Credit Card Fraud/Theft

[66PonyCar]

A few months ago I had three cards compromised in the span of about two weeks. Of course all the charges were reversed and new credit cards issued. Now I have an alert whenever any amount is charged to my cards. For online purchases CITI Bank allows you to create a virtual credit card number for onetime use. You can set a dollar limit and expiration date on it.

 

[The Heretic]

it amazes me that more businesses don't offer cash discounts

My understanding is that the card issuer does not allow card discounts or charging more for using a CC.

But maybe they can't enforce that very well?

 

[The Heretic]

I got a call from B of A maybe 10 years ago about suspicious activity on a card I don't think I had used since it was issued. It was for a purchase at a subway location somewhere in Mexico. I asked the lady that called how this could happen, she said a lot of it is just random, but once they get one that works, then they go on a shopping spree.

What happens is the thief steals the card info, probably swipes it thru their own personal reader (you can buy them), then sells that info to a person that aggregates the card data with thousands of others and sells that data to another person and so on. Eventually someone somewhere makes a forged card with the data on it, and buys stuff with that card. Or they buy stuff online. That is why many cards now have the chip in them to reduce the likelihood of forging a card with your info.

One way to reduce the theft is to require a PIN to be used - some (most?) cards have this, not many people use it.

 

[Alexx1401]

Wife and I shop almost daily on line. Been a LONG time since I had a problem. It was funny when It last happened as it was in India. I called and was talking to someone in that county. I did not know what the place was by the what they called it. Turns out is was some kind of eatery in the train station in one town there. They of course fixed it. I have the cards I use daily set to alert for large purchases and make sure I look at them for anything every week or so. The food joints has long been a problem. Before the chips they used to sell hand held scanners on places like ebay that would read the magnetic strip. Servers would swipe the card and keep the info. For now an easy way would be to just wipe out the 3 digit verification code. If you shop on line you would need to keep track of it somewhere but places that have the card in hand do not need it. That way if someone snaps a pic of it they will not have what they need to shop online with it. Many cards will also not let you place an order on line and have it sent to another address unless you confirm with them.

 

[Alexx1401]

My understanding is that the card issuer does not allow card discounts or charging more for using a CC.

But maybe they can't enforce that very well?

This has LONG been part of the Terms (TOS) by banks to retailers that they are not allowed to do this. Gun shops have been doing it anyway for decades. The bank could if they wished to, pull the shops ability to take plastic. It's easy to see they do not want to push it so they turn a blind eye to it. I have over the years had many take to the net to scream shops can't do this and get angry. I always tell them its the shops choice. If you want a gun they sell that bad and do not have the cash go to any bank and get a cash advance on your card. Go to store and buy the damn gun. They then of course say but they have to pay to do that. Well the shop does too.

 

[The Heretic]

For now an easy way would be to just wipe out the 3 digit verification code. If you shop on line you would need to keep track of it somewhere but places that have the card in hand do not need it. That way if someone snaps a pic of it they will not have what they need to shop online with it. Many cards will also not let you place an order on line and have it sent to another address unless you confirm with them.

Problem is that this is another number to remember. I have a hard enough time remembering my own phone number or address

 

[The Heretic]

This has LONG been part of the Terms (TOS) by banks to retailers that they are not allowed to do this. Gun shops have been doing it anyway for decades. The bank could if they wished to, pull the shops ability to take plastic. It's easy to see they do not want to push it so they turn a blind eye to it. I have over the years had many take to the net to scream shops can't do this and get angry. I always tell them its the shops choice. If you want a gun they sell that bad and do not have the cash go to any bank and get a cash advance on your card. Go to store and buy the damn gun. They then of course say but they have to pay to do that. Well the shop does too.

When I bought my Husaberg it was $10K.

The shop owner was well liked by the dirt bike community so I asked him if he wanted a CC or a check. He wanted a check. I wrote him one. Small shops like that have a tight profit margin, and $100 makes a difference. I have no problem paying cash or getting a bank check for them when it is a large $ purchase.

 

[bikemutt]

I can't believe with number of CC frauds that goes on that some restaurants (granted these are mainly dive bar/grills, my preferred night out) STILL want you to give them a credit card to put behind the bar. I won't do it. My card stays in my possession. I walk out. I usually go up to the register to pay rather than handing it to the server too.

