Credit Card Skimmers
I was filling up at a gas station today.
This line of gas stations had been a victim of credit card skimmers before.
People will break into the outside credit card machines and they will put a machine, called a skimmer, over the gas stations credit card machine. When you enter your credit card to pay for gas, the skimmer takes your information and sends it to the home location (usually in another country).
Because of this, this gas station had tape over the credit card machine to show if it had been tampered with.
In this case, the tape was broken. I was not too worried, as I know my bank has good fraud protection.
I reported the broken tape ASAP to the gas station. I will also been keeping a close eye on my bank account.
The crooks will take your credit card number they get from the skimmers, and sell it to other crooks. These crooks will print new credit cards with this information and sell the hot cards.
Someone will buy the hot cards, and run to places like King Soopers (which is a supermarket), or Best Buy, and buy as many gift cards as they can.
Usually this type of fraud will be covered by your credit card company.
If this happens to you, you will be very glad if your bank has good customer service. This is when having a bank with good customer service can mean the difference between spending 10 minutes solving this problem, or days of trying to get someone on the phone who will actually help you.
Credit Card Fees
Small businesses are getting fed up with credit card fees. Small businesses have to pay transaction, as well as monthly fees to accept credit cards.
If you use your credit card as debit the business gets charged a smaller fee, and if you use the credit card as credit the business gets charged a larger fee.
Some businesses have stopped accepting credit card payments, because the fees are not worth the lost business.