Credit Card Security

[falconman]

I recently noticed a suspicious credit card charge on my Master Card for $375.00 from an online merchant. This charge came one day after using the card at the Loves gas station in Buckeye, AZ. Follow up with the merchant and my card issuer confirmed a fraudulent transaction. So, how does one protect themselves at these places?

[happybooker1]

Every time I've reported a fraudulent charge on my debit/credit card the bank has IMMEDIATELY cancelled that card and " they will send a new one out by mail within 2 weeks" which means I am without credit for that long and it's a SUPREME hassle as EVERYTHING is set up to come out of that card: utilities, phone, reoccurring payments, insurance, etc.

I can't IMAGINE how frustrating that would become if I were on the road and suddenly had no CC for gas, emergencies, etc. for up to 2 weeks. Don't your banks cancel the CC in question?

[TechWriter]

falconman wrote:
I recently noticed a suspicious credit card charge on my Master Card for $375.00 from an online merchant. This charge came one day after using the card at the Loves gas station in Buckeye, AZ. Follow up with the merchant and my card issuer confirmed a fraudulent transaction. So, how does one protect themselves at these places?

Back to OP's question . . .

First, I'd suggest putting a 90-day security freeze on all your credit reports -- Equifax, Experian, and Transunion. If a lender can't pull your credit report, it isn't likely to grant new credit to someone else in your name. BTW, each one of these agencies will try to sell you credit scores, monitoring services, etc. Don't bother.

Second, you're entitled to a free credit report at least once a year from each one of the three credit agencies. Request a credit report from each one. When you get them, take a close look at the data they have on you -- especially personal info. If incorrect, ask them to correct it.

[TechWriter]

pnichols wrote:

Below is a link supporting improved security with the upcoming new chip and PIN credit cards. By the way, how can chips broadcast without a battery - do the new cards have a flat battery sandwiched inside?

Yes, the new credit cards will be much more fraud proof, but what about online sales?

[westend]

Smartcard technology

[mlts22]

Chip and PIN use the electrical power from the reader to activate the chip. A skimmer isn't going to do any good... the entire transaction is encrypted from the bank on up, so even with the PIN leaked with a bogus keypad, unless they have the card in hand, there isn't much that can be done barring stealing your card at another time.

Of course, there are payments via phones, be it ISIS, PayPal, Amazon Wallet, Google Wallet, or similar.

[2oldman]

Bucky Badger wrote:
Actually thieves put "skimmers" in pumps. Been on TV numerous times

They do, and I got bit by one in Las Vegas.

[Bucky_Badger]

Dutch_12078 wrote:
I'm guessing that you didn't use the card to pay at the pump at Loves. Once you hand your card to a clerk, waitress, etc., it only takes a dishonest one a second to swipe it into a small concealed device, often attached to a smart phone.

Actually thieves put "skimmers" in pumps. Been on TV numerous times

[TOMMY47]

Credit cards track you across the country. Not crazy about that.
Old car, no "smart" phone, pre-paid anonymous phone, stand alone GPS. Hard to know where I might be headed.
Too much information available if you give it away. Government knows enough already.

[2oldman]

webslave wrote:
Actually, those "chips" make stealing your credit card information easier...

Wow.. financial institutions spending millions to develop an easier way to steal credit cards. Amazing.

[pnichols]

I don't agree with the above comments on the right type of chip credit cards not being more secure.

Below is a link supporting improved security with the upcoming new chip and PIN credit cards. By the way, how can chips broadcast without a battery - do the new cards have a flat battery sandwiched inside?

Here's the link talking about the kind of new chip and PIN credit cards some of us already have:

http://www.cnbc.com/id/101412123

[webslave]

Actually, those "chips" make stealing your credit card information easier...they are "broadcasting" type chips and where, without them, a person has to physically have your card and scan the magnetic strip, someone with an RIF reader can just walk by you and take the information without ever having contact with you. That's why there is a whole new business of providing shielded wallets to carry those cards in so that they can't be scanned by proximity to you. It isn't widespread; yet, and there are encryption schemes for them. Whether it will be widespread is still being debated, but, don't be lulled into thinking that if you have one of the new "chip" cards that you are now safe, you really aren't and still need to aware of your environment. Do a search on the internet - there is a lot of information out there on these new chips and, unfortunately, whatever a man designs for more security, there are more men equally devoted to defeating it...

[2012Coleman]

Dutch_12078 wrote:
I'm guessing that you didn't use the card to pay at the pump at Loves. Once you hand your card to a clerk, waitress, etc., it only takes a dishonest one a second to swipe it into a small concealed device, often attached to a smart phone.

I use my debit card as a credit card at the gas pump all the time. Went to a gas station I never before frequented, and used it as a credit card - no pin. The next day, someone was buying gas in Tennessee with it. It could have been a rigged card reader ar something else - I have no idea how the number could have been obtained.

You are douing the only thing possible besides paying cash - being vigilant by checking your account.

Edit: Just saw Dog Folks post - that sums it up for me.

[Dog_Folks]

Dutch_12078 wrote:
I'm guessing that you didn't use the card to pay at the pump at Loves. Once you hand your card to a clerk, waitress, etc., it only takes a dishonest one a second to swipe it into a small concealed device, often attached to a smart phone.

I would not count on pay at the pump to keep you safe. In our area, they are using credit card skimmers, inserted directly into the card slot at the pumps. They are difficult to see. It happens frequently in cycles of activity.

[BigDaddyHfx]

We are at the end of a two week trip to New England from Nova Scotia. I was very surprised that no merchants used Chip & PIN technology to secure credit / debit card transactions. We've had it in Canaada for a while now and I'm now surprised when a merchant doesn't have chip & PIN.

[pnichols]

Crowe wrote:
Keep dreaming. It will take no time at all for crooks to figure that out as well.

Nope.

The chips are a whole nuther' ball game and have no relation to the good old ancient and obsolete "swipe the magnetic strip" system ... check with results in Europe to see.

Take comfort that the non-user part of the credit card system pays the fraud bill, so the incentives are through the roof on putting and keeping a lid on the fraud. Thank goodness that users don't pay for the fraud (other than through prices slowly sneaking higher from fraud). I'm REALLY surprised this responsibility hasn't migrated over to us users ... considering how things usually go with big business in this country.