Every time my cards have been frauded was right after a card left my sight. These days, unless I know the establishment and the server well, not handing a card over if it has to leave my sight.

The one that really taught me the lesson is I took a cab from SeaTac home, handed the cabby the card, he hunched up in the seat and fumbled around so I couldn't see what he was doing. By the end of the day there were numerous fraudulent charges racked up. It's true it's tough to know for sure when it happened, the banks don't seem inclined to talk about it.

 

[Alexx1401]

Problem is that this is another number to remember. I have a hard enough time remembering my own phone number or address

Yep I don't worry about it because the protections are so damn good here in the US. Of course we all do pay for the fraud. I am not going to take the CC code off mine as I don't want to have to keep track of it. For this to really do much good everyone who ever hands their card to others out of their sight would have to do this to slow down the dobads. That's not going to happen but, for those who are worried it would make it hard to someone to snap a photo of the card and then start selling the info or use it to shop. I have always been very cavalier about them because I know they are protected. I stopped using checks decades ago. Use a card as a checkbook. It's far more convenient, excellent protection, and I get cash back for using them.

 

[Alexx1401]

When I bought my Husaberg it was $10K.

The shop owner was well liked by the dirt bike community so I asked him if he wanted a CC or a check. He wanted a check. I wrote him one. Small shops like that have a tight profit margin, and $100 makes a difference. I have no problem paying cash or getting a bank check for them when it is a large $ purchase.

Yep sure as hell does. Last few guns we bought we paid them in cash to get the discount. They have a sign there in plain sight saying and last gun we got it's also on the price tag hanging off the gun. CC+3.5%. So people have a choice. They can pay the shown price or if they want to use their plastic the shop is glad to take it and they pay what the shop pays. I have never understood why this bothers anyone. Many must not be old enough to remember when grocery stores did not take credit cards. They did this because it would cut into the margin too much. It only changed when one large chain agreed to take them. So they all had to start but everyone pays. Forgot till just now but gas stations here have done this for a very long time too. Started out with just a few now I think they all offer cash, or their house card price, and credit price. I never pay attention as I want to pay at the pump so I just pop my card it.

 

[The Heretic]

Many must not be old enough to remember when grocery stores did not take credit cards.

I am old enough to remember when only department stores had credit cards, and it was only for their store - e.g., JC Pennys, Meier and Franks, Sears. Also, as you mentioned, so gas stations. I remember it was a big deal if you had one, then when Bank Americard came out, then Mastercard and Visa and American Express. Now it means almost nothing, everbody has a CC - even people's cats and dogs can get a card.

I have only one CC and one ATM card. The Chase card gives me Amazon reward points for many purchases. My ATM card gives me ~2% interest on up to $25K as long as I have a direct deposit and make 12 POS purchases.

Winco does not take CCs.

 

[JustSomeGuy]

I've never had a fradulent charge on a credit or debit card. Then again, I've never had a credit or debit card. If I need to grab something online, I have local retailers that will do it for me. Of course I pay a fee for that service, but it's well worth it to keep the money local.

 

[Hueco]

My understanding is that the card issuer does not allow card discounts or charging more for using a CC.

But maybe they can't enforce that very well?

Federally, businesses got the right to add a surcharge for using a CC and/or require a minimum purchase amount to use a CC back in 2013. Some states disallow the practice, however, so it becomes a state by state issue.

 

[Alexx1401]

I am old enough to remember when only department stores had credit cards, and it was only for their store - e.g., JC Pennys, Meier and Franks, Sears. Also, as you mentioned, so gas stations. I remember it was a big deal if you had one, then when Bank Americard came out, then Mastercard and Visa and American Express. Now it means almost nothing, everbody has a CC - even people's cats and dogs can get a card.

I have only one CC and one ATM card. The Chase card gives me Amazon reward points for many purchases. My ATM card gives me ~2% interest on up to $25K as long as I have a direct deposit and make 12 POS purchases.

Winco does not take CCs.

