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Well from what I read, it costs an average of $5.16 to have a card replaced. Mutlipy that by 100,000 card holders, and that's not chump change.
I'm 50/50 on this being an actual breach, vs a over extentsion of credit.
Remember, we have had two people have their accounts cancelled "after review", and someone else got their limit reduced quite a bit.
The breach of that one person's card could of been coincendental.
No one else has had any suspicious charges.
@FixMyCredit1992 wrote:Well from what I read, it costs an average of $5.16 to have a card replaced. Mutlipy that by 100,000 card holders, and that's not chump change.
I'm 50/50 on this being an actual breach, vs a over extentsion of credit.
Remember, we have had two people have their accounts cancelled "after review", and someone else got their limit reduced quite a bit.
The breach of that one person's card could of been coincendental.
No one else has had any suspicious charges.
I see you have been slammed with a locked thread on the "other" forum, I would suggest you let this go and let it play out, when they are ready they will release the necessary information. Give it up...
@FixMyCredit1992 wrote:Well from what I read, it costs an average of $5.16 to have a card replaced. Mutlipy that by 100,000 card holders, and that's not chump change.
I'm 50/50 on this being an actual breach, vs a over extentsion of credit.
Remember, we have had two people have their accounts cancelled "after review", and someone else got their limit reduced quite a bit.
The breach of that one person's card could of been coincendental.
No one else has had any suspicious charges.
They are starting to look at your online presence, aka google searching your name. I thought I'd let the myfico community know. No speculation as to the reason why.
@sagehet wrote:I may agree on this being definitively tied at least to the card numbers...how else would they be using peoples cards for advances? They must have the card numbers.
The concern is if they really are able to reset pins, that means they've gotten peoples personal information too which would mean it's a larger deal.
The other side of the coin, is that OCCU is a credit union, not a bank, so there is a big difference. CU's are owned by members, and it is possible that the recent rush of applications through their system was an inadvertent mistake. I would not be the least surprised if the outcome is what I'm thinking as of now. That's a secret. LoooL.
@sagehet wrote:
The locking and unlocking of accounts sometimes multiple times is bizarre. Also note that the target breach had to do with faked vendor IDs per the Wall Street journal. Who knows what implications that revelation may have throughout the industry.
The bizarre part of this is how they're handling it. Every other bank or CU has a banner for the recent breaches and how they're handling it. Yet here it's kind of secretive.
Anyway hopefully it works out. I think a lot of accounts will be gone after this.
That was my thought too, if they are going to blanket close accounts, both the TL and inquiry should be removed from cr. Only fair, ce la vie