Business Insider/Hannibal Solano The Virginias in question are the Visa Signature Card.
The cards offer a simple one-time payment of $50, which is a great deal compared to the annual fees of $5,000 for Visa Signature.
However, that’s just a small portion of what a scamster could be looking for.
According to the Consumer Financial Protection Bureau (CFPB), a single fraudulent purchase could amount to as much as $4,000 per cardholder.
That means a single cardholder could be the target of more than $4.2 million in fraudulent charges.
The CFPB reports that Visa Signature cards can be targeted by fraudsters who may use multiple accounts to make multiple purchases.
That could include cards in multiple states and with different expiration dates.
In this case, a single fraudster could take advantage of the Visa signature card’s easy access to merchants to make hundreds of purchases per month.
The scam could also be targeted at consumers who use Visa Signature to pay for travel, including to destinations that have not yet been disclosed.
Traveling overseas could be one of the most common ways for fraudsters to make money.
If you’re traveling overseas, you’re probably getting a free ticket or a discounted rate on flights and hotels.
For instance, a Virginian who’s buying a ticket on their card may not even realize they’re being charged for a flight they didn’t request.
The fraudster would then get a refund for their money.
In the case of Virginias, the fraudster may simply be trying to make a quick buck.
They may be charging to change their credit card information, or they may simply have purchased a card for themselves or another person.
For example, a fraudster might use the card to buy a hotel room in a different city and then make another purchase in the same city, then resell the room for a higher price, which could cost a little more.
The best way to protect yourself and your money is to limit the amount of time you spend with your credit card, as well as make sure you’re not using your card frequently, the CFPBS says.
If the card issuer tells you your credit limit is overage, make sure to pay your credit cards regularly to avoid further charges.
And, if your card is flagged as high risk, it’s important to review your accounts and see if you’re eligible to get an emergency or short-term credit card extension.