Excessive fraud on Chase?

[K-in-Boston]

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@Revelate wrote:

Since getting my Tesla and no more use at gas stations I haven't had a single card fraudulently used, and since my Chase cards were getting swiped at them, that was where it landed nearly 100% of the time.  I also have tighter online security now too with the layer of abstraction that Apple Pay / Pay Pal / Amazon Pay offer and that probably makes a difference as well.  It's very rare that I'm actually presenting my credit information anywhere anymore other than to those entities, I have had one fraudulent use from when Official Sports got compromised and that was my default spender too.  Frankly default spender used all over the place seems to be the big risky card and if it's a Chase FU, well...

Chase hack would make national headlines, same with BOFA or Citi or others, hasn't happened yet to my knowledge.  

ETA: Didn't see K's post but I mostly moved to online refills of BART cards for when I was in the Bay Area, that probably decreased the fraud risk around my CSR use, but companies have long since moved as a result of PCI compliance to token passing than individual card numbers transiting the networks.

Other than sit down restaurants which I haven't been to in, well, a while now, there just isn't much swiping going on.

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Oops, in hindsight my sentence wasn't too clear.  I didn't mean my card was compromised because of me using it all over.  When I typed "Seems like my card got cloned because it was being used to pay for dinners, gas, and public transit monthly passes all over Boston."  - ALL of the fraudulent charges were made at restaurants popular with students, gas stations just north of the city, and a T station (it was two $90 transactions minutes apart, so those were almost certainly monthly subway passes). 

I still do a fair amount of swiping, but I have no concerns with using my cards.  I've been fortunate enough to only have fraudulent transactions a handful of times over all of these years, and they were always quickly taken care of.

[wasCB14]

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@Aim_High wrote:

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@wasCB14 wrote:

Have others found their Chase card info gets stolen with suspicious frequency, adjusting for the number of cards a person has and how much use they get? That's been the experience in my family for the last several years. With other issuers it has been very rare, but with Chase it's quite common.

How often can Chase be getting hacked? And if that's not it, then what?

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I don't think there is any hacking going on with Chase.  They issue a lot of cards, they're the biggest bank in the USA by a wide margin, and they're a big target for theft.  

I don't know but I'm guessing that people who steal credit card accounts may think that, as a huge bank, that Chase issues higher limit cards that stand a better chance of absorbing any fraud charges, even though from my experience their limits are typical for most people.  Or maybe that the shear volume of transactions may make it more likely that one fraudulent charge will slip through unnoticed. 

In my experience, I've had fraud on numerous accounts including not only Chase but also Discover, American Express, Capital One, and UMB.  My fraud with Chase has been typical in reference to my overall accounts and overall fraud incidents.

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That got me thinking...we're still in Chase's records as wealth management clients...which generally means higher limits. It's possible someone on the inside could be selling card info from that subset of customers.

[simplynoir]

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@K-in-Boston wrote:

On the other hand, definitely agree that fraud texts can be a little delayed and can be a bit too sensitive.  Even within a few hours of home, if I don't set travel notifications for that state I will get declined at the pump when gas is a 5x category on Freedom.  Fortunately I have never had the fraud declines when making other purchases.

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I hope their travel notifications have improved in that regard. Even if it was awhile ago the declined transactions during my Japan trip with Chase being notified beforehand and even during have would still make me twitchy to use them for travel

[PullingMeSoftly]

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@wasCB14 wrote:

How often can Chase be getting hacked? And if that's not it, then what?

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Chase issue occurred for me last month, when some fraudulent charges for Amazon were put on my debit card. The strange thing is, when I opened a checking account and received the brand new debit card several months before, I immediately SD'd it and never used it for anything. It's never seen sunlight and I've never used the card number for anything. How on earth could anyone get the card number? Well, I think it was internal at Chase.

[Anonymous]

Fortunately I've not had any experiences like this, my issue is the text alert when using said card. If it arrives before i get tired of waiting and sue another card, that would be nice. So in a sense I do like the idea of GPS signaling the cars issuer you're there too. Or at least figure out a way to send you an in app messege where you simpply have to respond "yes" to is it me.

This doesn't happen all the time, and usually during online transactions and it's taken care of fairly quickly. For trip abroad I tell them ahead of time, so i hope to not experience declines for fraud that far away from home.

[VPExecutive]

There's isn't a financial institution I trust more than Chase when it comes to fraud. While other FI's sit there and hold the replacement money from you while they conduct their investigation, Chase will have a temporary credit back into your account by the next business day before they are done investigating the issue. The last thing I want is to worry about a drained bank account while rent is due in 3 days, while the bank takes 7-10 to refund the money. 

There are just some institutions I trust to do tasks more than others. This week I tried to dispute a transaction at a small local credit union where I live... They have excellent customer service but still gave me the run-around. With AMEX, I can do it online and the process will be more thorough. 

[Gmood1]

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@PullingMeSoftly wrote:

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@wasCB14 wrote:

How often can Chase be getting hacked? And if that's not it, then what?

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Chase issue occurred for me last month, when some fraudulent charges for Amazon were put on my debit card. The strange thing is, when I opened a checking account and received the brand new debit card several months before, I immediately SD'd it and never used it for anything. It's never seen sunlight and I've never used the card number for anything. How on earth could anyone get the card number? Well, I think it was internal at Chase.

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@PullingMeSoftly 

That's exactly what I believe happened in my case as well.

It's tough to get the numbers if I haven't swiped the card.

That leaves either hacking systems or someone on the inside stealing CC numbers and selling them.

I'm thinking someone stole them and sold them on the dark web.

@VPExecutive 

Citi does the same. Within two business days a credit will show in the account.

[FlaDude]

My family members and I have a good number of Amex and Chase cards, and a sprinking of others. If anything, over the past 20 years or so, I think we've seen issues with Amex cards compromised a little more than Chase, but overall haven't really noticed the problem being significantly more prevalent with any particular issuer.

[Aim_High]

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@Anonymous wrote:

My wife and I eat out a lot. Our Reserve card number gets stollen periodically. In the US, restaurants are a big source of stollen card numbers.

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^ ^ ^  This ... I think is part of the problem.   My CSR has gotten a lot of restaurant swipes without compromise in two years (knock-on-wood) but I'm pretty sure it happened on some other cards in restaurants.  Some restaurant servers can make copies of the card after they take it at a sit-down restaurant.  It's so easy to do today with smart phones and electronic payments too.  It was harder when someone had to take physical rubbings of a credit card and before it became so easy to put payment information into a computer instead of with a physical card.

[Aim_High]

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@Gmood1 wrote:

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@PullingMeSoftly wrote:

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@wasCB14 wrote:

How often can Chase be getting hacked? And if that's not it, then what?

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Chase issue occurred for me last month ... It's never seen sunlight and I've never used the card number for anything. How on earth could anyone get the card number? Well, I think it was internal at Chase.

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@PullingMeSoftly 

That's exactly what I believe happened in my case as well.

It's tough to get the numbers if I haven't swiped the card.

That leaves either hacking systems or someone on the inside stealing CC numbers and selling them.

I'm thinking someone stole them and sold them on the dark web.

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@Gmood1  @PullingMeSoftly  I just had this happen also but it was with a medical flexible spending account card.  My company just partnered with a new outside provider this year who manages those accounts for multiple corporations, so they issued me a new card.  Mine was still in the envelope after I opened it and I never even activated it.  Five months later, that card number was used for charges at a medical office in New York.  I live in Texas.  That's been harder to reconcile than any credit card frauds I've had, enough to make me think the hassle and risk is not worth the tax savings of it all.   And that's very annoying.