‘Tis the Season . . . Beating the Cost of Textbooks, even if Illegal!

It came as no surprise to learn that the cost of textbook prices has tripled between 1986 and 2004, with the average student spending approximately $1,000 a year on books, as indicated this past week in The Detroit News.

It did, however, come as a shock to learn that our business credit card had been hacked this week, with greater than 20 fraudulent on-line text book purchases, all for hundreds of dollars,  made within minutes.  Thank goodness one of the on-line textbook vendors was on their toes to alert us of their suspicion, or the 20 purchases all with different vendors at that, could have doubled or tripled.

Let’s hope the bank, which has opened a fraudulent investigation, will be able to catch the criminal(s) so they can quickly learn that the cost of prosecution is far greater than the cost of books.

In today’s electronic world, where the percentage of on-line purchases keeps increasing, here are some cautionary reminders to protect your credit cards.

–          Don’t be offended if a vendor or clerk asks for your security code.  If fact if they don’t, ask them why not.

–          Don’t let your card out of your sight.  All too often we freely give our cards to wait staff, store clerks, etc. whereby they often take the card away to process.  If it is not possible to physically see your card at all times, reconsider paying cash.

–          Make sure any on-line vendors you make a transaction with are legit and that they have all of the security measures in place to protect your card number.

–          Report any suspicious activity on your card, immediately!  The sooner the bank is notified, the greater chance they have to catch the criminal(s) and minimally prevent further damage.

Perhaps you have additional ideas . . . please let us know as we surely could all benefit!

Written by Janice Krupic, President & CEO of Paragon Leadership International

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