Anyone have Sears MasterCard limit decreased

delwhjr wrote:

rockhillmanor wrote:

fj12ryder wrote:
I don't understand using a debit card for internet purchases. No real pluses, and the minus of having whatever is in the account lost. Plus no "float".

The other down side of using a debit card is you can NOT dispute a charge like you can on a credit card.

I got hacked on my debit card from a website I bought something from and the 3rd party crook was debiting my account every 20 minutes for $89.67. Called the bank and they said NOPE sorry can't help you, its a debit card, can't dispute the charge. :R

Panicking I Got to the president of the banks office and demanded that he sit and watch my account. That "I" was not using the debit card every 20 minutes for the same amount. They FINALLY took the charges off but not after several hours of arguing with them.

I now know for sure you can't dispute debit card charges like you can with a credit card. :C

Not true. It depends on your banks rules. My bank will reverse debit charges after you file a complaint, just the same as a credit card. Have had to do it before and they had me fill out complaint. I was reimbursed next day including all fees.....

Clarification. It was not a "debit charge" it was an "automatic debit"

In my case the money was being ripped out of my account because it was done as an "automatic debit". Like when you authorize one of your bills to be "automatically" deducted from your account.

So as far as the bank was concerned "I" had to have had to authorize the automatic deduction. Therein laid the reason the bank could not reverse the charges.

The fact that someone got my info and started deducting the money as if it was an authorized bill pay is a very very scary thing. And now I see just how easy it can be done.

If you think about it with bill pays all you do is either click a box or in very rare cases nowadays, sign a document that says you authorize them to do so.

THAT tangible info does NOT ever go to your bank, nor is it on file with your bank for them to check before they give them your money.

It's 2017!! They don't have a real person sitting at a desk with copious millions of pieces of paper checking to see if an account has a written authorization for an auto pay or putting that info into a data base, nor does the company send the banks a copy of the box you checked on line authorizing an auto pay.

The company sends an auto debit with just your card info and bam, the bank gives you money to them.

So theoretically anyone can start auto debiting any account if they have your info, because the bank has no data base or paperwork on file that they 'physically' check saying it is ok to do so.

What this showed me is there is a GIANT hole in the security of auto debits. And no checks and balances if it was authorized by the account holder. All they need is your account number and expiration date off the card.

After my experience, to PROVE this I had a friend of mine who owns a business try and debit my account with just my account number and expiration date. The bank did not require any documentation that I had signed an authorization and within 2 minutes my money was in his account.

So all you naysayers just keep buying stuff off the internet with your debit cards on sites that even state they sell your info to 1st, 2nd and third parties. In my case the site I bought something on with the card wasn't the culprit it was a third party they had sold the info to. It may never happen to you but it sure can. :B