Credit card compromised again! (South Carolina, buy, cancel, immediate)

[sandlines]

This has happened to me twice in the last 20 years or so. Both times, the credit card company called me to verify a suspicious transaction before I even knew it had happened. Also, both times they were quick to remove the charge and send me a new card.

I don't allow "card not present" transactions on any but one card. That includes online transactions. The card that can work online gets alerts for transactions over $100. I have a separate bank account that is used for cash withdrawals and I only keep about $200 in it. That limits what can be taken out should my debit card info get stolen. I rarely need cash anyway so it works. My main bank account debit cards are locked up.

I don't know anyone who has been stuck with a bad charge. Bigger risk is that you don't check your statements carefully and don't realize a bad charge is even there.

[elnina]

Originally Posted by MOforthewin

You should check yours online on a regular basis. A month is a lot of time for fraud to add up.

I have fraud protection (free offer from the banks) and purchase notifications to the phone.
I like to use my two main cards per GPay application where I need to go through quick two-factor verification. The setting is pretty secure.
Wireless and contactless purchases are the best because mobile payments and contactless cards don’t transmit your name, card number, or three-digit security code.
All my cards are stored in aluminum sleeves.

[Blondebaerde]

My AmX Platinum gets compromised every c. 18 months. I really don't care, other than the mild annoyance factor of updating my encrypted utilities that keep all the important stuff locked away. That's AmX's problem. They're good about catching it, I notice, and I can guess how but don't care enough to examine it all that closely. I'm in IT (Cloud apps) not security. The latter is a fascinating discipline with good growth potential...staying a step ahead of dirtbags is a full time job.

By and large, irrelevant to my day-to-day happiness. I keep cash handy for that and other purposes to cover me while it's replaced.

[gamboolman]

Moforthewin,

We have had credit cards compromised alot over the last 43 + years...

Both personal and corporate.

We lived oversea's and had credit cards compromised due International Travel.

I will say though that over the many instances the Credit Card companies handled each case properly and we were never out any monies.

We put extra Security on all our Cards and Accounts - due to living in Africa for so many years and doing much travel thru Europe, etc.

We monitored our Credit Cards and had Alerts set up and also our Bank and Investment Accounts. We were and are to this day very vigilant - even in retirement.

[COcheesehead]

I used to get hacked once a year. I then got a card with a chip. Hasn’t happened since.

[Lowexpectations]

Originally Posted by COcheesehead

I used to get hacked once a year. I then got a card with a chip. Hasn’t happened since.

Having a card compromised and getting hacked aren’t the same thing. Both can pose issues but they are vastly different things

[KaraG]

Originally Posted by MOforthewin

I hear a lot of horror stories about paypal being compromised all the time.

We have multiple PayPal accounts for our businesses, for decades, never had a problem.

[KaraG]

Originally Posted by skeddy

Anybody ever left to pay for purchases made with a compromised card? Anybody? When I lost my wallet and contacted the credit card companies they could have cared less I lost my card. Their only interest was in overnighting me a new card.

Well, if someone uses a stolen credit card to purchase something from my business, my business takes the loss. The bank refunds the customer, they take back the money from me (chargeback) and I'm out the money and the merchandise. Plus they charge me $35.

Thank goodness I'm in a business that doesn't attract criminals too often.

[mathjak107]

The credit card companies do have programs you can join for a bigger fee that will cover card not present transactions like web orders ….

The price is to much more per charge if you don’t do a lot of web sales .

As long as the card was present they cover us but any phone sales we do has us on our own if the card is bad

[1200RT]

Originally Posted by skeddy

Anybody ever left to pay for purchases made with a compromised card? Anybody? When I lost my wallet and contacted the credit card companies they could have cared less I lost my card. Their only interest was in overnighting me a new card.

I think you're making a point / being sarcastic - but unless there is serious doubt about legitimacy of the fraud, FCBA is extremely protective of the consumer. Much more so than debit cards.