At Ingersoll Rand Federal Credit Union, we believe everyone deserves to age with dignity, security, and peace of mind. On Elder Abuse Awareness Day, we stand with our community to raise awareness about the growing and often silent crisis of elder abuse—especially financial abuse, which can have devastating consequences on older adults’ independence and wellbeing.

What Is Financial Elder Abuse?
Financial elder abuse occurs when someone illegally or improperly uses an older adult’s money, property, or assets. This can take many forms, including:

• A trusted friend, caregiver, or even a family member stealing or coercing access to bank accounts.
• Scammers posing as government officials or romantic interests.
• Unauthorized use of debit or credit cards.
• Being pressured into changing a will, deed, or power of attorney.

Sadly, financial abuse often goes unreported—whether due to embarrassment, fear, or confusion—and can drain retirement savings and erode trust.

How to Spot the Warning Signs
If you notice any of the following, it could be a red flag:

• Unusual or sudden changes in financial activity.
• Frequent or unexplained withdrawals or transfers.
• A new person “helping” manage finances, especially if they discourage the individual from speaking with others.
• Unpaid bills or shut-off notices, despite adequate resources.
• Anxiety or confusion when discussing money or bank accounts.
  
  

What You Can Do
If you suspect someone is being financially exploited, don’t ignore your concerns. Here are steps you can take:

1. Speak Up – Gently talk to the individual if you feel comfortable and express your concern.
2. Report It – Contact local Adult Protective Services or law enforcement.
3. Encourage Safe Banking Habits – Suggest they speak with their trusted financial institution.
   
   

How IRFCU Can Help Protect Our Members
At IRFCU, we’re committed to protecting all members—especially our seniors—from fraud and financial exploitation. We offer tools and support to help guard against abuse:

• Account Alerts & Monitoring – Members can set up customized alerts through our online and mobile banking to be notified of any unusual activity.
• Card Controls in Our Mobile App – Instantly lock/unlock your debit card, set spending limits, and receive transaction notifications.
• Free Financial Counseling – Our team is available for confidential financial reviews to help spot irregularities and offer guidance.
  
  

Let’s Stand Together
Elder abuse, especially financial exploitation, is not just a personal tragedy—it’s a community issue. By staying informed, staying vigilant, and standing up for those who may not be able to stand up for themselves, we can protect the people who built and shaped our communities.

If you or someone you know needs help, contact IRFCU today. Our team is ready to assist with care, confidentiality, and compassion.
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Your money. Your trust. Your Credit Union.

As nonprofit institutions, credit unions have long enjoyed tax-exempt status. This enables them to pass on the savings to their members through higher dividends and lower interest rates on loans. This member-first approach is the reason more than 140 million Americans choose credit unions.

However, the new administration and Congress are moving fast on tax reform, and this can mean adding a new tax on credit unions and their members. Let’s take a look at what this means and steps you can take to prevent it from happening.

The political conversation
Several states and federal legislators are reviewing all policies that affect financial cooperatives. Proponents of these changes argue that all financial institutions should contribute equally to state and federal revenues, while opponents maintain that credit unions provide essential community benefits that would be jeopardized by new taxes. This debate is fueled by larger conversations about fiscal policy, the role of cooperatives in the economy and how best to support local communities in times of economic uncertainty.

How credit union tax status may change
Currently, the tax-exempt status of credit unions is based on their nonprofit, member-focused structure. However, in today’s shifting political landscape, some lawmakers and financial institutions have questioned whether credit unions should continue to benefit from this exemption. This can impact credit unions and their members in a big way. Potential changes might include:

• Reclassification as taxable entities. If the changes take place, credit unions could be subject to corporate income tax, which would significantly alter their financial structure and operations.
• Additional fees and assessments. Instead of a full tax, some proposals suggest imposing special assessments or fees on credit unions to “help level the playing field” with commercial banks.
• Stricter regulatory oversight. Any move to change the tax status would likely come with increased oversight, which could raise operating costs and reduce the benefits currently being passed on to members.

