As students head back to class this fall, scammers are also preparing to take advantage of a new group of victims. The best way to avoid scammers is to be diligent about how and where you spend your money. Whether you’re starting school away from home or have younger students who can also fall prey to fraudsters, be aware of some of the most common scams targeted at today’s students. Here are some scam alerts for today’s students.
Fake credit cards—Scammers have recognized the appeal that a new credit card can have for students who are facing unfamiliar circumstances like having to buy meals or school supplies. Too-good-to-be-true offers are tempting to young students, but responding to these offers can have devastating results such as unauthorized charges and identity theft. Be sure to research any offers from credit card companies and banking institutions to make sure they are credible. Banks like First Keystone Community Bank will steer you in the right direction with scam alerts for today’s students and a legitimate credit or debit card. They may even offer special products for students looking to start learning healthy financial habits now.
Ideal apartments—Everyone wants that perfect apartment in that perfect location to start the school year off in the right direction. Never provide any type of down payment via credit card or money transfer without first visiting the apartment. This scam is particularly prevalent on social media and Craigslist and can include false offers from other students looking for a roommate.
ID theft—Scammers can steal an identity in a multitude of ways often without the victim ever realizing they were targeted. Whether you’re a first-time credit card user or have multiple cards, regularly checking your credit report for unusual activity can mean the difference between preventing a disaster or falling victim.
Scholarship scams—This type of scam can affect college students long after graduation. Be wary of phone calls, texts, or emails from companies guaranteeing lower student loan payments. Research the company online for scam alerts or negative reviews. Contact your school’s financial aid office for financial advice and guidance.
Online shopping scams—Ads for great online deals are everywhere, tempting consumers of all ages with great prices and special discounts. Scammers prey on these online consumers by creating fake websites and products at too-good-to-be-true prices. Students sporting first-time credit cards can be vulnerable to these scams so it’s important to know the seller, read the fine print, protect your personal information, and always think before you click.
Awareness of current scams is always key to avoid falling prey to fraudsters. Even tech-savvy students can become victims without realizing it until it’s too late. Partnering with legitimate financial institutions like First Keystone Community Bank can help bolster security and introduce safe, reliable products like the Keystone First Checking Account for youth ages 13-17. For more information on avoiding scams and receiving scam alerts for today’s students heading back to class, call First Keystone at 570-752-3671.
