In this episode of PennyWise, host Nat Cardona delves into the important topic of protecting yourself from scams by third-party sellers. Joined by NerdWallet financial expert Kim Palmer, they discuss the various ways consumers can safeguard themselves when making purchases from third-party sellers on popular marketplaces like Amazon and Walmart.
These scams often involve enticing buyers with incredibly low prices, only for the purchased items to never show up, arrive as something completely 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 receive practical advice on spotting and avoiding scams. Kim suggests that it is essential to research the seller before making a purchase, which includes looking into the seller’s sales history and reading reviews from other buyers. Warning signs such as limited sales history or negative reviews should serve as a red flag for consumers.
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The conversation also addresses the importance of understanding retailer policies. Major platforms like Amazon and Walmart often indicate whether an item is sold by them directly or by a third-party seller. This information can help consumers gauge the level of support and recourse available in case of an issue with their purchase.
Another crucial piece of advice is to always use a credit card when shopping online. Credit cards provide built-in fraud protection, making it easier to dispute charges and recover funds in case of a scam. Nat and Kim emphasize the importance of regularly monitoring credit card statements and bank reports to quickly detect and address any fraudulent activity.
Don’t miss this episode of PennyWise for expert guidance on safeguarding your online shopping experiences and avoiding falling prey to scams by third-party sellers.