What you can do about the potential changes
Credit unions need you! 
Every credit union member needs to join this fight. It’s important for federal lawmakers to know that getting rid of the credit union protected federal income tax status would hurt the people they were elected to serve. 
A new tax on credit unions could significantly hurt your financial well-being. You may have to pay fees on checking accounts and pay higher interest rates on loans. In addition, your savings accounts may grow at a slower pace if your credit union needs to lower the offering rates on share/savings products. 

Take action now! Send a message to our state representative and senator today! OR visit Don't Tax My Credit Union and tell congress!
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The sooner we make our voices heard, the better the chance we have of preventing the new legislation from being passed. Do it today!

Taxes can seem daunting, especially when you’re just starting out. Here’s everything about taxes you wish you’d learned in school.

1. Taxes are inevitable
The first thing to know is that taxes are a part of life. Whether you’re earning a paycheck, running a business or investing, you’ll interact with the tax system. The key is to be informed and organized.

2. Your paycheck doesn’t show the whole picture
If you’ve ever wondered why your take-home pay is less than your salary, taxes are the answer. Employers withhold income taxes, Social Security and Medicare from your paycheck. This is called “pay-as-you-go” taxation.
Review your W-4 form when you start a new job or when your financial situation changes. This form determines how much federal income tax your employer withholds. Claiming too many allowances could lead to a big tax bill in April, while too few may mean you’re overpaying.

3. Tax deductions and credits are your friends
One of the most confusing aspects of taxes is the difference between deductions and credits:

• Deductions lower your taxable income, which reduces the amount of tax you owe.
• Credits are even better because they directly reduce the amount of tax you owe.

Learn which deductions and credits you qualify for.

4. Filing isn’t as scary as it seems
Gather all your important documents:

• W-2s from your employer(s)
• 1099s for freelance work or investment income
• Receipts for deductible expenses
• Records of charitable donations

Next, choose a filing method. You can use tax software or hire a professional.

5. Keeping records is crucial
The IRS recommends keeping tax-related documents for three years. This includes:

• Pay stubs
• Bank statements
• Tax returns
• Receipts for deductions

Keep these documents in a safe place for easy access.

6. Understand the difference between a refund and a bill
Getting a tax refund may feel like a bonus, but it means you paid more in taxes than you owed. On the flip side, owing taxes at the end of the year can be stressful. To avoid surprises, adjust your withholding or make estimated tax payments if you’re self-employed.

7. Retirement accounts offer tax advantages
It’s important to know how powerful retirement accounts are for saving on taxes. Contributions to traditional IRAs and 401(k)s are often tax-deductible, reducing your taxable income. Roth IRAs don’t offer an upfront deduction, but your withdrawals in retirement are tax-free.
Taking advantage of these accounts can help you build wealth while lowering your tax burden.

8. State taxes matter, too
Most states have income taxes, and each state has its own rules and rates. Research your state’s tax laws to avoid surprises and plan accordingly.

9. Deadlines are non-negotiable
The IRS tax filing deadline is typically April 15, but it may vary if on a weekend or holiday. Missing this deadline can result in penalties and interest on any taxes owed.
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Use this guide to learn all about taxes.

When it comes to life skills, managing credit cards is one of the most important lessons. But, mastering the ins and outs of responsible credit card management can be the key to a lifetime of financial wellness. On the flipside, irresponsible credit card usage might trigger a downward spiral toward long-term debt and not being able to get larger loans later on. Here are the basic credit card smarts to know.

Understand how credit cards work
A credit card is a short-term loan. So there is an expectation that you’ll pay it back — ideally on time and in full. Many first-time credit card owners don’t realize that paying only the minimum balance can lead to a lot of interest charges, and thus, make every purchase more expensive over time. Know the annual percentage rate (APR) on each of your credit cards and understand how interest accrues for times when you must carry a balance on your card.

