16 Apr 2017

ignorance or stupidity?

Every so often, I encounter some article that makes me wonder about whether people are just stupid, or deliberately ignorant. Take this person:

Beware debit card skimming

Card skimming has been around at least 2 decades, if not more. We were warned about this way back in the 1990’s in Trinidad and Tobago. So for this person to profess such ignorance makes me ask myself, under which rock had he been sleeping? The alternative is sheer stupidity. Same with people who, decades after the scam was exposed, still get taken in by 419 scammers.

Some basic precautions :

  1. Use a credit, not debit, card for online purchases. Credit cards usually have more protection. And debit card accounts usually have your savings which are at risk. If a scammer gets hold of your credit card details, then the most they can get is up to the limit of the card, not your entire savings.
  2. Use a card with a low enough limit to prevent undue liability in case something goes wrong. A card limit of £500 (TT$5000) can usually cover any purchase necessary for everyday expenses.
  3. Repay the card when you receive your salary, or as much as possible, to reduce interest payments. Most cards give about 56 days before interest is imposed.

A fool and his money….