Debit/Credit card warning

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SWMO

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Jul 27, 2007
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Carthage MO
I used a credit card to purchase some products for my business last week from a respected company and within 24 hours somebody was charging purchases to my credit card.  I luckily caught it very quickly and my credit card company also had caught the fraud.

My banker tells me that there is an increase in credit and debit card fraud out there right now.  You need to ask your bank  how the fraudulent usage of you credit card and debit card affect your accounts.  My bank tells me that there is not a limit for what I am at risk if someone steals my debit card. Essentially what is taken out of your bank account may be very difficult to get back or take a long time.

Just a cautionary note.  My bank told me to never use a debit card for an internet transaction.
 

cornbread

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Joined
Jun 10, 2007
Messages
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thats no joke, i had to close my bank account and open a new one,after some outfit called wanting to give me $500,a gas voucher, and some more free crap. these people had a lot of info on  my account.all i needed to do was verify some stuff, sounds to me like they just needed a little more info. funny thing to me is, this never happened until i used my debit card on the internet
 

JSchroeder

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May 17, 2007
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San Antonio, Tx
SWMO, what was the respected company?  Did they have an SSL logo on their website?  Did you go directly to their website or did you go to it through a link in an e-mail?

cornbread, based on your post, it sounds like you got caught by an identity thief.  Never give people information if they contact you out of the blue asking for it.  Nobody is going to track you down to give you free stuff.
 

knabe

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Hollister, CA
i never use my card over the internet and have a separate card for transactions over the phone, vs what i use in the store.  the only transaction over the internet i use is for car registration and drivers license through the dmv.  i don't even use pay pal and will wait extra days to use check or whatever.
 

JbarL

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knabe said:
i never use my card over the internet and have a separate card for transactions over the phone, vs what i use in the store.  the only transaction over the internet i use is for car registration and drivers license through the dmv.  i don't even use pay pal and will wait extra days to use check or whatever.
we have one  desiginated card on line with a very small credit limit......ie ..... .say $750.00 it is for pay pal/plane tickets/rentals.../embroiered t shirts and what not.. ;)...jbarl
 

Joe Boy

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Jan 31, 2007
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I had a card I cancelled because of charges to it that I did not make.  They took them off.....BUT, they sent me another card and I did not activate it.  Then in April they sent me a bill.  I called and wrote to no avail.  Finally, I got some one who checked it out took all the charges off, only to call my wife and tell her that I did make the charges for card security with the company three years prior and that they continued this charge.  I have threaten to take them to court but they do not listen.  I paid and will never use a card from them again.

Personally, I think the credit card companies will break Americans very quickly.  Wasn't it Chase that had someone get into their data bank.  There are a great deal of people with the knowledge and time that can break the codes of computer systems.  I do not trust them.  I will not bank on line and do not pay bills on line.  I hope it works but it just is not secure enough right now for me.  I really do not like it when I do not get my check back either with the electronic deposits.  I do not have confidence in the system or it's safeguards.
 

JbarL

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i have a customer here in fl that took a big hit on a large credit limit card, that they traced back to a gas pump purchase on the slide and pay outside at the pump communications of info as the culprit of security breech...... :mad:......the credit card company acutally caught the fraud from the demographic location of the charges along with the rapid spending on highly abused items of purchase...a actually alerted her as to the problem, before she even new it was happening....but it still took alot of time/fustration/worry/ and the realization of what a disaster a high spending limit may have caused...let alone all the personal info that was recieved as well...more fustration and worry .....jbarl
 

knabe

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taken from www.oftwominds.com/blog.html

the U.S. economy has become a FIRE (finance, insurance, real estate) economy of service jobs.
It should be called the GFIRE economy, G for government.
The GFIRE economy depends entirely on the repetition and velocity of transactions to survive.

If you don't buy a lot of stuff with your credit cards, nobody makes money.
If you don't re-fi your mortgage, HELOC or other loans every few years, nobody makes money.
If you "buy and hold" a stock and don't churn your portfolio with lots of buying and selling, nobody makes money.
If you don't take handfuls of "it doesn't work but what the heck, I have to prescribe something" pharmaceuticals, nobody makes money.
If you don't go to the doctor often, nobody makes money.
If you don't buy a new car every few years (with a new loan), nobody makes money.
If you don't have insurance, nobody makes money.
I think you get the picture. Without ever-increasing volumes of financial transactions, the GFIRE economy stops breathing and dies.

9. The quintessential corporate-America success story is Apple, which makes nothing in the U.S.
 

SWMO

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Jul 27, 2007
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Carthage MO
JS  The company was Salsbury a mailbox manufacturing company.  They display the Hacker safe logo that says they are 99.9% safe  apparently I was the .01%.

The credit card company took off the charges so that part is great. But I agree with Knabe about the refinance.  Our current housing issue has been created by the credit card companies, the finance companies and the banks.  A person does not have to prove that they can pay back the principal on any loan issued to them in the past 5 to 8 years.  They just had to be able to service the interest.  This is a different philosophy for the banks than the banks had 20 years ago.  Then you had to be able to repay the interest and also have the principle reduced every year or they would not rewrite the loan or loan you any more money.
I can't believe that people will go for a loan like the one that Quicken was advertising that was a 30 year and you only had to pay the interest.  I suppose you are counting on the value of the house alway increaseing or become a glorified renter for 30 years with nothing to show for it in the end.
 

Simmimom

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Joined
Jul 29, 2007
Messages
84
If you haven't experienced it for yourself, identity theft is a nightmare of automated phones, letters, and frustration.  In my case Citibank (from whom I have had a card for 25 yrs.) called me because of the unusual number of instant credit inquiries in the past 24 hrs.  Needless to say it wasn't me... I try to avoid credit!  Alerts were placed on the 3 bureaus within hours and police reports filed.  Within 72 hours these people had bought a car, cell phones, been approved for Sam's Club Discovers (and taken cash advances), jewelry etc.  When the individual was arrested for using yet another alias at a furniture store the uhaul rented in my name was left in the parking lot!  Nothing against hardworking law enforcement, but, the fact that they realsed her (as me? can't confirm?deny) chaps my a**.  Now my local police check monthly for me to see if there is a warrant out for the "other me".  Be careful with all information!
 

obie105

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Oct 17, 2011
Messages
780
I use a prepaid wal mart money card for all Internet transactions including pay pal that way there is only a set amount on there.
 

CRS

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Jul 22, 2012
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473
Location
Ohio
We got called to our local Murphy's gas station a couple weeks ago when our county Auditor found credit card skimmers placed in the pumps, which were Bluetooth enabled. Several other local stations were found to have the same thing. There is also a capturing device that can be installed in ATM's, which was being used with a remote camera to obtain PIN numbers. If they'd just get a job and work as hard at that.
 

KSanburg

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May 5, 2010
Messages
695
Location
Western Colorado
Wonder what their W-2 or W-9 forms look like? Does the IRS have a special 1040 form for thieves and when do they have to file by?

LOL!!
 

Bulldaddy

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Oct 5, 2009
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1,131
Location
Valley Mills, Texas
Unless something has changed, there is a $50 limit of liability with a stolen/fraudulent credit card once the bank has been notified.  Their is no limit when it comes to debit cards so you should never use a debit card to order online.
 

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