Build credit early
Your credit score plays a pivotal role in your financial life. It can impact everything from your ability to rent an apartment to securing a car loan or even landing a job. It’s also super-important to start building your score as early as possible because the length of your credit history makes up a large percentage of your credit score. Paying your bill on time and keeping your credit utilization low are key factors in keeping a healthy credit score.

Use your credit card like a debit card
Credit cards make it easy to spend money you don’t have. As a teenager or college student, the temptation to swipe for meals, new clothes or gadgets is hard to overcome. It’s important to remember, though, that every swipe adds up. Losing track of your spending might bring a balance that’s difficult to pay off. Budgeting and tracking expenses are crucial habits to develop early on to avoid credit card debt.

Never miss a payment
Never miss a credit card payment, even if you can only afford to pay the minimum payment. Missing just one payment can have a bad impact on your credit score, in addition to late fees and penalty interest rates.

Understand rewards and perks
Credit cards often come with rewards programs, cash-back options and perks, like travel insurance or purchase protection. While these benefits can be valuable, they shouldn’t drive your spending. Make sure you weigh the potential costs of using your credit card for purchases before deciding to whip out the plastic.

Avoid credit card traps
Credit card companies don’t always make their terms crystal clear, and that’s no accident. Before signing up for a new credit card, read the fine print. For example, an enticing 0% APR offer might revert to a much higher rate after the promotional period.

Learn about credit utilization and its impact
Credit utilization refers to the ratio of your credit card balance to your credit limit. This percentage significantly impacts your credit score. It’s best to keep your credit utilization (across all your cards) below 30%.
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Use these tips to learn how to manage your credit cards responsibly.

Managing your money doesn’t have to be hard! Here’s how to budget in seven simple steps.


Step 1: Know your income
Before you can plan your spending, identify exactly how much money is coming in. List all sources of income in your household, including:

• Salary after taxes
• Side hustle earnings
• Investment returns
• Any other regular inflows

Be realistic and stick to consistent, reliable income sources when calculating your monthly total.


Step 2: Track your expenses
Now you’re ready to track your spending. Keep a log of every purchase you make over 30 days. Divide your expenses into the following categories:

• Fixed expenses, like rent or mortgage, insurance and car payments.
• Variable expenses, like groceries, dining out and utilities.
• Discretionary spending, like subscriptions, hobbies and shopping sprees.

Step 3: Set financial goals
Having a clear financial goal will motivate you to stick with your spending goals. For example, you may want to pay off high-interest debt, save up for a large purchase or prepare for retirement. Clarify your goals before moving on.
Break your goals into short-term goals (saving $500 in three months) and long-term goals (paying off $20,000 in student loans over five years).


Step 4: Choose a budgeting method
Choose the budgeting method that aligns with your personality and lifestyle:

• Zero-based budgeting. In this traditional form of budgeting, every dollar is assigned a job. If you earn $3,000 monthly, allocate it to cover all expenses, saving and debt repayment until there’s no money unaccounted for.
• 50/30/20 rule. In this plan, you’ll allocate 50% of your income for needs, like housing, food and utilities; 30% for wants, like entertainment, dining out and hobbies; and 20% for savings and debt repayment.
• Envelope system. This plan involves putting cash for each category into labeled envelopes. When the money’s gone, the spending in that category stops.

Step 5: Trim your spending where needed
Budgeting can show you where you’re leaking money. There’s no need to sacrifice all indulgences, but trimming unnecessary expenses can free up money for savings or debt repayment.
Here are some tips for trimming expenses:

• Cook your favorite foods at home instead of dining out.
• Cancel subscriptions you don’t really use.
• Shop smarter with sales, coupons and cash-back apps.
• Choose free or low-cost entertainment.

