Don’t be a Victim of Credit Card Insurance Fraud

Credit card insurance fraud and credit card protection fraud are real problems that many consumers face in Iowa and throughout the nation. Most companies or individuals that participate in these misleading business practices are telemarketers conducting cold calls to offer people credit card protection packages. Generally, these individuals prey on the elderly by scaring them or giving them misleading information.

These companies trick people into confirming their credit card numbers, and then end up charging a fee from $99 to $399. Unfortunately, the fact is that people generally receive nothing in return for this money, or else they might receive some paperwork, stickers, and a folder full of brochures and useless information. People should know that federal law provides this type of protection at no charge for credit card holders.

Things to beware of if you receive a telephone call from fraudulent credit card protection companies or credit card insurance companies include:

  • They may pretend to be a representative or affiliate from your credit card company to gain your trust.

  • They may offer credit card insurance.

  • They may offer a credit card protection package.

  • They may offer credit card loss protection insurance.

  • They might use scare tactics to prey on your fears.

  • They will ask you to verify your credit card information.

  • They may say they are calling to check your credit card for fraudulent activity.

These companies have their telemarketers follow phone scripts to sound professional. They look for ways to build trust with you. Do not become a victim of credit card insurance fraud or credit card protection fraud. If you want any of these services, then contact the phone number on the back of your credit card and speak directly with your card issuer.

If you have been a victim of credit card insurance fraud in Iowa, then contact the experienced consumer fraud attorneys at the law office of Brady Preston Gronlund. You will be able to find out if you have a legal case and what your next steps should be. Speak with a knowledgeable Cedar Rapids consumer fraud attorney today at (319) 866-9277.