topic Re: Capital One isn't Worried About Fraud in Credit Cards

Capital One isn't Worried About Fraud

Brian_Earl_Spilner — Sun, 25 Oct 2020 06:40:29 GMT

Got my replacement card from them today. They were nice enough to make sure it was already activated. Also noticed they gave me a wireless enabled card. Hope nobody scanned it on the way here. 🤞

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Re: Capital One isn't Worried About Fraud

Anonymous — Sun, 25 Oct 2020 07:17:13 GMT

... **bleep**?

This is seriously bad. If this is how they treat security don't think i'll be applying to Cap1 again.

I did in the past but was denied.

Re: Capital One isn't Worried About Fraud

wasCB14 — Sun, 25 Oct 2020 07:32:22 GMT

After meeting minimum spend with one large transaction, I kept mine locked between Postmates purchases.

Re: Capital One isn't Worried About Fraud

UncleB — Sun, 25 Oct 2020 07:49:53 GMT

Yeah, the last few Capital One cards I've received were the same. I admit it's a head-scratcher. 🤔

(At least with my recently 'adjusted' Capital One credit lines a fraudster wouldn't get as far, LOL. )

Re: Capital One isn't Worried About Fraud

staticvoidmain — Sun, 25 Oct 2020 08:05:44 GMT

If anything, it's actually the opposite. I am impressed with Capital One's fraud detection.

For them to be able to do this now, tells me one thing:

They got even better.

Re: Capital One isn't Worried About Fraud

Anonymous — Sun, 25 Oct 2020 09:30:45 GMT

@UncleB wrote:
Yeah, the last few Capital One cards I've received were the same. I admit it's a head-scratcher. 🤔

(At least with my recently 'adjusted' Capital One credit lines a fraudster wouldn't get as far, LOL. )

Take it you saw a CL reduction? Best part is small CLs don't take hacksters far?

Re: Capital One isn't Worried About Fraud

Anonymous — Sun, 25 Oct 2020 09:32:31 GMT

Always appreciate replacement credit cards that are shipped already activated (from any lender) Makes me sleep better at night!

Re: Capital One isn't Worried About Fraud

Anonymous — Sun, 25 Oct 2020 10:03:34 GMT

@staticvoidmain wrote:
If anything, it's actually the opposite. I am impressed with Capital One's fraud detection.
For them to be able to do this now, tells me one thing:

They got even better.

@staticvoidmain I can't tell if this is meant as sarcasm. If you're serious then I'd very much like to know how this action is impressive.

Re: Capital One isn't Worried About Fraud

VintageMel — Sun, 25 Oct 2020 11:35:43 GMT

But think of all the time and hassle they're saving you. Activating a card takes one, sometimes even two minutes. Surely that's worth the significant risk of theft.

Re: Capital One isn't Worried About Fraud

staticvoidmain — Sun, 25 Oct 2020 11:47:36 GMT

@Anonymous wrote: @staticvoidmain I can't tell if this is meant as sarcasm. If you're serious then I'd very much like to know how this action is impressive.

I am serious. From a software security standpoint, being able to make things more convenient for consumers is a milestone. This means, that their fraud detection has gotten so good to the point that older security measures can be phased out.

I am also serious that their fraud detection is great, compared to the competition. For example, when traveling, usually only Capital One and American Express did not require you to give them a notification. But now, the competition is catching up, they can now phase-out that extra step of calling the bank to notify them of your travel plans.

(I can tell you that the loser in this category in my experience is Chase... too many false positives.)

Here's another example of how security and convenience work in software: Remember when the only way of protecting your accounts is by typing passwords? Now you can use biometric authentication.

Re: Capital One isn't Worried About Fraud

AverageJoesCredit — Sun, 25 Oct 2020 11:43:32 GMT

@UncleB wrote:
Yeah, the last few Capital One cards I've received were the same. I admit it's a head-scratcher. 🤔

(At least with my recently 'adjusted' Capital One credit lines a fraudster wouldn't get as far, LOL. )

Adjusted? Was that an Elite or World.. ⭐😆

Re: Capital One isn't Worried About Fraud

rostrow416 — Sun, 25 Oct 2020 11:54:12 GMT

I didn't even read the sticker on mine 2 weeks ago. I only realized when I was trying to activate it online. A real head scratcher when I realized it was already activated.

This is coming from someone who actually did have their Capital One card number used fraudulently last year. Someone got a massage in San Francisco (I'm in NY) and paid using my "card". It wasn't stopped but I called to report it since i was notified via the app about an approved charge.

Re: Capital One isn't Worried About Fraud

kdm31091 — Sun, 25 Oct 2020 13:12:36 GMT

Honestly I think removing an activation step just makes it easier for the average person who wants to just recieve the card and use it. Most companies are getting better with fraud detection. I would imagine Capital One feels the activation (or lack of) does not really have a large role in fraud prevention.

Re: Capital One isn't Worried About Fraud

Anonymous — Sun, 25 Oct 2020 13:38:39 GMT

@staticvoidmain but thats with the assumption the card in question actually reaches the target consumer without being stolen and/or lost along the way.

I don't mind taking all of 1-2 minutes out of my day to activate a card. I tell you what I would find incredibly inconvenient, the nightmare of someone else activating it with ease and assuming my identity.

Re: Capital One isn't Worried About Fraud

staticvoidmain — Sun, 25 Oct 2020 14:35:30 GMT

@Anonymous wrote: I tell you what I would find incredibly inconvenient, the nightmare of someone else activating it with ease and assuming my identity.

How can anyone assume your identity if they can prevent fraud in the first place? It's just a card number and a name (which is already in the mailing address anyway). They don't have your personal info. Card security has come a long way.

I mean, worst case, if the card is ever used, and Capital One fails to detect it was fraudulent, they can just reverse that charge and block the card. Then maybe they'll send you a card that you'll need to activate if they think you're more likely to fail in their fraud prevention.

Re: Capital One isn't Worried About Fraud

Anonymous — Sun, 25 Oct 2020 14:42:00 GMT

@staticvoidmain wrote:
@Anonymous wrote: I tell you what I would find incredibly inconvenient, the nightmare of someone else activating it with ease and assuming my identity.
How can anyone assume your identity if they can prevent fraud in the first place? It's just a card number and a name (which is already in the mailing address anyway). They don't have your personal info. Card security has come a long way.

I mean, worst case, if the card is ever used, and Capital One fails to detect it was fraudulent, they can just reverse that charge and block the card. Then maybe they'll send you a card that you'll need to activate if they think you're more likely to fail in their fraud prevention.

Mkay

Re: Capital One isn't Worried About Fraud

pinkandgrey — Sun, 25 Oct 2020 15:39:55 GMT

Wow, is this for real?

Re: Capital One isn't Worried About Fraud

blindambition — Sun, 25 Oct 2020 15:57:36 GMT

They did that when sending replacement QS. It's things like this that I keep cards locked, and unlock the ones I use for the day. It's a head scratcher.

Re: Capital One isn't Worried About Fraud

AverageJoesCredit — Sun, 25 Oct 2020 15:58:32 GMT

@pinkandgrey wrote:
Wow, is this for real?

No, we are living in the Matrix and only chicken tastes like chicken

Re: Capital One isn't Worried About Fraud

Loquat — Sun, 25 Oct 2020 16:16:07 GMT

Citi does the same thing on requested replacement cards if the reason wasn't from lost/fraud as they'll issue the same card number with the same expiration date and CVV number.