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Old Yesterday, 03:24 PM
 
34,924 posts, read 42,149,251 times
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Saw a news story the other day about a guy who had his credit cards stolen and within a short time the crooks had emptied his bank accounts of $20,000 his take on the situation was to advise people to end that swipe feature. how do you accomplish this? I'm thinking if you want to use my credit card you gonna need a password.

Last edited by jambo101; Yesterday at 03:35 PM..
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Old Today, 01:56 AM
 
34,924 posts, read 42,149,251 times
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Called the bank (CIBC) to inquire and guess what,you cant disable the swipe feature as its built into all their credit and debit cards. They said if you suspect criminal behaviour they will cover the cost..
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Old Today, 10:21 AM
 
Location: Vallejo
14,212 posts, read 16,345,614 times
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Fake story is fake.

There's now way to empty a bank account of 1 cent with a stolen credit card. Credit cards just aren't bank accounts. If he had his debit card stolen, yeah. They'll still put the money back in but there they have to put it back in. It's a bigger hassle than using a credit card as the money never comes out. Your bank should be able to put a limit on your debit card, mine is $400/day, and don't use it unless you're at an ATM or have to because it's somewhere that doesn't take credit.
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Old Today, 10:44 PM
 
Location: Somewhere in northern Alabama
18,183 posts, read 54,942,371 times
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Quote:
Originally Posted by jambo101 View Post
Called the bank (CIBC) to inquire and guess what,you cant disable the swipe feature as its built into all their credit and debit cards. They said if you suspect criminal behaviour they will cover the cost..
Not only can't you disable chip features, you can be denied access to your account at out of state stores that don't use a chip reader and enter info manually. Don't say that is crazy, It happened to me with BOA at a store 20 miles from me - one that I had a history of using with the card as payment. Their reader link happened to be down that day. I filed a complaint with customer service and stopped using the card for a year to put a cross on the t (for all the good that does). That is just one reason to have multiple credit cards.

I no longer use the online account access with credit cards, instead paying by phone and getting paper bills. When a statement comes in from a CC company or bank, I look it over right then on the way back from the mailbox. Fraud protection is based on the consumer CHECKING their bill to verify that the purchases are correct. If you just blindly pay your bill, or autopay it, you can end up with much more of a hassle saying "this charge wasn't made by me."
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