Credit Card Security

[Anonymous]

Hi, I'm new to this forum. I have had a lot of fraudulent activity on one of my Chase VISA cards over the past couple years. They have canceled and replaced my cards many times but it is time consuming in many ways. What I'm looking for (and I don't know if it exists, if not it should) is a card where you can set a dollar amount that if exceeded you would get a text message that requires the card holder to verify the purchase before the purchase goes through. Currently I have a service that does something similar but the text only notifies me of the purchase but does not prevent the purchase from going through if I don't verify with a "Y" or "YES" response. This seems like a no brainer. Home Depot does something like this. When I order something online and my employee goes to pick it up, I get a text message that requires me to reply “Y” to the purchase. It only takes seconds for this process to complete. Anybody know of a CC that offers this service?  Thanks in advance. 

[Brian_Earl_Spilner]

That's odd. Usually chase is trigger happy with the fraud decines. They do send out texts and emails to verify it's a purchase by you if fraud is suspected, but it usually takes so long to get that I just use another card. Find it weird that they keep letting charges go through all the time with all the fraud you report.

[staticvoidmain]

I personally do not know of any credit card that does exactly that. What I would rather do, is stick to lenders that have very good fraud detection. Amex and Capital One come to mind (based on personal experience), and I can't believe I'd say this, but also Synchrony.

I know Amex and Sync have some form of notification at least on certain spend amounts.

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@Brian_Earl_Spilner wrote: That's odd. Usually chase is trigger happy with the fraud decines. 

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I was gonna say the same thing, to the point that I almost do not want to use it outside of my usual usage.

[IntegerIntrovert]

I believe you might be able to use the purchase dollar limit that some cards have to your advantage here.

I think you could set a card to decline anything over $100 or something and just move it up when you're ready to use your card.  

https://www.nerdwallet.com/article/credit-cards/credit-card-spending-limit-for-authorized-users

Best of luck

[cashorcharge]

I have not heard of that specific security feature @Anonymous though an interesting concept.  Sure, you can get ALERTS but that is typically after the charge has been done.

The only suggestion I would give is to use the LOCK Feature on your Chase Card.  You could use the mobile app and it would require you to UNLOCK and then RELOCK the card before and after each transaction made...but that would guarantee you would not get any more random fraudulent charges on your card.  Yes, a hassle...but an option.  The feature is easy, works quick and locking/unlocking is instantaneous

[jmw1]

I think a better idea nowadays is to stick with contactless purchases, Apple Pay, Google Pay, and high volume reputable online vendors (Amazon, Chewy, Best Buy, etc.) that haven't had CC information stolen.   No swipe. No insert card into reader. Never, ever give the waiter your card. For example, I use gasbuddy to look for the cheapest gas. But I would never use the credit card terminals at the pump unless the cheapest gas is contactless like Costco. I use cash for gas pumps without contactless.

[FinStar]

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@cashorcharge wrote:

I have not heard of that specific security feature @Anonymous though an interesting concept.  Sure, you can get ALERTS but that is typically after the charge has been done.

The only suggestion I would give is to use the LOCK Feature on your Chase Card.  You could use the mobile app and it would require you to UNLOCK and then RELOCK the card before and after each transaction made...but that would guarantee you would not get any more random fraudulent charges on your card.  Yes, a hassle...but an option.  The feature is easy, works quick and locking/unlocking is instantaneous

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This ^^^

Similar CCs that offer a LOCK/UNLOCK feature include PNC, Discover, Citi, etc.

[disdreamin]

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@FinStar wrote:

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@cashorcharge wrote:

I have not heard of that specific security feature @Anonymous though an interesting concept.  Sure, you can get ALERTS but that is typically after the charge has been done.

The only suggestion I would give is to use the LOCK Feature on your Chase Card.  You could use the mobile app and it would require you to UNLOCK and then RELOCK the card before and after each transaction made...but that would guarantee you would not get any more random fraudulent charges on your card.  Yes, a hassle...but an option.  The feature is easy, works quick and locking/unlocking is instantaneous

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This ^^^

Similar CCs that offer a LOCK/UNLOCK feature include PNC, Discover, Citi, etc.

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AmEx has a freeze feature that functions similarly, I believe.

[Anonymous]

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@jmw1 wrote:

I think a better idea nowadays is to stick with contactless purchases, Apple Pay, Google Pay, and high volume reputable online vendors (Amazon, Chewy, Best Buy, etc.) that haven't had CC information stolen.   No swipe. No insert card into reader. Never, ever give the waiter your card. For example, I use gasbuddy to look for the cheapest gas. But I would never use the credit card terminals at the pump unless the cheapest gas is contactless like Costco. I use cash for gas pumps without contactless.

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This would only prevent "some"  (I don't know the portion!)  A lot of fraud has been reported on never used or newly issued cards, possibly leaks from the issuers or some partner.

[Anonymous]

Wow! Thanks for all the feedback. I didn't think I'd get that much response.

To add more info to my situation, ALL of the fraudulent activity is from online merchants including Amazon and ebay and most recently Banggood.

I like the idea of using the freeze on and off feature. I don’t currently have the app but I should be able to figure it out. Thanks again. Hopefully this conversation will inspire Chase or Cap 1 or whoever, to offer a feature like this. Getting a text message AFTER the transaction has gone through is almost worthless.