Next billing cycle you get your statement and find that the $200 in new purchases is still there - plus the couple of new charges you made since then.

If they're successful, months can pass before a cardholder discovers the fraud. After all, if your wallet hasn't been stolen and you haven't misplaced a card, you may be puzzled to discover that your card has been compromised even though it's safely tucked away the entire time.

While it might not be the simplest way to commit an identity theft, card shaving is on the rise. "Desperate times mean desperate measures," said Robert Siciliano, CEO of IDTheftSecurity.com and author of "The Safety Minute: Living on High Alert."

"In this economy, we are seeing scams of all kinds resurfacing, including credit card shaving." And all those purchases are compounding interest at a rate of 16, 19, 22% or more! What happened?

Well, as stated in the fine print, the credit card company allocated your entire payment to the zero interest balance because - well it's not making any money on that amount. But it certainly is on those new purchases!