Yep I was quite young when I got my first couple major cards and it was impressive to many. I got them by getting a few of those store cards, using them a time or two and of course paying them off. Soon had a Visa and an Amex. When VCR's hit you could buy a decent car for what one sold for so stores used to rent one for the night. You had to have a CC or a huge cash deposit. Couple friends used to ask us to come over so they could rent a movie using our card to get them. Great for us, they paid we just used our card as the deposit
Last credit card I got was from Chase a while back through Amazon. They were constantly trying to get me to take it for the 5% cash back on Amazon stuff. Last laptop I bought Amazon was showing if I applied for the card they would lop off about %40 of the cost of the damn thing. So I finally said hell why not. Entered my info and is less than a minute they sent it through. So now every month I pay the card off and then treat myself to something free off Amazon with the points. Win win for me

 

[cigars]

Go online and lock down/freeze your credit. It's easy and you can unlock it if needed easily as well. Just write down the access codes they give you. Do it for all three credit bureaus. Clark Howard has all you need to know here:

How To Freeze Your Credit With Experian, Equifax and TransUnion

A credit freeze is the best way to protect yourself from identity theft. Here's how to freeze your credit with Experian, Equifax and TransUnion.

clark.com

 

[The Heretic]

I've never had a fradulent charge on a credit or debit card. Then again, I've never had a credit or debit card. If I need to grab something online, I have local retailers that will do it for me. Of course I pay a fee for that service, but it's well worth it to keep the money local.

It's a big deal to me to be able to order something online and have it delivered. Besides the fact that I am an Aspie and hate dealing with people in person (even hate phone calls or answering the door), it takes me a good 30 minutes to drive into town from the mountain, then I need to find someone to do the deal with. I buy thousands of dollars worth of stuff from Amazon - it is just so much more convenient, and if I don't like it I can return it.

The only reasons I buy guns FTF are I have to, and most of them are used, so I need to see it in person. If new guns were close to the price of used guns, and I could just order it online and have it delivered to my house, I would buy it online. Ammo doesn't have that problem - I can buy it online and it is usually cheaper, so I almost always buy ammo online.

 

[The Heretic]

Go online and lock down/freeze your credit. It's easy and you can unlock it if needed easily as well. Just write down the access codes they give you. Do it for all three credit bureaus. Clark Howard has all you need to know here:

How To Freeze Your Credit With Experian, Equifax and TransUnion

A credit freeze is the best way to protect yourself from identity theft. Here's how to freeze your credit with Experian, Equifax and TransUnion.

clark.com

That only stops identity theft, not CC info theft.

 

[Hueco]

Go online and lock down/freeze your credit. It's easy and you can unlock it if needed easily as well. Just write down the access codes they give you. Do it for all three credit bureaus. Clark Howard has all you need to know here:

How To Freeze Your Credit With Experian, Equifax and TransUnion

A credit freeze is the best way to protect yourself from identity theft. Here's how to freeze your credit with Experian, Equifax and TransUnion.

clark.com

Good call. And don't forget to freeze your kid's credit:

Articles

Learn more about freezing your child's Equifax credit report. Help better protect your minor from child identity theft by taking these steps.

www.equifax.com

Child Identity Theft: Protect Your Child's Credit - NerdWallet

A credit freeze for minors is one of the strongest ways parents can protect their child’s personal information and financial future.

www.nerdwallet.com

 

[HighLine]

I personally had my card information stolen when stationed in San Diego years ago. Racked up about $10,000 in fuel charges in Texas and Florida at the same time. Called my bank had everything frozen and new accounts made.

Also reported it to local police department at the time. Turns out enough people reported it and they were able to track down where it was happening based on the common place everyone had shopped. Ended up being at Wendys. They were swiping cards through card readers, storing the information and sending/selling it to whoever.

Ever since then I check my accounts multiple times a day every single day.

Also had a card fraud attempt this morning through the business. Got an online order for a $3,000 scope. Billing address in Colorado shipping address in Texas, system shows email used was only created 10 minutes before the order was placed. Needless to say I did not process the order and reported it to the authorities.

 

[Roundball58]

I've had cards compromised three times now. Its at the point the card company recognizes a suspicious fraudulent transaction, doesn't let it go thru and sends me a text asking "is this a valid charge" . If I say no they freeze the card and send me a new one. Bit of a pain for a couple of days until the new card arrives.