Interesting Day (Credit Card Fraud)

[ChunkyMonkey]

My card got skimmed all the time. But these credit card companies will not file fraudulent charges agains HER!

[68Charger]

This is why I pay CASH for 99% my local purchases. If you are regularly using your Debit or Credit card for daily purchases under $100 then you are asking for trouble. Swiping a card is convenient until your info gets stolen and you have to deal with fraudulent charges, canceled cards, and reissued cards.

At a minimum only use your card at retailers that use the chip verification process. I know that many retailers are still not using the chip verification process and force you to swipe. For those establishments pay with cash to ensure that you don't get taken for a ride.

Given how much these credit card companies and banks lose on these fraudulent charges I am shocked that there isn't more effort put into tracking down these thieves.

Ya don't get cash back rewards when paying with cash... I take advantage of that feature, and I've only experienced CC fraud once in my life. I have text and email notifications for anything over a reasonable amount, and use a slight paranoia when making decisions (look for skimmers on gas pumps, etc)

I think the credit card companies don't pursue it because the cost to pursue would frequently be more than the loss... take into account the horrible inefficiencies that large corporations have, and it won't get pursued unless some internal "six sigma" team within that company comes up with a solution... The chip certainly helps, but if swipe and RFID are eliminated as exploits, someone will find a way to exploit the chip, too.

[Eric P]

Biometric payment signatures.

[Rumline]

Ya don't get cash back rewards when paying with cash... I take advantage of that feature, and I've only experienced CC fraud once in my life. I have text and email notifications for anything over a reasonable amount, and use a slight paranoia when making decisions (look for skimmers on gas pumps, etc)

Ya don't get to bite your thumb at the globalists when paying with a card though. ;-)

Just kidding, I agree with your quoted statement. I've had CC fraud a couple of times but it was a pretty painless experience to get it resolved.

[hurley842002]

I've never seen a issue around this... I personally like this, because the card doesn't leave your sight- if your waiter/waitress takes your card away, they could swipe it in a "skimmer" while they have it out of your sight-

I concur, one of the family owned Mexican food joints we frequent (once a month is frequent for us), brings the iPad to our table, swipes the card, and allows us to sign, never losing sight of our card.

[CO Hugh]

Yes, it's becoming frequent. What surprised me this time was that someone was willing (I assume) to come to my home to get the laptop off the porch. That's putting someone (probably a runner and not the actual scammer) within arms reach.




The same card companies that send me two pre-filled applications a month in the mail? Just add bogus income info and a change of address and scammers are all set.

If they really wanted to stop this, they could. Lots of biz, legal and tech solutions. But we keep eating the cost and they keep making interest/transactions fees.

Just a reminder that there is an entire parallel economy out there of people who don't work but exist on the backs of others. Oh, and we buy their housing/healthcare/daycare/food too!

matrícula consular?!

[Great-Kazoo]

This is why I pay CASH for 99% my local purchases.

Likewise. I see people everyday use their card for $1 - 3 - 5 purchases. Really, you just charged $2.40 on your card?

Ya don't get cash back rewards when paying with cash... I
I think the credit card companies don't pursue it because the cost to pursue would frequently be more than the loss... take into account the horrible inefficiencies that

1: i don't care about cash back. My average CC bill is $200, when traveling. Unless it's something i need and only on line i'll pay by postal m/order, if they accept it.


Like Cha-Lee, we're a cash n carry family.



2: CC companies don't pursue fraud due to them having an Acceptable Level of Loss (or something similar) to a CC company $5-10,000 isn't worth their time. Then there's the local LE side that says. Unless the card co wants to file charges, they don't get involved.

[Gcompact30]

Dam that was funny :-)

The vagrant lady that is on the corner of Evans & Holly that holds up the sign that says "Wishin for Chicken" ?

[Skip]

Biometric payment signatures.

Two factor auth is more better and less creepy. Apple has started doing this and I haven't had an issue yet.

Say any purchase over a certain amount is held until confirmed in real time with a unique code.

[68Charger]

Likewise. I see people everyday use their card for $1 - 3 - 5 purchases. Really, you just charged $2.40 on your card?

Yep, no penalty to me, and many times it's faster than waiting for someone with no math skills figure out how to make .60 in change... or heaven forbid I give them $5.40- and their head explodes.

1: i don't care about cash back. My average CC bill is $200, when traveling. Unless it's something i need and only on line i'll pay by postal m/order, if they accept it.

Like Cha-Lee, we're a cash n carry family.

I pay off my balance every month- by putting all my gas, groceries, etc on CC, I can get $700-900 cash back annually (I've got 3 kids still under 18 and at home).. that's nothing to sneeze at...

2: CC companies don't pursue fraud due to them having an Acceptable Level of Loss (or something similar) to a CC company $5-10,000 isn't worth their time. Then there's the local LE side that says. Unless the card co wants to file charges, they don't get involved.

Agreed, comes down to having to pay someone on their side to work with LE... They could create a position for loss recovery- but unless that team can show more money coming in than going out, what's the point? Many times even if they caught the criminals, there would be very little recoverable (open box item isn't same value as new). So the bean counters see it as just more money to lose paying somebody to work with LE to pursue.