Step 6: Build an emergency fund
Without an emergency fund, any unexpected expense can throw off your budget and set you back with your financial goals. Aim to save up at least $1,000, then gradually work up to 3-6 months’ worth of living expenses.


Step 7: Review and adjust
Life is unpredictable, and so is your budget. Review it monthly to ensure it reflects your current income, expenses and goals.


Tips for sticking to your budget
Follow these tips to stick to your budget:

• Automate your savings.
• Track progress and celebrate small wins.
• If one method isn’t working, try another.
• Use apps to help you.

Use this guide to get started on budgeting today!

If there’s one financial concept that has the power to change lives, but is underappreciated, it’s compound interest. For most of us, compound interest wasn’t covered in school, leaving us to stumble upon its magic later in life. And it’s sometimes too late for us to fully benefit from its power. Here’s why understanding compound interest early could make all the difference.
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What is compound interest? 
Compound interest is the process of earning interest on both the initial principal of an investment and the accumulated interest over time. In other words, your money makes money, and that money makes more money, too. Compound interest has tremendous potential to grow wealth when applied consistently over time.

An example of compound interest
Imagine you invest $1,000 at a 5% annual interest rate. If the interest is simple (not compounded), you earn $50 annually. After 10 years, you have about $1,500. But, with compound interest, you earn interest on the $1,000 in year one, then on $1,050 in year two, and so on. After 10 years, your $1,000 grows to $1,628.89 — not because the rate is higher, but because of the compounding effect.

Why timing matters
Compound interest thrives on a single crucial element: time. The earlier you start saving or investing, the more exponential the growth.

For example, investing $200 a month at age 25, with an annual return of 7%, will net you nearly $480,000 by age 65. If you start the same plan at age 35, you’ll only have approximately $227,000 by age 65.

Lessons on compound interest you wish you’d learned in school

Here are the most important principles of compound interest:
1. Start early, even with small amounts. Compound interest needs time to work its magic, and even a small amount of investing early in life could lead to significant returns over time.
2. The Rule of 72. Divide 72 by your annual interest rate, and you’ll get the number of years needed for your investment to double. Learning this trick early can inspire better saving habits.
3. Compounding works for debt, too. Credit card debt, for example, compounds at alarming rates, turning small balances into financial nightmares.
4. Harness the power of automation. Setting up automatic transfers to savings or investment accounts ensures consistent contributions and removes the temptation to spend.

Why understanding compound interest can be life-changing
Understanding the concept of compound interest can truly be life-altering. Here’s why:

• Increased financial freedom with robust investments.
• Less stress in emergencies, thanks to fast-growing savings.
• Early start on retirement savings, ensuring years of growth.

How to make up for lost time
It’s not too late to start harnessing its power. Here are a few steps to get going:

• Open a high-yield savings account, certificate, or start investing.
• Take advantage of employer-matched funds in retirement accounts.
• Automate your savings to ensure consistency.
• Educate yourself to better understand how compounding works.

Learning to harness the unique power of compound interest can make all the difference to your financial health.

In today’s digital world, debit card fraud is an ever-present threat. Among the many tactics scammers use, debit card takeover scams are particularly alarming. These scams can result in unauthorized access to your financial accounts, drained bank balances, and countless hours spent trying to recover your hard-earned money, which is often futile. The good news? By recognizing the warning signs and taking proactive measures, you can safeguard yourself against such attacks. 

How it works: 
Scammers often call, text, or email you posing as your financial institution. They will go as far as making the numbers or email addresses appear to be from the real institution. They give you enough information to make you believe it is legitimate, like card numbers, phone numbers, and even addresses. Then they will try to scare you with some sort of threat, like a fraudulent charge, or overpayment. The scammers then ask for account or personal information. They will ask for things like pin numbers, social security numbers, or passwords. LEGITIMATE financial institutions will never call you requesting sensitive information this way. 

