Learned something interesting the other day. Some unknown person was able to get ahold of a friends debit card number and made some charges on his card. He called the bank and they said there was nothing that they could do until he filed a police report and jumped through other various hoops.
I had always assumed that you could contest a charge on a debit card just like you can on a credit card, but apparently not.
I guess I'll stick with my credit card. Has anyone else heard of anything like this happening.
igotjam said
07:48 AM Nov 16, 2009
I haven't heard what you have, but I always lean toward a credit card. With a credit card there is one more layer between the crook and your money. (the credit card must get paid from your bank account where a debit goes directly to your bank account) Had my CC compromised last year (they charged up 5 laptops, haircuts, drug store purchases etc) and the CC company reversed all charges with no hassle.
phyllen said
08:22 AM Nov 16, 2009
I am curious - just how prevalant is charge card/identify theft? How many here have had an experience with it and how was it resolved?
Phyllis
Happytrails said
09:15 AM Nov 16, 2009
Someone stole my debit card number (from off a local gas stop) and purchased several items using my number. My bank actually called me to alert me and stop that number from use. They reissued me another card....new number and took care of the amount charged except the first $50.00. I was really amazed since I had been careful not to use the pin number in sight of anybody and NEVER over the phone or through internet. Apparently they "read" it off the pump where I had gotten gas. Be careful that you "cancel" after using your card no matter what card you use. This person had used my number on phone orders because they did not have my pin number. Had they had the pin number they could have wiped out our account. It is VERY scary!! I have gotten to where I don't use it much any more at all but there are times you almost have to.
I think this time of year can be very dangerous with things such as this. Everyone be careful.
53 Merc said
09:50 AM Nov 16, 2009
Had a similar experience with our debit card. Bought fuel in Clinton, Tennessee, entered the PIN, got 100.00 worth of diesel. Felt like the transaction was over, got a receipt, drove away.
Next day, we moved to West Virginia, got parked and went to WalMart. Bought a few items, and used the debit card so I could get some cash. Clerk handed me a slip of paper that said the transaction was refused. Well, I knew the funds were there, so I thought I had input the PIN incorrectly. Tried again, same result. Used the Credit card and paid out.
Next morning, called the bank. Clerk told me there had been 5 more charges for 100.00 made on our card, using the PIN. So, they stopped all charges and did not pay any of them. I got my receipt, read off the confirmation number. Spent over an hour on the phone with the very helpful bank employee to get it all resolved.
End result, the bank paid the one legal charge, overnighted me a new card and life continues. Since then, I use my Debit Card ONLY at a bank ATM.
wmalefyt said
06:43 PM Nov 16, 2009
We have a debit card but use it only to withdraw cash at an ATM.
We use a credit card for all non-cash transactions and just recently had two fraudulent charges made on it. I check my account online everyday and when I saw these unauthorized charges I called the bank. They closed the account, credited our account for these charges totaling about $3000.00 and issued new cards with a new number.
This is the second time in about 6 years this has happened to us and both times the bank took care of it at no cost to us. It did take about a week to get the new cards but no big deal.
-- Edited by wmalefyt on Monday 16th of November 2009 06:43:57 PM
Delaine and Lindy said
07:21 PM Nov 16, 2009
We learned never use a Debt card except to get money from a ATM.. We also learned never let your C/C out of you site. We have had on several different times someone else has used our card to sign up for College courses on line and evern set up a account to have money withdrawn for the easy-pass system in New Jersey and we haven't been anyplace near New Jersey?????? Be careful, and always have two different account numbers. It will save you a lot of hassle. GBY.....
Racerguy said
08:10 PM Nov 16, 2009
Same as everybody else. Debit only for cash, credit for all other purchase's.Set up auto pay on monthly expenses.Have been compromised twice on online purchase's so we now buy Visa gift cards to use online( e-bay etc.).Monitor all accounts online every day.
Coyatee said
08:26 PM Nov 16, 2009
Like the others, debit card at ATM's only. Never let my credit card out of my sight (i.e. never at cafes where they take it away and bring back your receipt. Only at places, like stores and fuel stops, that have the scan machine in your view).
