PSA: Don't swipe recklessly for others

[Chaikel]

Over the past few months many stories have come to my attention of people swiping for companies or people, and getting scammed to the tune of $100k+ each.

I'm not saying you can't offer to put something on your credit card for someone, but be smart. Even the most honest trustworthy people can hit a rough patch and be unable to pay back.

The specific stories I've been told were of out right scammers. Some had a great reputation, and were part of a community.

Bottom line - At the very least, consider swiping for someone an investment with risk. Don't put down more money than you can afford to lose. Even million dollar companies go under. Ask yourself, are you really willing to risk $20-50k and up for a few points?

If you believe you can trust someone, you should still have a hard limit in the range you can afford to lose, and don't go over it. The guy has truckloads of cash? Then let him prepay you, or put the money in escrow.

This is a very serious matter. Lives have been ruined. You've been warned.

Please don't PM for details. They won't be answered

[ushdadude]

So you mean i should ignore the sign in shul advertising a company that will apply for an AMEX plat on behalf of the shul and do all spending?

[churnbabychurn]

Its very simple, when you swipe for a business you are lending money to a business, not an individual. There is a darn good reason why that business needs your credit card for cash flow...

[Super Speed]

So you mean i should ignore the sign in shul advertising a company that will apply for an AMEX plat on behalf of the shul and do all spending?

You should ignore it for other reasons!

[Myccrabbi]

Over the past few months many stories have come to my attention of people swiping for companies or people, and getting scammed to the tune of $100k+ each.

I'm not saying you can't offer to put something on your credit card for someone, but be smart. Even the most honest trustworthy people can hit a rough patch and be unable to pay back.

The specific stories I've been told were of out right scammers. Some had a great reputation, and were part of a community.

Bottom line - At the very least, consider swiping for someone an investment with risk. Don't put down more money than you can afford to lose. Even million dollar companies go under. Ask yourself, are you really willing to risk $20-50k and up for a few points?

If you believe you can trust someone, you should still have a hard limit in the range you can afford to lose, and don't go over it. The guy has truckloads of cash? Then let him prepay you, or put the money in escrow.

This is a very serious matter. Lives have been ruined. You've been warned.

Please don't PM for details. They won't be answered

very upsetting to hear:(
But so true!
I have a friend who got scammed by a friend of his into funding a summer camp with his card, after summer keeps telling him another day, another day.....
Don't think he ever saw the money yet,and he claims it was a "good" friend.

[raphy781]

Terrible when it happens with siblings/other family members.

[daganster]

Once people are scammed they are usually ashamed, so they keep it to themselves and don't tell others. This may explain why there aren't so many stories surfacing. Bottom line the more it's discussed the more we can prevent future scams.

[menachem_m]

If you do it on a business cc, can't that "business" just declare bankruptcy? It will still go on your personal credit report, but will you as an individual have to file as well?

[daganster]

If you do it on a business cc, can't that "business" just declare bankruptcy? It will still go on your personal credit report, but will you as an individual have to file as well?

Regardless I don't think anyone wants to hire a bankruptcy lawyer.

[churnbabychurn]

If you do it on a business cc, can't that "business" just declare bankruptcy? It will still go on your personal credit report, but will you as an individual have to file as well?

The business is most probably not a legal entity.

[txtmax4]

Once people are scammed they are usually ashamed, so they keep it to themselves and don't tell others. This may explain why there aren't so many stories surfacing. Bottom line the more it's discussed the more we can prevent future scams.

Much like people who were molested as a child, nebach.
But, lately there's been a movement/website to expose predators and victims have come out with their stories, and I have no doubt it's helping minimize these stories.

I firmly believe there should be such a site put up for the wide community, the public should be warned to stay away from those individuals and these people should be put to shame for their actions.

[Myccrabbi]

Much like people who were molested as a child, nebach.
But, lately there's been a movement/website to expose predators and victims have come out with their stories, and I have no doubt it's helping minimize these stories.

I firmly believe there should be such a site put up for the wide community, the public should be warned to stay away from those individuals and these people should be put to shame for their actions.

I think @mesh spoke up about this in past threads.

[menachem_m]

Not everyone does it on purpose...

[txtmax4]

I think @mesh spoke up about this in past threads.

Link?

[Myccrabbi]

Link?

don't have but if I remember correctly it was in the stopover thread.

[HP58]

So you mean i should ignore the sign in shul advertising a company that will apply for an AMEX plat on behalf of the shul and do all spending?

Was wondering, are there really suckers willing to leave their financial future in the hands of a total stranger for $5000?!

[Myccrabbi]

Link?

here I found it:
http://forums.dansdeals.com/index.php?topic=33259.0

[Super Speed]

here I found it:
http://forums.dansdeals.com/index.php?topic=33259.0

[txtmax4]

here I found it:
http://forums.dansdeals.com/index.php?topic=33259.0

Nice humor, now let's get to business on this thread.
Thanks for the milsa dibdichusa.

[Myccrabbi]

Nice humor, now let's get to business on this thread.
Thanks for the milsa dibdichusa.

the business on this thread was about credit card lending fraud not about molestation, so, back to business...
IMO people should not give out their cards freely, however with proper research trust and small trial then it's ok.