15 financial scams you should know

7) Credit card fraud

Fraudsters will call with promises to repair their credit ratings, provide credit options or credit facilities, credit cards with zero or very low interest, or instant and unlimited loans without credit checks or security. Such offers, if followed up, tend to come at a considerable cost to victims in terms of high interest rates or exorbitant fees.

It is common for scammers to target people who have bad credit and are therefore more susceptible to take the offer in hopes to pay off debts or increasing their credit rating.

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