In this episode of PennyWise, host Nat Cardona delves into the important topic of protecting yourself from third-party seller scams. Joined by NerdWallet financial expert Kim Palmer, they discuss the different ways consumers can safeguard themselves when buying from third-party sellers on popular marketplaces like Amazon and Walmart.
These scams often prey on customers by offering very low prices to attract buyers, only for the products to never arrive, arrive as something entirely different, or come with fake tracking numbers. Nat and Kim stress the need for caution and highlight the risks associated with these deceptive tactics.
Listeners will gain valuable tips on recognizing and avoiding scams. Kim advises on the importance of researching the seller before making a purchase, which includes checking the seller’s sales history and reading reviews from other buyers. Signs like limited sales history or negative reviews should signal consumers to seek alternatives.
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The discussion also emphasizes the importance of understanding retailer policies. Major platforms like Amazon and Walmart often specify whether an item is sold directly by them or by a third-party seller. This knowledge can help consumers determine the level of support and recourse available in case of any issues with their purchase.
Another crucial tip is to always use a credit card when shopping online. Credit cards provide fraud protection, making it easier to dispute charges and recover funds in case of a scam. Nat and Kim underscore the importance of regularly monitoring credit card statements and bank reports to promptly identify and address any fraudulent activities.
Tune in to this episode of PennyWise for expert guidance on safeguarding your online shopping experiences and avoiding falling victim to third-party seller scams.
