Monday, February 6, 2023

Donating to Act Blue? Watch out!

I don't get into political things too often here, but, if you donate to MedicareforAll or, you'll want to read this carefully. Or, if you know any died-in-the-wool Democrats who might donate to them, pass this along to them.

Recently, I helped a friend resolve some tricky financial problems. When I reviewed her credit card statements, I noticed some (many) transactions involving Medicareforall and

She explained that she had made occasional, small, one-time donations. 

I asked, "So what are all these?

We called her credit card company, and there were 144 transactions for over $1,300, many on the same day, two for $125, and one for $250. Her credit card company reversed all of them.

She will be writing to ActBlue's new CEO/President, Regina Wallace-Jones, and sending copies to the FBI, SLED, and the Attorneys General in South Carolina, Massachusetts (ActBlue's headquarters), and New York.

If you know anyone who might have donated, urge them to review their credit card statements very carefully for the past six months (or more). 

And review your statements as you prepare to make your payment. Often, there is a limited period for challenging fraudulent transactions.

I have long said there is a real danger in receiving only e-Statements from credit card companies. Customers often just look at the minimum-payment due and don't inspect the transactions. 

If you don't pay off your balance in full every month, check the interest rate (buried at about Page 4 of your statement) and understand what that little "(v)" means. That 29.99% interest rate on your balance is PLUS Prime Rate, so you are actually paying over 37% interest.