Amex wants a FR due to Fraud on card

[Anonymous]

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@elim wrote:

I think they expect us to be employed by them these days by monitoring our own accounts via text alerts.   On the other hand, losing a card and not letting them know (and having them foot the 8k bill) may be the reason they are trying to kick you to the curb.

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This is America. AMEX isn't footing any bill unless the purchases were made online or at a retailer who accepts credit cards but only by chip reading them. If it's neither of these scenarios, the merchants pay for the fraud, and boy do I feel bad for those merchants. 

[wasCB14]

When fraudsters use a cloned magnetic strip card in person, do they usually go to the extent of getting/making a fake ID that has the victim's name? Or they just hope that the merchants will want lines to move quickly and won't bother to ask for ID?

[austinguy907]

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@wasCB14 wrote:

When fraudsters use a cloned magnetic strip card in person, do they usually go to the extent of getting/making a fake ID that has the victim's name? Or they just hope that the merchants will want lines to move quickly and won't bother to ask for ID?

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When's the last time you used your card and got asked to show an ID?   I can't even remember when I was last asked at this point it could be years.

[Anonymous]

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@wasCB14 wrote:

When fraudsters use a cloned magnetic strip card in person, do they usually go to the extent of getting/making a fake ID that has the victim's name? Or they just hope that the merchants will want lines to move quickly and won't bother to ask for ID?

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A cashier making $9.75 an hour probably doesn't care as long as there isn't a line of angry customers to deal with. 

[wasCB14]

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@austinguy907 wrote:

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@wasCB14 wrote:

When fraudsters use a cloned magnetic strip card in person, do they usually go to the extent of getting/making a fake ID that has the victim's name? Or they just hope that the merchants will want lines to move quickly and won't bother to ask for ID?

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When's the last time you used your card and got asked to show an ID?   I can't even remember when I was last asked at this point it could be years.

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NY and New England? Very rarely.

Southern California? At some major retailers with conventional checkout lines. CVS and Staples come to mind. Not at grocery stores or restaurants, though.

Edit: The purchases at CVS and Staples have generally been under $50 and unexciting. It's not like I buying a $1,000 computer or doing MS.

[Anonymous514]

Something is off here. Are you hiding something on your taxes? Not accusing just don't see why you would close them like this if you were 100% with Amex from the start.

[longtimelurker]

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@bigalkescott514 wrote:

Something is off here. Are you hiding something on your taxes? Not accusing just don't see why you would close them like this if you were 100% with Amex from the start.

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Come on!  There are lots of reasons for deciding not to share tax information with an issuer, depending how intrusive you find it.   If you determine that the benefits of the card are not worth the effort, then you simply close.

As an exterme comparison: next time you use a credit card, they want full biometric proof of identity, 5 years history of all your spending, and CCTV monitoring in your home to make sure that you are not doing anything that might impact your ability to pay.   If you have been 100%, then no problem, right?

Different people just have different thresholds for reward vs privacy/effort.

[Anonymous]

Personally I'd close the account once the fraud charges are resolved. I went through an Amex FR in 2008. It was painless. At that time I very much valued my SPG Card and my Amex relationship (which was still new). I'm no longer loyal to Amex - and to be honest I sorta hate them.

If I were you I would do the following: (1) report the card stolen, etc w/ Amex and dispute charges; (2) file a police report; (3) contact CFPB to complain that Amex has targetted you for a FR without cause and put the burden on them to show CFPB reasons for the FR or at least repond to your concerns; and (4) close the account.

[Anonymous514]

With all due respect I cannot take your comparison seriously. So no I don't understand why you find it so intrusive. It's between you and that bank, no one else. I feel a fr should only be feared if you were not 100% witht the bank. Not here to argur just saying.

[longtimelurker]

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@bigalkescott514 wrote:

With all due respect I cannot take your comparison seriously. So no I don't understand why you find it so intrusive. It's between you and that bank, no one else. I feel a fr should only be feared if you were not 100% witht the bank. Not here to argur just saying.

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My extreme example was also between you and the bank.     Also, it is no "fear" that is the metric.   You can have privacy concerns (and you are aware that people do, right?) and merely decide that the value of the card does not exceed these concerns.

I have submitted a 4506-T because I did want the CLI on that particular card.  For other issuers, I would not bother.

The bottom line is that people have different perceptions of "this is too much to ask", even if they have done nothing "wrong".