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FTF/Cash Advance Fee

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longtimelurker
Epic Contributor

Re: FTF/Cash Advance Fee

While not perfect, some issuers have a way of generating temporary card #s on line, that can only be used at one retailer for a short period of time.  See, e.g, Citi's Virtual Account Numbers

Message 11 of 16
visorboy1974
Valued Contributor

Re: FTF/Cash Advance Fee

With WU/Moneygram, YMMV.  Most major banks will code them as cash advances while some credit unions will code them as purchases.   

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Message 12 of 16
trumpet-205
Valued Contributor

Re: FTF/Cash Advance Fee


@JediNeo wrote:

I think my concern dealing directly with the retailer is CC fraud. Lucky I've never had to experience that. In my mind it's easier to lose $x.xx via money gram vs trying to correct issues with possible fraud/ID theft.


Actually, it is much easier to fight CC fraud with direct charges from retailer than through 3rd party such as PayPal, Money Gram, etc. 

 

In fact, you have zero protection if your payment does not come from retailer directly, both in federal law and in T&C aspect.

 


@longtimelurker wrote:

While not perfect, some issuers have a way of generating temporary card #s on line, that can only be used at one retailer for a short period of time.  See, e.g, Citi's Virtual Account Numbers


Be careful with this approach. Some retailers will want to manually verify CC before approving charges. This involves either a call to CC issuer or a photo copy of your CC.

 

Plus, some foreign websites only accept card that support 3-D Secure (Verified by Visa, MasterCard SecureCode). Most US issued card don't support this feature.

Message 13 of 16
PandiferBear
Frequent Contributor

Re: FTF/Cash Advance Fee


@trumpet-205 wrote:

@JediNeo wrote:

I think my concern dealing directly with the retailer is CC fraud. Lucky I've never had to experience that. In my mind it's easier to lose $x.xx via money gram vs trying to correct issues with possible fraud/ID theft.


Actually, it is much easier to fight CC fraud with direct charges from retailer than through 3rd party such as PayPal, Money Gram, etc. 

 

In fact, you have zero protection if your payment does not come from retailer directly, both in federal law and in T&C aspect.


+1

 

I would want to protect my investment.  Especially if it is a large purchase.  Your protection as a buyer is a great thing about credit cards. 

EX 793 (06/29/16) TU 787 (07/03/16) EQ 711 (06/30/16) Goal: 780 across the board
Amex Everyday: $25,000 | Venture: $15,000 | Chase Hyatt: $12,000 | Discover IT: $11,700 | Barclay Ring $7,500 | Quicksilver: $7,750 | CareCredit: $5,000 | Amazon Synch: $5,000
Message 14 of 16
longtimelurker
Epic Contributor

Re: FTF/Cash Advance Fee


@trumpet-205 wrote:
@longtimelurker wrote:

While not perfect, some issuers have a way of generating temporary card #s on line, that can only be used at one retailer for a short period of time.  See, e.g, Citi's Virtual Account Numbers


Be careful with this approach. Some retailers will want to manually verify CC before approving charges. This involves either a call to CC issuer or a photo copy of your CC.

Plus, some foreign websites only accept card that support 3-D Secure (Verified by Visa, MasterCard SecureCode). Most US issued card don't support this feature.


I would have thought that Citi would verify the Virtual Account number if called, is that not the case? 

 

I've never had a retailer asking for a photocopy of a cc, sounds too dangerous for the sender and, in the age of photoshop, no real protection for the merchant.

 

Foreign sites I buy from do sometimes attempt Verified by Visa, but drop the request if the card I am using doesn't support it.   But I guess that there are those that wouldn't.   But if that is the case, the OP is out of luck using a CC anyway,  right?

Message 15 of 16
trumpet-205
Valued Contributor

Re: FTF/Cash Advance Fee


@longtimelurker wrote:

I've never had a retailer asking for a photocopy of a cc, sounds too dangerous for the sender and, in the age of photoshop, no real protection for the merchant.

 

Foreign sites I buy from do sometimes attempt Verified by Visa, but drop the request if the card I am using doesn't support it.   But I guess that there are those that wouldn't.   But if that is the case, the OP is out of luck using a CC anyway,  right?


One site I visit from time to time, Play-Asia.com, would ask for a photo copy of CC and photo ID if you use a CC that doesn't support 3-D Secure. It happened to me once. Luckily they allow you to black out everything except your name plus first and last 4 digits of your CC number.

 

Some foreign sites will reject cards that don't support 3-D Secure. Most would skip it if your card does not support it, but some makes it mandatory.

 

And no, Citi does not verifiy virtual account number if you engage a conference call with them and retailers.

 

Note: 3-D Secure is a collective name for Verified by Visa, MasterCard SecureCode, AMEX SafeKey, etc.

Message 16 of 16
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