early: Start your holiday shopping early to avoid last-minute pressure. Shopping in advance gives you more time to research products, compare prices, and make thoughtful decisions.
  • Shop Locally: Support local businesses by shopping at small retailers and markets. They often provide a personalized shopping experience and can be more trustworthy.
  • Gift Cards: Consider using gift cards as a safe alternative to credit cards for online or in-store shopping. Gift cards limit your financial exposure in case of a data breach or fraudulent charges.
  • Beware of Unsecured Websites: Never enter your credit card details on unsecured websites. Look for the padlock icon in the browser’s address bar or check the URL for ‘https’ to ensure the site is secure.
  • Keep Receipts: Always request and keep receipts for your holiday purchases. They can be valuable for returns, exchanges, or warranty claims.
  • Avoid Panic Shopping: Shopping at the last minute while tired or stressed can lead to hasty decisions and overspending. Wait until you are alert and in control before making important purchasing decisions.
  • Check Return Policies: Familiarize yourself with the return and exchange policies of the stores you plan to shop at. This will help you avoid any unexpected issues if your gifts need to be returned or exchanged.

Celebrate with a Safe Holiday Shopping Season

The holiday season is a time to celebrate and share with loved ones, but it’s essential to remain vigilant against holiday credit card scams. Awareness of warning signs, implementing safety measures, and following the tips in this guide can help you shop safely and enjoy a stress-free holiday season. Remember that the best gift you can give yourself this holiday is the gift of financial security.

Enjoy more holiday shopping tips in our blog article, “Tis the Season to Save: Mastering the Art of Frugal Holiday Shopping.”

Disclaimers

* Visa’s Zero Liability Policy covers U.S.-issued cards and does not apply to ATM transactions, PIN transactions not processed by Visa, certain commercial card transactions, or any transaction not processed by Visa.