How to Avoid Falling Victim to This Scam 
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Be Wary of Suspicious Calls 

• If someone calls claiming to be from a financial institution and demands your information, especially with urgency or threats, hang up immediately. Instead, contact your financial institution directly using a verified phone number. 

Avoid Clicking on Links in Emails or Texts 

• Refrain from clicking any links in unsolicited emails or text messages. If you’re unsure, reach out to your financial institution directly to verify the communication. 

Enable Account Alerts 

• Take advantage of account protection tools offered by your financial institution. At IRFCU, we provide debit card alerts that notify you whenever your card or card numbers are used in-store or online. If you notice unusual activity, you can lock your card instantly. Additionally, we offer a wide range of eAlerts to keep you informed about your account activity. 
  
  

Final Thoughts 
Debit card takeover scams are unsettling, but with awareness and proactive steps, you can protect yourself. Educate yourself about the latest fraud tactics, remain cautious with your financial information, and always trust your instincts. Remember: when in doubt, contact your bank or credit union directly to verify any suspicious communication or activity. By staying vigilant, you can safeguard your finances and peace of mind. 

Bitcoin ATMs are becoming increasingly common, appearing in gas stations, grocery stores, smoke shops, and other locations. However, scammers are exploiting these machines to steal money from unsuspecting victims. According to the Federal Trade Commission, consumer losses from Bitcoin ATM scams have reached $114 million—and this alarming trend has even affected our local community. 
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How it works: 
Scammers typically call victims and create a sense of panic by presenting an urgent and dire situation. Using intimidation and pressure, they convince the target that the only resolution is to withdraw money from their bank account and deposit it into a specified Bitcoin ATM. 
Unfortunately, due to the nature of Bitcoin and its systems, once the funds are transferred, they cannot be recovered. 
 
How to Avoid Falling Victim to a Bitcoin ATM Scam

• NEVER share sensitive or private information in response to unexpected calls or emails.
• ALWAYS verify the legitimacy of any request before taking action.
• Be cautious if the caller uses threats, intimidation, or urgency to pressure you into acting quickly.
• Remember, no legitimate organization will demand payment in cryptocurrency or threaten immediate legal consequences for not providing personal information or payment.
• Be wary of anyone asking you to scan a QR code or requesting a code sent to your phone.
• If something feels suspicious, trust your instincts. Slow down, think carefully, and avoid giving out personal information or access to your devices.

If you believe you’ve fallen victim to a scam, contact your financial institution immediately for assistance.

McAfee imposter scams are a type of phishing or fraud where scammers pretend to be from McAfee, a well-known antivirus company, to deceive individuals into giving away sensitive information, money, or access to their devices. Here's how to spot such scams and what to do if you’re targeted: 

• The pop-up uses alarming, urgent language claiming your device is already infected or your data is at immediate risk.
• It includes a countdown timer pressuring you to act quickly before supposed damage occurs.
• The alert requests payment information or instructs you to call a "support number" to resolve the issue.
• You cannot easily close or navigate away from the pop-up window.
• Check if you have McAfee software installed in Control Panel or Settings. If you do not have it installed, then it is a fake pop-up.
• Watch for common red flags indicating an unsolicited email, text, or call is likely the McAfee subscription scam rather than legitimate.

We advise that you immediately shut down your computer. DO NOT click any links provided. DO NOT call any number provided. Do not let their manufactured urgency scare you into giving the scammers any sensitive information.
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• Ignore emails, calls, or pop-ups claiming to be from McAfee if they seem suspicious. Avoid clicking on links or providing any personal information.
• If you’ve shared payment information, monitor your bank and credit card statements for unauthorized charges. Notify your financial institution immediately.
• Update any passwords you may have shared or that could be compromised. Use strong, unique passwords for each account.
  
• Stay informed about phishing tactics and regularly review cybersecurity best practices.

Q: How can I determine if a debt consolidation service is legitimate?

