New Credit Card, Gift Card Scam. First the scam involving both credit and gift cards. What the consumer does is erase or ruin the magnetic strip in some way. Then when you run the credit card, it won’t read, so the clerk manually puts in the numbers, and maybe asks for ID and with the authorization in hand off they go. What happens is that you are REQUIRED to imprint the card if the stripe does not work, and it must have the customer’s name and your name on the slip. Without the imprint the charge will be reversed if contested. Second scam, involving Gift or Stored Value cards (issued by Visa/MC) is that it is possible to get an authorization with nearly no money on the card. These cards should ALWAYS be run as debit cards, that requires the consumer to enter a pin number. Without having the consumer entering their pin number you can be liable if there is not enough money on the card. These cards are NOT credit cards.
Posted on: Mon, 26 Aug 2013 22:37:36 +0000
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