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Credit card fraud

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Contributor

Re: Credit card fraud

I had a simular situation. When climbing into bed I received an alert from cap1. My purchase at redbox video was declined because my card was locked. They alert in real time. I ABSOLUTELY LOVE THE LOCK FEATURE. It will prob wind up on most cards at some point. You know at an INSTANT, and shut the card down. Some banks are now doing that on debit cards. It saves you the trouble. Not sure why more dont have it. It would save them tons of claims.
Message 11 of 31
Community Leader
Super Contributor

Re: Credit card fraud

Thanks for sharing OP. Definitely something good to be aware of.
GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 804
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

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Message 12 of 31
Super Contributor

Re: Credit card fraud

It's so weird that they would risk burning a good card for a Netflix subscription. I would think that would be more likely to be done by someone I knew rather than a thief on the internet. It's just not a big enough payoff. 

It's crazy how well it was handled though. Bravo for AMEX!

 

Credit card fraud is one of the things that worries me the most. I actually have been making virtual credit card numbers using Capital One's Eno tool when I order things online if PayPal or Amazon aren't an option for payment. My credit card only ever gets physically swiped at the grocery store and I have notifications turned on for every card I have that supports them. If someone wants to commit fraud with my accounts, I'm going to shut it down as quickly as I possibly can. 



01/2019:
12/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 13 of 31
Established Contributor

Re: Credit card fraud


@Saeren wrote:

It's so weird that they would risk burning a good card for a Netflix subscription. I would think that would be more likely to be done by someone I knew rather than a thief on the internet. It's just not a big enough payoff. 

It's crazy how well it was handled though. Bravo for AMEX!

 

Credit card fraud is one of the things that worries me the most. I actually have been making virtual credit card numbers using Capital One's Eno tool when I order things online if PayPal or Amazon aren't an option for payment. My credit card only ever gets physically swiped at the grocery store and I have notifications turned on for every card I have that supports them. If someone wants to commit fraud with my accounts, I'm going to shut it down as quickly as I possibly can. 


Green above might be happening more because of red above.

 

Cards get shut down so quickly now, that the best that some can do might be small sneaky monthly charges. Text alerts and account locks from the app is putting a lid on how much they can get and how quickly.

Scores, HPs/24 mos.:
    Experian FICO Score 8 = 847, 2/24
    TransUnion = 839, 0/24
    Equifax = 839, 0/24

Cards (hover over for CL & interest rate):

Total CL: $238,000
Message 14 of 31
Mega Contributor

Re: Credit card fraud


@CardNut wrote:

@Saeren wrote:

It's so weird that they would risk burning a good card for a Netflix subscription. I would think that would be more likely to be done by someone I knew rather than a thief on the internet. It's just not a big enough payoff. 

It's crazy how well it was handled though. Bravo for AMEX!

 

Credit card fraud is one of the things that worries me the most. I actually have been making virtual credit card numbers using Capital One's Eno tool when I order things online if PayPal or Amazon aren't an option for payment. My credit card only ever gets physically swiped at the grocery store and I have notifications turned on for every card I have that supports them. If someone wants to commit fraud with my accounts, I'm going to shut it down as quickly as I possibly can. 


Green above might be happening more because of red above.

 

Cards get shut down so quickly now, that the best that some can do might be small sneaky monthly charges. Text alerts and account locks from the app is putting a lid on how much they can get and how quickly.


I wonder how widely alerts are used in the wider world though, among those not so excited by credit products.   But still seems way too little reward for the risk.  (What's that, I hear all those MyFicoers going on about "Free money" even if it's only $10.   Must be one of them!)

Message 15 of 31
Super Contributor

Re: Credit card fraud


@JSS3 wrote:
I didn't know CCC would go back 6 months when crediting. I would've assumed they'd feel it was a lie(and harder to prove) since it went on so long.

I get the whole inconspicuous blending charge because it's reoccuring, but if I were a rep, I'd feel the card holder wanted the subscription for half a year for free suddenly alleging fraud. I'd also think the CCCs expect each account holder to be diligent by checking on their accounts.

I admittedly overthink thinks so would've talked myself out of calling for said reasons. Then I would've had to eat the charges.

Again, this is good to know.

Except when the card holder already has a netflix membership that they pay for with a different credit card and have had it for over a year. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 16 of 31
Super Contributor

Re: Credit card fraud


@RealityBites wrote:

@FortifiedHM wrote:

 

I read somewhere most credit card numbers are stolen and are already somewhere on the internet. So its probably just a matter of time this will happen to everyone.


I was hit in August, on a card that had never leaves my house. When they were through with everything I ended up with a $65 credit on the account. These guys sure didn't start small!

 

I had a chase card where someone did over 4k in a single charge while I was out of the country. I was furious with chase because I was using that same card in a foreign country to pay for hotel stays both before and after this specific charge in the US which occured in a state I didn't even live in. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 17 of 31
Established Contributor

Re: Credit card fraud


@red259 wrote:

@RealityBites wrote:

@FortifiedHM wrote:

 

I read somewhere most credit card numbers are stolen and are already somewhere on the internet. So its probably just a matter of time this will happen to everyone.


