A security breach of historic magnitude may have exposed your credit card information. Millions and millions of confidential files have been compromised:
This could be historic. The dubious distinction is that this might be the largest security breach ever noted. There may be in excess of 100 million personal files compromised:
As students return to university and college campuses, there are many offers and displays set up for the initial few weeks. These range from offers for food services to bargains on mass transit. One certain theme will be offers of credit cards. Just for filling in the simple credit card application, there might be a free t-shirt or free baseball cap or something equally enticing.
Don’t do it.
It is far safer to apply for credit cards through the financial institutions. The security is far better. There simply is far too much exposure of confidential information when using these campus offers. Remember that a student’s confidential information is a prime target for identity theft. A student usually has not built up an extensive debt history yet and likely has a clear criminal history. All that is necessary for identity theft is name and social security number. If the birth date is included, that is even better.
The educational institution may approve of these displays. However, the school has no control over who works at these displays and how the personal data are secured. It is just far safer to pass on such return-to-school offers. A free t-shirt (or whatever the offer is) simply is not worth the risk.
Catherine Forsythe
The case involves the U.S. Secret Service and Department of Justice. It is a staggering example of identity theft that crosses many international boundaries:
“The US authorities have charged 11 people in connection with the theft of credit-card details in the country’s largest-ever identity theft case.
They are accused of stealing more than 40m credit and debit card numbers before selling the information.”
link: US cracks ‘biggest ID fraud case’
It is sophisticated hacking that occurred at a variety of venues. It makes one wonder what criminal activity is ongoing and remains to be uncovered.
Remember that it is possible to be pro-active and to monitor your credit. Free credit reports are available. It has become imperative to monitor one credit history. It seems that even a casual retail purchase makes one a possible victim.
Catherine Forsythe
With the price of gas, every cent counts. It is not unusual for drivers to stop and fill up the car or truck if they happen to find a station that sells gas for a few cents less. However, that bargain price may vanish quickly if you are paying for the gas purchase with a credit card:
“…The card giant Visa, for instance, typically charges a 2 percent fee for each credit card transaction to the station owner. If the price of a gallon of gas is $4.11, that translates to about 8 cents a gallon, which is then passed on to the consumer who pays with a credit card.”
link: Credit Card Fees Up Gas Prices
The price that is advertised outside may not be what you are paying with the credit card. Many customers are finding that they are paying for the transaction fee that is charged to the business.
Check the credit card receipt the next time you are buying gas. You may find that that bargain price for fuel comes with a sneaky charge added to the bill.
Catherine Forsythe