A: In a debt consolidation scam, an alleged debt consolidation service will reach out to an individual with an offer to consolidate all debt into one low-interest loan. But, after fees and information are collected, the “company” vanishes and never fulfills its promise of moving the debt. 

Debt consolidation scams can be difficult to spot, so it’s a good idea to learn how to recognize the red flags. Here’s how to determine if a debt consolidation service is legit. 

Check accreditation and licensesLegitimate debt consolidation companies should be accredited by recognized organizations like the National Foundation for Credit Counseling (NFCC) or Financial Counseling Association of America (FCAA). These organizations set strict ethical guidelines for member companies. Also, many states require debt consolidation services to hold a license to operate. You can verify a company’s legitimacy by checking with your state’s regulatory body.

Research the companyThoroughly research the company by checking reviews from previous clients. You can also look up the company on sites like the Better Business Bureau (BBB) and Trustpilot for honest customer feedback and ratings. If you notice a pattern of complaints, especially regarding shady business practices, take it as a signal to avoid them.

Understand the fees and costsLegitimate debt consolidation services should be transparent about their fees. If a company is vague or hesitant to detail costs upfront, this is a big-time warning sign. Typical fees can include origination fees for setting up the loan or service, and some may charge a percentage of the debt amount. However, any high and unexplainable fees should be considered a red flag.

Be wary of upfront feesBe cautious of any service wanting payment before doing anything. This is often a telltale sign of a scam. Genuine debt consolidation services usually take their fee from the amount saved or through regular payments once the debt restructuring or consolidation is in progress.

Evaluate the terms and interest ratesA legitimate debt consolidation service will offer clear and reasonable terms. Before signing up, review the proposed interest rates and compare them to your existing debts. While the purpose of debt consolidation is to lower your overall interest rate, some companies may offer terms that don’t actually do that in the long run.

Avoid companies with claims that sound too good to be trueOne major sign of a debt consolidation scam is a company that makes outrageous promises. If a service claims it can “erase your debt overnight” or “guarantee results,” proceed with caution. No legit company can promise to remove your debt entirely without repayment or to erase it from your credit history instantaneously.

Ask about their debt counseling servicesMany legitimate debt consolidation companies offer credit counseling services as part of their offering. These services should include educating you on managing your debt, budgeting and financial planning. This ensures you don’t fall back into financial trouble later. If a company isn’t interested in helping you improve your financial habits and only focuses on consolidating your debt without any long-term guidance, it’s worth reconsidering your choice.

Consult with a financial advisorA third-party professional who is not tied to the debt consolidation company can help you review the terms and ensure the option you’re considering is truly in your best interest. They can also help you weigh other potential solutions, such as debt management or bankruptcy, depending on the severity of your situation.

Red flags 
Before choosing a debt consolidation service, check for these warning signs:

• High pressure tactics
• Upfront fees
• Poor reviews
• Vague explanation of fees
• Outrageous claims
• Unsolicited contact
• Guaranteed approval

If you encounter any of these in a debt consolidation service, you are likely looking at a scam. 

Stay alert and stay safe!

Unless you’re an auto mechanic or self-professed expert on cars, you likely don’t know all there is about the inner workings of your car. This can make you vulnerable to falling for an auto repair scam, which can be challenging to spot. 

Here’s what you need to know about auto repair scams, and how to keep yourself from falling victim. 

How auto repair scams play out
Auto repair scams can come in many forms, but they generally follow a similar pattern. Here are a few common scenarios:

• The mystery problem scam. You take your car in for a simple issue, like an oil change or tire rotation and the mechanic “discovers” a more serious, often vague problem requiring immediate attention. 
• The bait and switch scam. Here, a repair shop advertises a low price for a common service. Once your car is in the shop, they’ll find additional “necessary” repairs that inflate the final bill. The shop may even perform the extra work without your consent, leaving you with no choice but to pay.

