Victims of Credit Card Fraud

[SOGGIE]

I am interested to learn the causes and sources of those who fell victim to credit card fraud. In my almost 26 years as a credit card consumer, I have never experienced any cc fraud. What I don't do is: pay at a gas pump, hand my cc over to any waiter/waitress at restaurants, pay online using my cc unless the payment is channeled through PayPal, or provide my cc info over a phone or fax. My cc's are usually stored in a safe place and I only carry them when specifically needed to make a purchase. When I do carry them, they are inside an RFID wallet. I'm just wondering if there is more that I can do in effort to prevent being a victim of cc fraud. I appreciate any responses.

[RonM21]

You really go all out on protecting your info, and in this day and age, there is absolutley nothing wrong with that approach.

I think the trouble comes because most others are not as protective, usiing the methods you mentioned, because it takes away some of the convenience factor that using plastic allows. Most opt for the easier way. I'm guilty.

It's a catch 22 though, because while the convenience is nice, this also opens is up to more risk that someone can get our info.

[Anonymous]

Considering you dont have liability for fraud, that seems like a lot of work. The only time I had fraudulent activity was when someone stole my card out of the mail. Whether that was someone in the postal service or someone taking it out of my mailbox, I dont know. I found out about it when BoA texted me a fraud alert. They took care of it no problem.

[SOGGIE]

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@Anonymous wrote:
Considering you dont have liability for fraud, that seems like a lot of work. The only time I had fraudulent activity was when someone stole my card out of the mail. Whether that was someone in the postal service or someone taking it out of my mailbox, I dont know. I found out about it when BoA texted me a fraud alert. They took care of it no problem.

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Thanks for your response Johnny! It really isn't a lot of work for me though. I don't feel the need to carry my cc's on me unless I intend to use them. And I really don't want other's touching my cards. LOL! Well....that sucks that your card was stolen. That is great that BOA alerted you and resolved the problem. I guess we [cardholders] can't control those types of situations. I don't have the tolerance or patience if I were to be in a sito where I had to be assigned a new account number and have to wait for a new card. And I know I wouldn't like to see the notation, "Card Stolen" on my credit report. What really bothers me about the Postal Service is that I personally know postal employees who have serious drug addictions coupled with dishonesty issues and they are not routinely drug tested. No mandatory random hair sample drug testing? Wow! Even many insurance companies conduct drug testing of their employees.

[SOGGIE]

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@RM21 wrote:
You really go all out on protecting your info, and in this day and age, there is absolutley nothing wrong with that approach.

I think the trouble comes because most others are not as protective, usiing the methods you mentioned, because it takes away some of the convenience factor that using plastic allows. Most opt for the easier way. I'm guilty.

It's a catch 22 though, because while the convenience is nice, this also opens is up to more risk that someone can get our info.

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Thanks for your input RM! Yes I am very careful. LOL! Actually I might be interested in obtaining the Plastiq smart wallet when it becomes available. Once I know they provide the ability to use the card chip and read the reviews of others, I very well may get it.

[CatOfSpades]

Wow, I never do any of this. I've had my fraud on any of my accounts probably four times. Once was on my check card in college, and I caught it before it went through. And that wasn't really fraud, someone scammed my number out of me over the phone. Live and learn. Haha. Once was actual fraud with Chase, and they caught it. Once was with Citi, and they caught it. And once was on my debit card at a tiny local bank, and I caught it after they authorized the purchase and it took two weeks to get my $$ back. So I left the bank. This is over a 13 year span of time. I did get issued a new card a couple of other times because there was a date breach somewhere, but that was as a precaution. 

I've been using estatements forever, that might help, and I do use Paypal online sometimes. I also pay with cash sometimes at restaurants, but that's because we're to-go people, so if I'm sitting down at a restaurant with waiters, I'm either not paying or I'm paying with blow money from my cash budget because the trip was not my idea, which means I didn't budget for it under the dining out category. I'm not very spontaneous. So, I don't know. I certainly can't think of anything else you could be doing.  

[SOGGIE]

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@CatOfSpades wrote:

Wow, I never do any of this. I've had my fraud on any of my accounts probably four times. Once was on my check card in college, and I caught it before it went through. And that wasn't really fraud, someone scammed my number out of me over the phone. Live and learn. Haha. Once was actual fraud with Chase, and they caught it. Once was with Citi, and they caught it. And once was on my debit card at a tiny local bank, and I caught it after they authorized the purchase and it took two weeks to get my $$ back. So I left the bank. This is over a 13 year span of time. I did get issued a new card a couple of other times because there was a date breach somewhere, but that was as a precaution. 

I've been using estatements forever, that might help, and I do use Paypal online sometimes. I also pay with cash sometimes at restaurants, but that's because we're to-go people, so if I'm sitting down at a restaurant with waiters, I'm either not paying or I'm paying with blow money from my cash budget because the trip was not my idea, which means I didn't budget for it under the dining out category. I'm not very spontaneous. So, I don't know. I certainly can't think of anything else you could be doing.  

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Thanks for the input Cat! Four times? OMGee! My daughter gets hit left and right w/ the cc/debit card fraud. It usually is either a result of use at a restaurant or gas station. Most of her hits were while using a TD Bank issued card. I just shake my head in awe everytime she has to get a card/account replacement. I get so worried about my Chase account. Too many horror stories with the Chase cards.

[disdreamin]

I've had cards replaced due to potential compromise many more times than I've seen actual fraud on the card. Four times now due to major retailers having issues, if memory serves.

For actual fraud, it was Barclay's and I got a text fraud alert at o'dark hundred on a Sunday morning, I think it was. Nope not me, so I texted back NO and they shut down the account. Called them when I got up, fraudulent authorizations were taken care of and I had a new card overnighted to me. Whether that fraudulent useage was due to compromise of the actual card while in someone elses hands, or stolen/spoofed numbers through some retailer ,or RFID reader I'll never know, but I'm not going to change how I utilize credit because of it.

I won't choose restaurants based on where I can swipe at the table, and I won't stop ordering food by phone when it is convenient or necessary. I will continue to use cards in those situations because I want the rewards. For gas, I will continue to pay at the pump because that is most convenient for me, especially when I have young un's with me.

If this means once in a rare while my card is compromised, so be it. I use my cards well over a thousand times a year for all manner of things, and only once have any of my cards actually been compromised. That's a pretty good track record, and unless something happens to shift the statistics on that, well...I'm going to continue on with business as usual.

[SOGGIE]

Interesting response disdreamin! Never thought about it, but that is probably why my daughter pays at the pump (having young children with her). As long as you are comfortable with your practices....