OT Credit Cards

Verrry Intewesting! I had heard something about that, but not that much detail. It's scary, the things so many now depend on to conduct business and such, is so easy to prey upon. Thanks for the post.
 
Thank you Sergeant Schultz or was it Colonel Klink or from Laugh In (the little dude in Russian or German Uniform???) ??????????

John T
 

We had our credit card number stolen just before Christmas. Got a call from the bank's fraud unit that someone tried to use our card number at a store in Spain (we are in SE Ohio), twice, so they canceled the account after we verified they were not authorized attempts. Fed-Ex'ed new cards to us within three days. Weird thing is we don't use credit cards much, mostly just for on-line purchases and emergencies.
 
Mine don't have the chip.

I opened a card with a very small limit to use only for online purchases so if it was hijacked it would limit exposure.

Worked for a while, but card holder kept raising the limit. I would call and get it reduced, but they finally told me the minimum was $5,000 so I closed it.
 
I do the same. Best move I ever made.

In a worst case scenario, somebody could use my card up and it wouldn't be enough for me to lose any sleep.

The bigger side benefit is that when I'm constantly worried about getting maxed out - I find it cuts my impulse purchasing down.

Waaaaay down.
 
Picture of chip and pin card. Notice the extra chip.


Mastercard, Visa, AE all know the answer to this problem. It's been used around the world for nearly 10 years. It's called chip and pin. It has a one of a kind chip(so they say) that the stores terminal will read and confirm the card isn't a duplicate. It still offers occasional use of paypass technologies if the card has the RFID chip. (Most do, though it can be a pain, because you go to use the paypass, but it wants you to insert the card, so you just end up inserting the card all the time and entering a pin.) Both debit and credit cards use it now, but some stores only use mag stripe (some gas stations and a few other stores.) Also unlike the States, which from what I understand, don't use pin's for debit, Canada has for alot of years. Maybe chip and pin is finally in the States, but it certainly took long enough.
288x208_beyond_the_card.jpg
 
As far as I know... all here are chip AND PIN now... or at least moving that way from mag stripe. I can see where mabey the chip info could be swiped in this manner but for most terminals it would require the pin. For those that still use mag stripe and signature... there would be some vunerability...

Rod
 
Credit card is a good tool for purchasing online.
Limits you exposure as Nancy said.
I keep my credit card in the safe.
Not carrying it around all the time lessens the chance of loss or theft.
 
(quoted from post at 18:33:01 01/04/13) Yep, Arty Johnson.

Verrry interesting. . . but stupid!


[b:9ee7807a08]Stupid???[/b:9ee7807a08] [b:9ee7807a08]How is it stupid?[/b:9ee7807a08]
 

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