Credit card # hacked

[Carson Dyle]

Man, I must be living a charmed life. I've been using debit cards for more than 25 years and have never had a problem reversing an unwarranted charge. AND I've been using autopay for gas, electric, cable, phone and other monthly bills and have never been mistakenly billed.

 

[alkemyst]

So these people spent every cent they earned in the mall's food court? Sounds like they'd be better off not working at all.

Lesson: If you live hand to mouth, don't use a debit card.

That's Åwesome...however; many working retail and young can't get credit cards.

There is more risk in carrying cash daily at that age.

To explain this to you though since you must be a moron, they had their debit cards scanned then sold. They didn't spend every cent they had just buying their lunch or dinner. Credit fraud though insured that happened.

For many of them they just ordered a $1 item.

 

[alkemyst]

Man, I must be living a charmed life. I've been using debit cards for more than 25 years and have never had a problem reversing an unwarranted charge. AND I've been using autopay for gas, electric, cable, phone and other monthly bills and have never been mistakenly billed.

You don't get out much. I can guarantee that.

 

[alkemyst]

Long ago I began keeping a stash of cash hidden in my car. I always have access if it's needed. And even covers me if I forget my wallet at home. No need for a debit card.

Some autopays are good, like the credit card bill. They don't withdraw if you don't have an outstanding bill with them.

Yeah mad stacks of cash in a car is a great way to do this?!?!

 

[Carson Dyle]

You don't get out much. I can guarantee that.

Because getting out more would make me more susceptible to autopay mistakes and would make my bank shittier to deal with?

HUh???

 

[alkemyst]

Because getting out more would make me more susceptible to autopay mistakes and would make my bank shittier to deal with?

HUh???

You don't understand LIFE.

 

[Carson Dyle]

You don't understand LIFE.

No, I apparently don't understand your view of a very small aspect of it.

 

[akugami]

Now, here's the scary part, there are a handful of malware that is specifically targeting POS systems. There are the Dexter, Project Hook, Alina, ChewBacca, JackPoS and VSkimmer POS malware to name some of the more prominent ones. Then there are the credit card skimmers so if you're using your card at a gas station, be careful.

An encrypted MSR (magnetic stripe reader aka credit card swiper) can defeat most of these malware but most MSR's are unencrypted. You can literally open up notepad on one of these, swipe a card and see the full card data which includes cardholder name, card number, and exp date. Won't help you from a skimmer though.

As for debit vs credit cards, credit cards are much safer. There's more protection and less hassle if fraud does occur.

 

[cubby1223]

Yeah mad stacks of cash in a car is a great way to do this?!?!

It's a very small amount, certainly not enough anyone would ever break in for. My job has me driving all over the place, and once I forgot my wallet in the morning, couldn't get any lunch that day. And it occurred to me, what if I had needed a gas fill-up and was too far away from home? (and this was before the days that everyone owned a cell phone for me to call)

Now I never have to worry. I only have to make use of the cash maybe once or twice in a full year, and when I do I'm thankful for it.

 

[JEDIYoda]

why do people get all uptight about this all the time? Nearly all banks these days limit your liability on debit card fraud in exactly the same manner as credit cards.

exactly!!

 

[JEDIYoda]

Because legally they don't have to and there is nothing stopping them from saying it was your fault and not getting any of your money back.

bUT THEY DO....some your point about legalities is moot!!

 

[JEDIYoda]

And you'll be out your $$ for 10 working days while they investigate. When the daycare got hacked, it was for $4K.

Ummm...no......my bank will do an immediate charge back to my account WITH THE UNDERSTANDING THAT amount could change...

 

[JEDIYoda]

Every bank and credit union I've banked with in the last probably 20 years. Why is this even an issue to discuss? Do you just like being wrong or something?

same here......

 

[JEDIYoda]

Did you intestinally leave off this part...

"for signature-based transactions, provided cardholders promptly notify their issuer of such fraud, theft, or unauthorized purchase."

That is only for when people use a debit card like a credit card. If a PIN number is used then the "*" part comes in.
Now lets see what the * says...
"Does not apply to ATM transactions, certain commercial card transactions, PIN or other transactions not processed by Visa. "

So there ya go, no coverage in many cases.


Quote:
Originally Posted by SunnyD
Every bank and credit union I've banked with in the last probably 20 years. Why is this even an issue to discuss? Do you just like being wrong or something?

Actually you made the claim, and as you can see Debit Cards do not have the same protection as Credit Cards.

I am sorry to hear that the financial institutions that you deal with are 20 years behind the times!!

You can quote all you want but the fact is that most VISA credit or debit cards are covered!
Over the years I have banked with 4 different banks and never ever had a problem......

 

[JEDIYoda]

If you use it as a Debit card it goes through there bank. If you use it as credit card it goes through Visa first.

Do you even know how Debit cards work? Notice the "PIN" part, the pin makes it a debit charge not a CC charge.

PIN or no PIN makes no difference......so sorry!!

 

[JEDIYoda]

go through pretty much any bank's account terms and you'll find there's a limitation of liability on fraudulent transactions on the bank account itself, not associated with the debit card logo. Yes, i'm not speaking for all banks, but probably most, because you know - they like having customers. Generally they limit customer liability when promptly reported to something like the first $25 to $50 of monies fraudulently used. Sure, it's not $0, but still. And yes, that covers atm/pin style transactions.

