Hi there ...
Its every ones nightmare to know that your card account is compromised. This will be worst if you don't know about the same at right time and end up in disputing the same with the financial institute. This is what happened to me and hope you all fellow mates keep track of your spend and credit card transactions.
I stay in Arizona and I have Toy URs Master card with a credit limit of 8K which is in socks drawer for a long time. Late in the night I got a call from Synchrony bank saying there is fraudlent transactions on my account and some one tried to book flight tickets in New Jersey and also tried to use my credit card at couple of gas stations. I was already out of my bed with no pants on 
. She asked me hell lot of questions and made sure I am the person whom she wants to speak, confirmed on fraud and closed my credit card right way.
Bad thing : As I said this can happen to any one. Even though you have your credit card in your possession, some one can access it remotely with out your notice.
Good thing : Most of the big financial institutes have a way to tarck these fraudulent attempts and stop them as soon as possible.
Not every one will be as lucky as me. Most of my friends claims that credit card companies give you a benefit of 0% fraud liability, however if it gets late to identify the same I will be in huge risk.
Question to the group :
1. How to overcome with this type of situations ? We can't always login to credit card sites daily now and then and verify 10 or more credit card sites. Which seems to be stupid for me.
2. Do you have any other safest way to keep track of all your transactions and update you on dialy basis ? I use Mint.com, where all my accounts are linked and the sad part is Synchrony bank accounts can't be linked with Mint.com. This is a pain.
3. Have you ever come across, this type of situation in past ? If so, how did you get thru it ? I don't want to close my accounts with good limits as it will impact my utilization and I feel this is not a solution for this issue.
Group leaders do you have any plan to make our fellow mates aware of this type of situations and steps we should take to avoid or overcome it ? Any previous blogs which explains this will be of greater help.
Getting good credit is one side of coin and safeguarding your credit is another side of the same coin ... hope you all agree with me.
@CardsLifeLine wrote:Hi there ...
Its every ones nightmare to know that your card account is compromised. This will be worst if you don't know about the same at right time and end up in disputing the same with the financial institute. This is what happened to me and hope you all fellow mates keep track of your spend and credit card transactions.
I stay in Arizona and I have Toy URs Master card with a credit limit of 8K which is in socks drawer for a long time. Late in the night I got a call from Synchrony bank saying there is fraudlent transactions on my account and some one tried to book flight tickets in New Jersey and also tried to use my credit card at couple of gas stations. I was already out of my bed with no pants on
Bad thing : As I said this can happen to any one. Even though you have your credit card in your possession, some one can access it remotely with out your notice.
Good thing : Most of the big financial institutes have a way to tarck these fraudulent attempts and stop them as soon as possible.
Not every one will be as lucky as me. Most of my friends claims that credit card companies give you a benefit of 0% fraud liability, however if it gets late to identify the same I will be in huge risk.
Question to the group :
1. How to overcome with this type of situations ? We can't always login to credit card sites daily now and then and verify 10 or more credit card sites. Which seems to be stupid for me. Unfortunately there isnt much you can do other than to protect your cards information, I have had this happen to cards I have never used, that tends to tip me off that its an insider who caused the compromise. To protect self on the web use 1 card only for everything it cuts out on the possibility of multi card compromises.
2. Do you have any other safest way to keep track of all your transactions and update you on dialy basis ? I use Mint.com, where all my accounts are linked and the sad part is Synchrony bank accounts can't be linked with Mint.com. This is a pain. I log in to all my accounts every other day or so to check on them.
3. Have you ever come across, this type of situation in past ? If so, how did you get thru it ? I don't want to close my accounts with good limits as it will impact my utilization and I feel this is not a solution for this issue. Just dispute any charges that are not yours if it gets past the banks security measures. I also suggest you never leave a CC onfile with a website unless its abs necessary like Ebay.
Group leaders do you have any plan to make our fellow mates aware of this type of situations and steps we should take to avoid or overcome it ? Any previous blogs which explains this will be of greater help. There is no plan thats been laid out for this that I am aware of, Im sure there are past threads on it that can be found with the search function. There is a plan laid out for ID Theft cases.
Getting good credit is one side of coin and safeguarding your credit is another side of the same coin ... hope you all agree with me.
