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‘Tis the season for shopping! Retailers big and small are enticing customers with the year’s best deals. Like millions of other people, you may like to spread your shopping dollars across both brick-and-mortar stores as well as online retailers—or perhaps, you shop 100% online!
Whatever your shopping habits, following these tips will help you focus on holiday fun rather than legal disputes with retailers or losing money to scammers.
- Set a budget. Understand your finances before going to the store or shopping online. It’s easy to throw your budget out the window when confronted by the newest gadget or a great sale,
but overspending now will cause headaches later. - Beware of retail credit cards or quick loan offers you can’t afford. Many lenders use the holiday cash crunch to attract borrowers. Don’t sign up for new credit
cards or loans without carefully reviewing rates and terms. - Avoid sweet deals. Beware of pricing that’s too good to be true. Check reviews on greatly discounted items to make sure they don’t have major problems. (A $250 TV might not seem
like such a good deal if it does not make it past next year!) - Check return policies. Before making a purchase, read and save a dated copy of the retailer’s return policy. Many sales disputes stem from misunderstandings over return or refund policies.
- Ensure proper warranties. Do your homework on extended warranties. Many products already come with a manufacturer’s warranty. In addition your credit card company may already offer protection, so this extra expenditure is unnecessary.
- Monitor your accounts. Check your bank account and credit card statements frequently.
Incorrect or fraudulent charges are easier to miss with increased holiday expenditures. Contact those institutions immediately if you notice any irregularities. - Verify web addresses. When shopping online, use trusted retailers. It is important to make sure
you are on the correct website by checking the domain name in the browser; don’t click on fishy-looking URLs or emails coming from an unfamiliar source. - Read reviews. Review marketplace seller ratings and negative feedback from previous buyers.
Exercise caution when dealing with sellers who have an excess of poor feedback. - Protect your privacy. Keep payment information secure. Never pay for items purchased online with wire transfers, money orders, or cash. These types of payment offer no tracking or protection in the event of a scam.
When online shopping scams start to seem overwhelming, remember this: U.S. lawmakers are learning how important it is to protect consumers. To understand your state’s laws and regulations, talk to your provider lawyer.
If do not have LegalShield, please consider enrolling at your next opportunity.