Yes, you'll probably have one or two stupid backwater banks that will not cover a penny, and well they probably don't even know what a debit card is. So that's not even an issue. Short answer: No bank worth a shit isn't going to have some sort of liability coverage on customer accounts including debit card protection these days. If you happen to be a customer at one of those banks that don't, you probably ought to find a new bank (which shouldn't be terribly difficult).

Okay, so are we done here now?

exactly!!

 

[JEDIYoda]

No, the laws just differ. But as the poster above said, many banks treat them the same and will offer the consumer the exact same level of protection on a debit card as a credit card.

Let say all banks except for your backwater hole in the wall banks...

 

[JEDIYoda]

But the underlying problem is, you really don't know the full extent of the protection you have and the ease to obtain it, until there is a problem and need to use the protection.

There is no underlying problem! Credit or debit your covered!

 

[JEDIYoda]

Disastrous things can go whacky when money goes missing from your account.

Back in my college days, I submitted a check for the semester's tuition. I had plenty of cash in the account to cover it. But for some reason the bank decided to send the check back to the college after transferring funds. The college then attempted to submit the check a second time.

I didn't have enough cash to cover twice the tuition. And I had two checks out to two credit cards. One of them hit the same day the tuition check ran through the 2nd time. Now I have bad check fees racking up. Interest racking up. All the while I'm trying to sort out what happened, the college is threatening me with fees and even dropping my courses. The credit card company is pissed off, and wanting their additional fees paid.

Lots of collateral shit can happen with missing funds from a bank account that you don't realize until it happens to you.

I don't use a debit card, don't ever want a debit card. I don't care what the text says in their agreement terms.

Exactly how much collateral damage will your bank cover if your debit card goes stolen?

Sounds like you went to a messed up college....to be honest if that word is in your vocabulary that was what 1 out of how many thousands of transactions.....

 

[JEDIYoda]

You can say a debit card will give same protection, but the credit card must give you that protection. About twice a year for the last 4 years I've had the CC call me about a questionable transaction they've halted or want me to confirm. After a minute on the phone no charges ever applied against m account and a new card on the way.

About 8 years ago had a charge applied on the debit card, after a very long phone call, a drive to the bank, filling out an affidavit, having another long phone call after the affidavit was filled and reviewed by the bank, and then about another week of waiting the money was finally deposited back to the bank account. Debit card hasn't been used since.

Again you probably use some backwater bank......I have never had a problem ever credit or debit that the bank did not immediately cover and add my money back to the account in 24 - 48 hrs....

 

[cubby1223]

Sounds like you went to a messed up college....to be honest if that word is in your vocabulary that was what 1 out of how many thousands of transactions.....

I went to a fine college, consistently ranked in the top 10 in the nation for engineering. That time was 13 years ago, and my memory isn't perfect. The college was understanding once I went over to talk to the department in person. But it happened, and there was collateral damage and expenses caused by the mistake, just like there is collateral damage and expenses caused by fraud.

I notice you make no argument towards the actual content of my story. When a credit card is declined, the company simply asks you for another card. When a check is declined, now you've got problems with that company. And when that company is a credit card company, that is a ding on your credit rating. Will your bank work for you to correct that ding if it happens to you? I don't see it spelled out in the contractual agreement.

The bottom line is I don't need a debit card, so why should I even play the percentages of having one?

 

[Muse]

It's a very small amount, certainly not enough anyone would ever break in for. My job has me driving all over the place, and once I forgot my wallet in the morning, couldn't get any lunch that day. And it occurred to me, what if I had needed a gas fill-up and was too far away from home? (and this was before the days that everyone owned a cell phone for me to call)

Now I never have to worry. I only have to make use of the cash maybe once or twice in a full year, and when I do I'm thankful for it.

I'm in the habit of stashing some cash in my car in a place it's unlikely to be found unless someone rifles the whole thing. I've never tapped it. Sometimes do similar in a backpack, "just in case" money as you say and I totally understand where you're coming from. I've forgotten my wallet a few times, plus there's always the times when your wallet cash is low for some reason (forgot to replenish). I don't stash a large amount, an enough amount. Plus, I live in earthquake country, the whole area could be in a shambles in 5 minutes, my house could be in ruins or burned to the ground, that cash in my car could come in ever so handy in that scenario. Ridiculous? Not really.

 

[alkemyst]

No, I apparently don't understand your view of a very small aspect of it.

You are wholeheartedly ignorant if you do not understand the fact that MANY out there can not qualify for a credit card.

 

[Muse]

You are wholeheartedly ignorant if you do not understand the fact that MANY out there can not qualify for a credit card.

Boy, do I know. For many years I was refused a CC every time I applied for one. Now, I'm never refused. They wouldn't give me one because I didn't have a credit history. It's kind of a catch 22. I had nothing bad on my credit score, if you could call it that, but I had virtually no history, so... Finally, I got a card, have been a stellar customer. I always use autopay, never pay interest.

I applied and was instantly approved today for a Capital One Quicksilver card. It should arrive in 7-10 business days. Figure it for a good one for my autopays. Actually, I think I'll set up autopay on my 1.1% Chase Freedom because my autopays probably won't total as much as other charges, which I can make to the 1.5% Capital One card. I'll have to rummage through my statements before I decide.

From now on my autopay card will not be used for day to day purchases, it will be for autopay only. If someone gets ahold of that number I have to think it was one of the autopay folks who had their data hacked.

 

[highland145]

^^
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