US Bank fraud

[Caught750]

Ugh... I just got my Cash+ card in the mail about 3 days ago. Thankfully got some use on it. While checking balances and such I noticed a 5 cent charge from somewhere I've never heard of in a state I've never been to. After trying to figure out what it was for an hour or two I called US Bank. I was immediately, without asking, transferred to the fraud department and they immediately asked me about the charge. I told them I had no clue what it was. My card has been canceled and after explaining that it was brand new and took over a week to arrive the rep agreed to send it 2 day mail while waiving the standard rush fee.

They seem fantastic so far but anything to worry about US Bank?

[simplynoir]

None at all. I had a similar situation to yours earlier this year where my newly applied AMEX PRG card was already compromised before I had even received the card. They closed the card and sent a replacement and haven't had any issues since. I would only worry if it happens again after a short time again but I find that highly doubtful.

[Caught750]

Great, thanks. I logged in and it said this account has been closed and will be removed from online management shortly. I'm guessing it just means that card. I don't even understand how a card can be compromised so quickly. Everything I've read talks about how great US Bank is so I'd like to grow with them and would hate to see some jerk screw that up.

[iv]

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@Caught750 wrote:
I don't even understand how a card can be compromised so quickly.

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Insider threats in the bank or in their supply chain, for one... or, since you did have SOME use on the card, just a compromise at one of the places you used it (bad timing does happen).

[Anonymous]

No problems here. Have had credit cards compromised before I even activated them ... go figure. US Bank got a call from me on a curious charge I could not relate to and they had the account closed and the charges reversed while I was on the telephone and a new card the next day. Very impressed. Life has been good since.

[Caught750]

Thanks Dinosaur! I've heard of issuers shutting down, and not reopening, accounts for fraud type issues. It didn't make sense and I figured there was more to it. This is my first experience with this type of issue.

[longtimelurker]

Fraud on cards is going to be a growing part of life, and I don't think any issuer is more prone than any other (once you correct for the number of the cards).   Issuers are very used to quickly taking care of it, and will issue a new card without changing anything on the credit report.   So don't over-worry about it.    

And I'm sure that no MyFico person needs to be told, but:   best be honest about what is fraud and what isn't.   A few times I have had a bunch of fairly small fraudulent charges surrounding some of my real charges, some larger than the fraudulent ones.    While it would be tempting to say "Oh no, that charge 2 miles from my mailing address wasn't me.  Yes, it may appear that I've shopped there several times per month on my previous statements, I think they must be fraudulent too..."   probably not  a good idea!