• The used parts scam. In this scam, a mechanic charges you for new parts but installs used or refurbished ones. The parts may be of inferior quality, leading to more frequent breakdowns and the need for additional repairs..

• The endless repairs scam. After completing a repair, the mechanic tells you that another unrelated issue needs fixing. This cycle continues, with one repair leading to another, making it seem like your car is constantly in need of service. 

Red flags to watch out for
Look out for these warning signs that you may have been targeted by an auto repair scam:

• Unsolicited repair suggestions. 
• Vague or confusing explanations for repairs that are allegedly necessary. 
• High-pressure tactics. 
• Refusal to provide written estimates. 
• Unexplained charges on the invoice.

Protect yourself
Here’s how to protect yourself from falling victim to an auto repair scam. 
First, before hiring a mechanic or heading to an auto repair shop, do your research. Look up reviews online, ask for recommendations from friends or family and check the shop’s credentials. It’s also recommended that you familiarize yourself with your car’s basic maintenance needs and how it functions. The more you know, the less likely you are to be taken advantage of.

Next, get a second, or even third opinion on any major repairs before agreeing to have work done.  Comparing estimates can help you determine if a shop is overcharging or recommending unnecessary work.
Keep detailed records of all repairs and services performed on your vehicle so you can 
track its history and identify any inconsistencies if a mechanic claims something needs repeated attention.

Finally, if you find a mechanic you trust, stick with them. Building a long-term relationship can help ensure that your car receives honest, high-quality service over time.
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Auto repair scams can be a nightmare for car owners, but by staying informed and vigilant, you can protect yourself from falling victim. Stay safe!

You’ve got an unexpected phone call from a helpful representative wanting to sell you a fabulous product, and you didn’t even know you’ve been missing it: an extended warranty on your car. Don’t sign up for anything just yet! You may be the target of an extended warranty scam. 


Here’s what you need to know about extended warranty scams and how to avoid them.


How do these scams play out?
Extended warranty scams play out like this:
First, you get an unsolicited offer. This can be by phone, email or a letter from a company claiming to provide extended warranties for your vehicle after your current warranty expires (whether you have one or not). Next, the scammer seeks to create a sense of urgency by claiming this is a limited-time offer, so you have to act now or risk costly out-of-pocket repairs.  Once you show even the slightest bit of interest, the scammer provides vague or misleading info about the coverage. Then, after convincing you to sign up, the scammer asks for your credit card information to charge an upfront fee and set up recurring monthly payments. When the dust clears, you’ll be left with fake or useless coverage.


Red flags of extended warranty scams
Look out for these signs of an extended warranty scam to protect yourself from falling victim:

• Unsolicited contact. Be cautious whenever you get an unsolicited offer for an extended warranty.
• High-pressure sales tactics. If you’re pressured to make a quick decision, you’re likely looking at a scam.
• Lack of details. If the contact can’t provide you with clear details about the alleged coverage, it’s likely a scam.
• Request for immediate payment. Any company demanding upfront payment has a very good chance of being a scam.
• You can’t find any information on the “company”. If there’s no physical address or legit online presence for the alleged company, it’s likely a scam.  
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Protect yourself from extended warranty scams
Protecting yourself from extended warranty scams requires vigilance and skepticism. Here are some tips to help you stay safe.
First, before agreeing to any warranty, research the company that’s offering it. Look for reviews to see if the company is registered with your state’s consumer protection agency. A lack of information or negative reviews should be a major red flag.


Next, if you’re unsure whether your current auto warranty is about to expire or if you need an extended warranty, contact your car dealership directly. They can provide accurate information and offer legitimate options, if needed. 
If you are considering an extended warranty on your car, be sure to read the contract carefully. Pay close attention to what is and isn’t covered and don’t sign any contracts until you fully understand the terms. 
Finally, never share personal information with unverified contacts. 
Extended warranty scams can prey on unsuspecting car owners and trap them in high-cost but useless plans. Use this guide to stay safe!