In our fast-paced world, gift cards have become a go-to choice for convenient gift giving. These little treasures have also caught the eye of sneaky scammers on the hunt for an easy payday. The good news is, with a few simple steps, you can protect your assets. Here are 5 practical steps that will help you outsmart gift card scams and learn what to do if you ever find yourself caught in their web.
5 tips to avoid gift card scams
Tip #1: Question anyone who asks you to pay them with gift cards. No legitimate company will demand that you pay them with a gift card. According to the Federal Trade Commission (FTC), “Gift cards are for gifts, not for payments. Anyone who demands payment by gift card is always a scammer.” Some of the most common scam ruses include the caller claiming they’re from the government, tech support, or that they’re calling about an emergency.
Tip #2: These days, gift card choices are everywhere. Whether you’re at the grocery store, a big retailer, or in a mall, you can choose from so many options. But before you buiy that gift card, inspect it carefully. One trick scammers use is to steal a stack of gift cards, alter them, and then return them to a store. Check out this video from station WRDW in which they describe the process. Avoid the scam by making sure that no stickers have been tampered with and that PIN numbers on the back of the card aren’t exposed.
Tip #3: Do not succumb to pressure. Scammers often create a sense of urgency to prevent you from verifying their claims. Always take a step back, evaluate the situation calmly and make informed decisions.
Tip #4: Ensure you verify the source of any request for payment, especially if it comes to you as a surprise. If someone claims to be from a company or government agency, disconnect the call and dial the number listed on the official website to confirm the request is legitimate.
Tip #5: Guard your personal information fiercely. Refrain from sharing personal or financial information unless you’ve initiated contact and it’s necessary for the transaction. If someone contacts you to request your personal information, be very suspicious.
What to do if you fall victim
If you become a victim of a gift card scam, please report it immediately to your local law enforcement. Also, contact the company that issued the gift card using the provided website or phone number to ensure appropriate action is taken. The FTC also has a comprehensive listing of the most common gift card companies, including their phone numbers and websites. Also, report the scam to the FTC at www.reportfraud.ftc.gov.
With these simple yet effective strategies, you can protect yourself against gift card scams and shop with peace of mind. Knowledge is your best defense against scams, so stay informed and vigilant. Did you miss last month’s scam tip? Use this link to go there now or view all my scam tips here
