News & Alerts
SIMPLY MORE
September/October 2011
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Be Aware of Card Skimming Devices on ATM Machines
We want you to be aware of a type of fraud that is occurring with increasing frequency. Criminals are placing “skimming” devices on the card reader of ATMs. These gadgets are designed to capture, record and remotely transmit your PIN and other information stored on the magnetic stripe of your debit card.
ATM card skimming takes place coast to coast and is approaching a billion-dollar issue worldwide. In fact, several people in our communities have been victim to card skimming when using ATMs located outside of the area.
So how do you protect yourself against a card skimmer?
- First, inspect the ATM machine closely for anything that appears out of the ordinary. Determine if anything looks loose or unevenly attached. Generally, if something is protruding from the face of the ATM where you insert your card, it is probably a skimming device.
- Question anything that looks unusual. If your card gets stuck in the machine or you notice anything odd about the appearance of the machine— such as wires, double sided tape, error messages, or if the machine seems unusually old and run down—don’t use it. Instead, look for another ATM.
- Try to use an ATM at a bank whenever possible. Because of increased use of surveillance cameras, bank ATMs are considered safer than free-standing ATMs or those in convenience stores.
- Get in the habit of always shielding your PIN. Scammers have a difficult time turning your 16 digit account numbers into cash without the PIN. Cover the keypad as you enter your PIN. If you use your debit card at a merchant point-of-sale, select the credit option so you don’t have to enter your PIN.
Banks are exploring new technologies, such as internal hardware, that can jam the signal of skimming devices. Major security companies including ADT are also developing anti-skimming solutions. But, you need to be aware of the problem and keep an eye out for devices affixed to the front of ATMs as well as cameras mounted near small mirrors or on brochure holders.
Overall, the best thing you can do is be aware that card skimming is increasing in frequency and take the measures described above to shield yourself from theft
Credit Risks and Rewards
When it comes to credit card offers, you need to know a few things before accepting.
Sure, it is tempting to take advantage of credit card offers that sport promotions like 0 percent interest rates, instant approvals and balance transfers. However, others can saddle you with high interest rates and hefty annual fees long after the initial teaser rate expires.
That’s why it’s important to understand and evaluate each offer before signing and returning that pre-approved application form. Here are some recommendations for finding the credit card that offers the most value for you:
Analyze your needs. Rewards points, frequent flier miles and cash back on your purchases are all attractive features, but unless you’re a road warrior or a shopaholic, the benefits might not outweigh the costs. If you consistently carry a card balance, getting a rewards card will end up costing you more in finance charges and will negate any benefit that you can earn in in rewards.
Compare offers before you apply. Be choosy before you respond because too many credit card inquiries all at once can negatively affect your credit score. Compare five to ten offers in a particular category (i.e. frequent flier miles) before deciding. The same goes for interest rates and annual fees.
Search for hidden features and benefits. Little-known features and benefits can pay big dividends if you know what to look for. Certain cards, for example, offer manufacturers’ warranties, travel accident insurance, travel-related discounts and automobile rental insurance.
Understand how credit card companies work. By offering you balance transfer cards and 0 percent interest rates, card issuers are betting that you won’t pay off your balance before the promotion expires. Any remaining debt can start racking up annual interest charges of 15 percent or more.
So the next time you’re tempted to take advantage of a credit card offer that arrives in the mail, utilize the tools and resources at your disposal to make an educated, rewarding decision.
Time to Check Your Rewards Balance?
Points do expire so check your balance today. Check your Rewards points balance or redeem points. Or, call 866-678-5189 anytime 24/7.
Stay Informed and Safe
With new scams appearing every day, protecting your personal information from attack is becoming more challenging. That’s why we’ve designed a News and Alerts Program to help.
Our FREE News & Alerts Program offers you:
- Immediate e-mail alerts whenever scams target people in the area
- Notification when federal policy changes impact your account
- Bi-monthly Fraud Alerts & Safety Tips e-newsletter
- Bi-monthly Simply More financial e-newsletter
- Entry into our quarterly drawing for one of five, $50 VISA gift cards
Sign up today! Simply send us an email request, call us or stop by any of our locations. You only need to provide us your name and email address to enroll.
The Smart Option Student Loan
Smart money to help pay for college.
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Looking for a way to bridge the gap between your college expenses and available loans? The Peoples Community Bank Smart Option Student Loan by Sallie Mae is designed to give students and parents the money needed to pay for school, as well as flexible repayment options, which can help you save on interest and keep your payments affordable.
The Smart Option Student Loan helps students and parents save money, pay off their student loan faster and develop strong credit. For more information or to apply, please visit our Smart Option Student Loan website.
