Black Friday and Cyber Monday are the ultimate playgrounds for deal hunters. But while the discounts can be thrilling, the scams lurking behind them are anything but fun. Keep your wallet safe by watching out for these five scams during the holiday shopping season:
1. Deals that are too good to be true
A brand-new iPhone for $12? Designer boots for $9? Sounds amazing—but it's a trap. Scammers love to lure shoppers with jaw-dropping prices, then steal credit card information for their own shopping spree.
Be smarter: If a deal seems ridiculously low, it probably is. Stick to reputable retailers and double-check prices.
2. Discounted gift cards
Before Black Friday, you might spot gift cards sold for a fraction of their face value online. Often, these are stolen or fraudulent. By the time you try to use one, it could be deactivated, leaving you out in the cold.
Be smarter: Avoid buying super-cheap gift cards from unknown sellers.
3. Bait-and-switch schemes
Online sweepstakes promising the latest tech in exchange for your personal info? Classic bait-and-switch. Offline, it can look like a store advertising jaw-dropping deals that "just happen" to be sold out when you arrive.
Be smarter: Never enter sweepstakes or trust unfamiliar ads for heavily discounted products.
4. Fake delivery alerts
Emails claiming a problem with your delivery and asking you to click a link or download an attachment are likely phishing scams.
Be smarter: Contact the seller directly if you're worried about a delivery. Never click suspicious links or download unknown files.
5. Risky payment methods
Scammers often request payment via wire transfer or money orders. Once your money is gone, it's nearly impossible to recover. Credit cards offer far better protection, and debit cards can work if you stick to trusted retailers.
Be smarter: Use a credit card for new-to-you stores and websites that appear to be legitimate. If you're not quite sure, take a moment and ask a trusted family member or friend or do your own research. Your wallet, and sanity, will thank you.