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CC HOLDERS BEWARE MUST READ!!!

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Open123
Super Contributor

Re: CC HOLDERS BEWARE MUST READ!!!


@blondy250 wrote:

You don't need a new card for that, i called Citibank and asked them to deactivate the mastercard part of my Debit card, took 60 seconds. Now it works as a reg debit card w a pin, never got a new card.


Thanks!  

 

I just may follow suit and given them a call to request the change.

Message 31 of 47
longtimelurker
Epic Contributor

Re: CC HOLDERS BEWARE MUST READ!!!


@sakhalin070 wrote:

@bernhardtra wrote:
When I travel I put my cards in a metal wallet.  I had a friend whose card number was stolen because it had a chip in it.  He thinks it was done at the airport with a RFID type reader.  (Yes, this is possible for those that have a chip in their cards.  If McDonalds can use a card with Pay Wave or whatever, what is stopping a person from simply walking through a crowd and collecting numbers?)  I think I only have one card with such a chip or I would probably use the metal wallet more often!

Wow, never thought about this chip thing before.  Thanks for the heads up.  I just PC'd my BoA card into the Travel Rewards card which has a chip.  I'm also going to go to travel in about a month.  Totally going to go with a metal wallet now.  It won't be cute like the current wallet I have, but safety over physical appearance of my wallet anyday!


Isn't the Travel Rewards card EMV rather than RFID, in which case it can't be easily read.

Message 32 of 47
randeman
Frequent Contributor

Re: CC HOLDERS BEWARE MUST READ!!!

Wow...weirdly coincidental, tonight I was notified by Citibank that someone had attempted to charge over $1500 at a New York store with my account information.  Fortunately, it was declined.  Dodged that bullet.

Experian Score: 689--Amex 27 July 2014; Equifax Score 680--MyFICO--17 September 2014; TransUnion Score 718-Discover 20 August 2014--PUH-RAISE JESUS, I finally broke 700!!! Cards and Credit Lines: Escape by Discover, Chase Freedom Signature Visa, Chase United MileagePlus Explorer Signature Visa, Chase Sapphire Preferred Signature Visa, Barclay's Holland America Visa, Citibank Custom Credit Line, Paypal Custom Connect Credit Line, Bloomingdale's, Macy's Premier Elite, Amazon Store Card, Lord & Taylor, Nordstrom, Discover It, Gold Delta SkyMiles from American Express, PayPal BML.
Message 33 of 47
CS800
Super Contributor

Re: CC HOLDERS BEWARE MUST READ!!!

After reading this, I did log on to check on my BOA 1-2-3 for any charges since I went to OG this past week end. Nothing popped up.

 

But most CC's have fraud protection anyway. I had one on my USAA AMEX and called them and it was removed (after investigation that lasted 1 week). I would think that would be a reason to use a CC that offers 100% fraud protection.

 

Years ago when I was only using my debit card, one day i had about 12 fraudulent charges and it was such a pain to get rid of them. I had about $1400 worth of fraudulent charges. Alhough I got it back, that was $1400 less in my checking for 3 weeks. BOA did a good job though.

 

So on my end, I will always use a CC for the fraud protection reasons.




Message 34 of 47
Open123
Super Contributor

Re: CC HOLDERS BEWARE MUST READ!!!


@CS800 wrote:

So on my end, I will always use a CC for the fraud protection reasons.


+1

 

Right, while I understand debit cards have fraud protection, unless one doesn't have a CC alternative, it's an unnecessary risk.  The point is, why take risks where one doesn't have to?

Message 35 of 47
lithium78
Established Contributor

Re: CC HOLDERS BEWARE MUST READ!!!

Yeah, CCs are useful as a buffer between your checking account and the outside world.  If someone steals your CC, you just call the fraud department and everything is fine.  If someone steals your debit card, you will be missing the actual cash for weeks, which makes life much more difficult.  Just never purchase anything with a debit card and you'll be all right.


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Message 36 of 47
Open123
Super Contributor

Re: CC HOLDERS BEWARE MUST READ!!!


@lithium78 wrote:

If someone steals your CC, you just call the fraud department and everything is fine.  If someone steals your debit card, you will be missing the actual cash for weeks, which makes life much more difficult. 


Moreover, I don't like the notion that if my pin were to be compromised (many ways that can be accomplished these days), the Banks will insist the correct pin entered is proof I'm the user, requiring me to prove otherwise.

 

Whereas, with a CC, the onus of proof is on them to procur a signed authorization and prove it is indeed my signature, whereby the merchant also made efforts to compare the signature on said receipt to the one on the back of my card.

 

Until consumer protection rules keep pace with technological advances, I will never agree to using a pin # in lieu of a signature in the US, and only as a truly last resort abroad.

Message 37 of 47
CS800
Super Contributor

Re: CC HOLDERS BEWARE MUST READ!!!

One thing I also think is that with most CC, one can set up alerts to get text or email if a t ransaction is posted and the amount etc. Mentioned in this thread also. I do that with my cards wherever the option is available.

 

I select to get alerts when:

 

- Transaction of over $50 is made

- Payment is due

- Payment posted

 

AMEx has this cool one that if you buy something online and use your AMEX, it sends me an alert that says something like a transaction was made and I was not present .

 

I will ost this in antoher thread about AMEX's alerts.

 

Works really well.




Message 38 of 47
mmoon24
Valued Member

Re: CC HOLDERS BEWARE MUST READ!!!

OP, if I were you, I would have tagged along with the cops to see her get arrested. Then I'd give that smile that just says "U mad?"

 

I rarely ever use my debit card, but what makes debit cards easier to commit fraud on than CCs? Especially if it's physically used vs online. Both require either a pin/signature of some sorts.

Current Cards:
AMEX Blue Cash Preferred (5/2013): CL - $9,900
Chase Freedom (7/2013): CL - $8,700
Chase Freedom (8/2012): CL - $7,000
Chase Freedom Unlimited (7/2007): CL - $3,300
US Bank Cash+ (04/2015): CL - $5,000
Chase Sapphire Reserved (01/2017): CL - $14,000
Message 39 of 47
Open123
Super Contributor

Re: CC HOLDERS BEWARE MUST READ!!!


@mmoon24 wrote:

I rarely ever use my debit card, but what makes debit cards easier to commit fraud on than CCs? 


I don't do think it's all the same, but the difference is how the aftermath is handled.  

 

*Edited* For correction.

Message 40 of 47
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