Does it matter if a company is hacked and Hackers get your credit card info?

[JEDI]

when an unauthorized charge showed up on my credit card, I called up the credit card company to report it.

I'm not responsible for the charge, they closed my acct and issued me a new charge card.
painless. took like 5min.
I also have other credit cards I can use in the meantime.

now if you're stupid enuf to use a debit card...

 

[SunnyD]

when an unauthorized charge showed up on my credit card, I called up the credit card company to report it.

I'm not responsible for the charge, they closed my acct and issued me a new charge card.
painless. took like 5min.
I also have other credit cards I can use in the meantime.

now if you're stupid enuf to use a debit card...

Then you call up your bank and do the exact same thing you just did with your credit card.



We've been over this before.

Now if you have a shitty bank, that's your own damn fault.

 

[MustISO]

Credit card fraud is not that big of a deal for the victim, the CC company takes care of everything. All that lost income does affect the consumer at some point, the CC company is going to pass that loss along.

Identity theft could be a much bigger issue, that can really ruin a persons credit and can take months or years to resolve.

 

[rsbennett00]

Credit card fraud is not that big of a deal for the victim, the CC company takes care of everything. All that lost income does affect the consumer at some point, the CC company is going to pass that loss along.

Identity theft could be a much bigger issue, that can really ruin a persons credit and can take months or years to resolve.

That's the big problem, specially for those of us that are famous.

 

[Golgatha]

Then you call up your bank and do the exact same thing you just did with your credit card.



We've been over this before.

Now if you have a shitty bank, that's your own damn fault.

Even with a "good bank" there's a decently long lag period before you'll see your money again and there's really little incentive for the bank to hurry the process along. I'd rather someone else's money be stuck in limbo personally.

 

[rsbennett00]

Even with a "good bank" there's a decently long lag period before you'll see your money again and there's really little incentive for the bank to hurry the process along. I'd rather someone else's money be stuck in limbo personally.

If the lag is more than five seconds, it's not a "good bank". That's literally the definition.

 

[SunnyD]

Even with a "good bank" there's a decently long lag period before you'll see your money again and there's really little incentive for the bank to hurry the process along. I'd rather someone else's money be stuck in limbo personally.

If by decently long you mean "until I get off the phone with them"...

That's been my experience with BofA.

 

[Zee]

identity theft is the problem. its not that they steal your cc. it's that they make a new one

 

[JEDI]

identity theft is the problem. its not that they steal your cc. it's that they make a new one

whats associated w/stolen credit card info that u used at a store?
your name? maybe your addr?

anyone can get your name/addr from a phone book.

certainly your social security # is not on the magnetic strip on the back of your credit card?

 

[Capt Caveman]

Yarjt

 

[Jeffg010]

Even with a "good bank" there's a decently long lag period before you'll see your money again and there's really little incentive for the bank to hurry the process along. I'd rather someone else's money be stuck in limbo personally.

BS my bank PNC put the money back in my account while I was on the phone with them. Also they called me when they saw the bad transaction. Your CC call you when you had a bad transaction?

 

[NikolaeVarius]

BS my bank PNC put the money back in my account while I was on the phone with them. Also they called me when they saw the bad transaction. Your CC call you when you had a bad transaction?

They call me about 5 minutes after any strange transaction.

 

[KeithTalent]

They call me about 5 minutes after any strange transaction.

Same.

KT

 

[Jeffg010]

They call me about 5 minutes after any strange transaction.

Who is your CC? But saying a debt card does not have the same protection as a CC is total BS.

 

[NikolaeVarius]

Who is your CC? But saying a debt card does not have the same protection as a CC is total BS.

I have 4. But the one that contacted me was citicard. Used my CC once in a different state from where I live. Got a phone call 5 minutes later asking if I used my card.

 

[Zee]

whats associated w/stolen credit card info that u used at a store?
your name? maybe your addr?

anyone can get your name/addr from a phone book.

certainly your social security # is not on the magnetic strip on the back of your credit card?

i dont think it's the cc. like it's not mastercard or visa. it's like target. when you fill out all the info to apply for a target card for example, they get all the application info which may or may not include ssn that is ciphered and salted.

I dont think anyone cares about dairy queen except for those who never look at their statements. which is probably alot. so probably alot of people should care.

 

[stlc8tr]

Some cards I don't care about. Other cards I have auto-payments setup on so it would be a bit of a hassle to change those over. Like at the gym, where you have to do it in person as there's no online way of doing it.

 

[rsbennett00]

Some cards I don't care about. Other cards I have auto-payments setup on so it would be a bit of a hassle to change those over. Like at the gym, where you have to do it in person as there's no online way of doing it.

Erm? You're gym doesn't have an online presence? And that's acceptable?

 

[Schfifty Five]

when an unauthorized charge showed up on my credit card, I called up the credit card company to report it.

I'm not responsible for the charge, they closed my acct and issued me a new charge card.
painless. took like 5min.
I also have other credit cards I can use in the meantime.

now if you're stupid enuf to use a debit card...

Sure it matters. If hackers get CC info and make fraudulent purchases, then those stores and/or the CC company lose money and end up increasing prices or fees. If their insurance covers it, then the insurance companies raise their rates and then stores and/or CC companies raise their prices/fees. It all trickles down to the end-user/buyer.

Also, even if you don't experience any of the above, that's still 5 min you didn't have to spend, and however many days to wait for a new card, and maybe even some credit report problems.

 

[uclabachelor]

Credit card fraud is not that big of a deal for the victim, the CC company takes care of everything. All that lost income does affect the consumer at some point, the CC company is going to pass that loss along.

Identity theft could be a much bigger issue, that can really ruin a persons credit and can take months or years to resolve.

The only victims in credit card fraud are the victims themselves and the retail merchants charging the card. Banks almost never take the hit for fraudulent activity on credit cards. Instead, they pass it onto the merchant and hold them liable.

 

[JulesMaximus]

If by decently long you mean "until I get off the phone with them"...

That's been my experience with BofA.

Same here but with Wells Fargo. Charges were reversed immediately.

 

[rsbennett00]

Yup, as a merchant, we get stuck eating the chargebacks.

 

[RelaxTheMind]

i feel bad for anyone that may have tried to steal my identity in my early 20s. My bank rep told me about a wal mart card that got denied like over a decade ago. since then got every possible identity theft protection which costs pennies.

 

[stlc8tr]

Erm? You're gym doesn't have an online presence? And that's acceptable?

An online presence would be nice but it's not a deal breaker.

It's a gym. I go there to move large metal objects around.

 

[Kelvrick]

I don't keep that much money in my checking account. I transfer money in as needed. I feel it is much more of a hassle if the info got stolen and it was drained as transactions such as house/car/credit card payments were processing. I feel like the third parties that I pay using my bank account are much more hassle when those payments don't go through, unlike if my last online purchase doesn't get processed.