I was hit in August, on a card that had never leaves my house. When they were through with everything I ended up with a $65 credit on the account. These guys sure didn't start small!

 

I had a chase card where someone did over 4k in a single charge while I was out of the country. I was furious with chase because I was using that same card in a foreign country to pay for hotel stays both before and after this specific charge in the US which occured in a state I didn't even live in. 


You were furious with Chase over fraud that they didn't commit themselves?

Scores, HPs/24 mos.:
    Experian FICO Score 8 = 847, 2/24
    TransUnion = 839, 0/24
    Equifax = 839, 0/24

Cards (hover over for CL & interest rate):

Total CL: $238,000
Message 18 of 31
Frequent Contributor

Re: Credit card fraud


@CardNut wrote:

@red259 wrote:

I had a chase card where someone did over 4k in a single charge while I was out of the country. I was furious with chase because I was using that same card in a foreign country to pay for hotel stays both before and after this specific charge in the US which occured in a state I didn't even live in. 


You were furious with Chase over fraud that they didn't commit themselves?


He was furious that Chase didn't prevent it, with the data they had.

 

I always worry about fraud too, though I haven't had any actual occurrences in some time now (crossing fingers I don't jinx myself).  All my cards have notifications turned on for the minimum allowed amount ($0.01 to $1 depending on issuer).  Chase notifies immediately when a swipe occurs, which is great.  If I were to get a notification when I haven't made a purchase, I can act on it right away (unless I'm sleeping or my phone is off).

 

BoA, on the other hand, doesn't notify me until 2-3 days later, which is annoying.  Additionally, the text only shows the amount and the date, no other details.  I had one this morning and I had to log in to remember what the charge was for.  A fraudster could run the card up and move on long before I get a single text from them.  My solution there, my BoA card has a $500 limit, so they won't get very far on a shopping spree.  It's the only card I'll use in gas pumps as well for that reason.

 

Gardening starting 8/1/19
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FICO 8 Scores: 09/2019: 10/2019: +19 -33 11/2019: +12 +21
Message 19 of 31
Established Contributor

Re: Credit card fraud


@DivorcedAndBroke wrote:

@CardNut wrote:

@red259 wrote:

I had a chase card where someone did over 4k in a single charge while I was out of the country. I was furious with chase because I was using that same card in a foreign country to pay for hotel stays both before and after this specific charge in the US which occured in a state I didn't even live in. 


You were furious with Chase over fraud that they didn't commit themselves?


He was furious that Chase didn't prevent it, with the data they had.

 

I always worry about fraud too, though I haven't had any actual occurrences in some time now (crossing fingers I don't jinx myself).  All my cards have notifications turned on for the minimum allowed amount ($0.01 to $1 depending on issuer).  Chase notifies immediately when a swipe occurs, which is great.  If I were to get a notification when I haven't made a purchase, I can act on it right away (unless I'm sleeping or my phone is off).

 

BoA, on the other hand, doesn't notify me until 2-3 days later, which is annoying.  Additionally, the text only shows the amount and the date, no other details.  I had one this morning and I had to log in to remember what the charge was for.  A fraudster could run the card up and move on long before I get a single text from them.  My solution there, my BoA card has a $500 limit, so they won't get very far on a shopping spree.  It's the only card I'll use in gas pumps as well for that reason.

 


Chase is on the lookout whenever there is fraud. All of them are. It's their money at stake. I like the text alerts, because I too get texts for purchases I didn't make, and was able to stop it with only 1 charge going through. 

 

Yes, BoA's texts come days later. It throws me off seeing a purchase come up at 6AM, but when I see BoA, I don't really pay attention. But BoA also sends you alerts when they see fraud. I've gotten them once. Text says FRAUD ALERT. Reply Y if the charge is your's or N if it is not. Send N, and then they shut your card down. It's pretty effective. Two charges got through.

 

No need to worry at all. I think its funny when I get them. Fast food charges, gasoline, Tractor Supply Co. C'mon, get something good. I shut the card down right away, and then see what happens. And you get a shiny new object in the mail 1-3 days later, except for updating recurring charges and Google Pay, etc. 

 

When it becomes worrisome is when you don't report it when you know its happening and they don't. But you got all the time in the world to report it. You're not responsible if you report it within 60 days lol. But that's really for the days of paper statements.  We get access to our accounts instantly now, not up to 59 days before the last statement cut and when the next one is mailed to you and don't open it until 3 weeks later to pay it, and find out something's fishy.

 

Scores, HPs/24 mos.:
    Experian FICO Score 8 = 847, 2/24
    TransUnion = 839, 0/24
    Equifax = 839, 0/24

Cards (hover over for CL & interest rate):

Total CL: $238,000
Message 20 of 31
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