Every year in the US, over 30 million people are victims of credit card or other financial fraud. Being the victim of a scam can be embarrassing, not to mention costly. According to the FBI’s Common Fraud website, senior citizens are common targets for many reasons, including the fact that they are less likely to report a fraud because “they are concerned that relatives may think [they] no longer have the mental capacity to take care of their own financial affairs.”
True Link founder Kai Stinchcombe created the True Link Prepaid Visa Card after discovering that his grandmother was the victim of several credit card frauds. He states on the True Link website that “monitoring my grandmother’s finances has required endless hours and countless difficult conversations. All along, we were torn between preserving her independence and protecting her wallet.”
The True Link Prepaid Visa Card tries to provide a reliable way of ensuring your elderly loved ones are fraud-free, without having to invade in their privacy or spend hours trying to follow the money trail.
What is the True Link Prepaid Visa Card?
It works like any other prepaid Visa or Visa Debit card – you can make purchases online, over the phone and in person. The card is “charged up” from any regular checking account or it can be linked to the direct deposit of a Social Security or pension check.
What sets the card apart is your ability to limit which merchants are allowed to charge the card. True Link has developed a database of fraudulent “stores” that can be blocked on the card. You can also block by merchant type – charity, subscription, clothing. By setting up these protections on the card, you ensure your elderly loved one’s finances are not lost to scams, no matter where they come from.
For more information about the True Link Prepaid Visa Card with Fraud Protection, visit the FAQs page at True Link.
Know someone who worries about their elderly parent in Charlottesville, Staunton, or Harrisonburg Virginia? Care is There Geriatric Care Management can help! Have them contact us for a free consultation: 434.326.5323 or firstname.lastname@example.org.
Elizabeth Swider, Geriatric Care Manager, Certified Senior Advisor
President, Care is There Geriatric Care Management
Support for independent living and long distance caregiving; assisted living enhancement