In this episode of PennyWise, host Nat Cardona delves into the important topic of protecting oneself from third-party seller scams. Alongside NerdWallet financial expert Kim Palmer, they discuss the various ways consumers can safeguard themselves while shopping from third-party sellers on major marketplaces like Amazon and Walmart.
These scams often involve enticing buyers with extremely low prices, only for the purchased items to never arrive, arrive as something entirely different, or even come with fake tracking numbers. Nat and Kim highlight the need for vigilance and the risks associated with these deceitful practices.
Listeners will gain practical tips for recognizing and avoiding scams. Kim stresses the importance of researching the seller before making a purchase, which includes checking the seller’s sales history and reading reviews from other buyers. Warning signs such as limited sales history or negative reviews should prompt consumers to seek alternatives.
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The conversation also emphasizes the importance of understanding retailer policies. Major platforms like Amazon and Walmart typically indicate whether an item is sold directly by them or by a third-party seller. This information can assist consumers in understanding the level of support and recourse available if issues arise with their purchase.
Another crucial piece of advice is to always use a credit card when shopping online. Credit cards offer built-in fraud protection, making it easier to dispute charges and recover funds in case of a scam. Nat and Kim underscore the significance of regularly monitoring credit card statements and banking reports to promptly identify and address any fraudulent activity.
Tune in to this episode of PennyWise for expert guidance on safeguarding your online shopping experiences and preventing you from falling prey to third-party seller scams.
