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Southern Colorado Insurance Center Blog

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Credit Card theft has become even more complicated

New way of STEALING...


Be sure to read Scene 3. Quite interesting.

This is a new one. People sure stay busy

> Trying to cheat us, don't they?

A friend went to the local gym and placed his belongings in the locker.
After the workout and a shower, he came out, saw the locker open,
and thought to himself,

> 'Funny, I thought I locked the locker...

> Hmm, 'He dressed and just flipped the wallet
make sure all was in order.

> Everything looked okay - all cards were in place...

> A few weeks later his credit card bill came - a whooping bill of $14,000!

> He called the credit card company and started
yelling at them, saying that he did

> not make the transactions.

> Customer care personnel verified that there was no mistake in the system
asked if his card had been stolen...

'No,' he said, but then took out his wallet, pulled
out the credit card, and yep -

> you guessed it - a switch had been made.

> An expired similar credit card from the same
bank was in the wallet.

> The thief broke into his locker at the gym
switched cards.

> Verdict: The credit card issuer said since he
did not report the card missing

> earlier, he would have to pay the amount owed to them.

> How much did he have to pay for items he did not buy?

> $9,000! Why were there no calls made to verify the amount swiped?

> Small amounts rarely trigger a 'warning bell' with some credit card companies.
It just so happens that all the small amounts added up to a big one!


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