Readytogo said
06:49 AM Nov 17, 2009
I use my debit card for everything. I use it only as a credit card. I have had only one incident where there was an unauthorized charge. Called the bank and they took care of it.
markspend1 said
03:51 PM Mar 26, 2013
Hey Guys according to that topic i think that inspite of the popularity of an debit card,consumers are often confused about the safety measures.Many of the same functions and rights provided by credit cards are also offered with an debit card. It’s important to know that Charge an debit card carry the same rights as Charge bank credit cards.Thanks a lot!!
Technomadia said
04:33 PM Mar 26, 2013
Debit cards can be quite dangerous - as they are a direct link into your cash. Unless you are managing your cash by transferring in from savings as you need it, you are putting your finances at risk when you use a debit card. While banks will generally investigate the matter, your funds may be tied up until they do so.. or at least until you notice it.
With a credit card, we have had many instances where the credit card company caught the fraud on our account even before we noticed it. Just recently, an online merchant got hacked and our a whole slew of credit card numbers were compromised. Even before we had a fraudulent charge on our account, our credit card company had contacted us and overnighted us new cards.
And we have had fraud charges go through on the account as well. As soon as we notice them (we download our transactions into Quicken daily), we just dispute them online and they're immediately taken off our account.
Credit cards also give you extra protections on purchases - such as doubling the manufacturer's warranty, providing accident protection (we once got a brand new camera replaced after it got dropped) and extra power with a merchant. Bought a service in a town you previously visited (or online) and later discover it wasn't as promised? If the merchant is not making it right, you can refute the charge.
On top of that, we also get up to 5% cash back on our transactions.
We also keep multiple credit card accounts ready to go - just in case one is compromised. Also comes in handy at the pump when they shut it off after two $100 transactions.
- Cherie
BVC said
06:17 PM Mar 26, 2013
I like the Visa gift card idea. I never feel comfortable ordering things online and everytime I do I think about getting 1 credit card with a $500 or $1,000 limit and only use for online purchases. When ever I get gas I always push the "clear" and "cancel" buttons after getting my receipt. I read online a few years ago that your credit card # may show inside on the computer until the next person uses that pump. Pushing those buttons removes it from the screen inside. Have never used a debit card.
Raytronx said
07:17 PM Mar 26, 2013
All the debit and credit cards in Canada now have a built in chip and you use a pin as a signature. The old magnetic strips were being compromised by fake swipe machines. Debit card use is way higher in Canada. It's cheaper for the merchants as they are charged 15 cents or so by the merchant services where as credit cards are usually 2-3 percent of purchase.
Northwoods Mary said
04:41 PM Mar 29, 2013
Be careful at ATMs too. Thieves can place a scanner you won't even notice that records your info when you swipe your card. At the same time they install a small camera that records your PIN. They move these around every few days to avoid being caught. I was on a financial crimes task force for a few years and this was one of many tricks we learned about.
Lucky Mike said
08:19 PM Mar 29, 2013
I use a Walmart Debit Visa card for all online or daily purchases......I add funds to it thru my main account as needed and never leave more than a 100 dollar balance .
one thing I tell everyone to do......take a black permanent marker and after you copy it ...BLACK OUT the 3 digit security code on the back and write proper ID only on the back of the card near the signature line
if you black out the 3 digit number there is no way to use that card over the phone or online..............without it
ew9266 said
11:12 AM Apr 28, 2013
Always travel with two credit cards. Should your card result in a fraudulent charge your bank can quickly shut down the card while you use the other card to continue your normal operations. We were stuck once for several days paying everything with cash while we waited for our new card to be issued. We use a Credit Union Visa card, as our prime and a Master Card from the same Credit Union as our backup. Should we want to track something seperate from our normal operating cost we will use the backup card to do that such as repairs and maintenance. We have found over night card issuing isn't always over night and you may not be near your mail pickup location if your traveling. We are all targets for the crooks no matter how careful you are, at sometime we will all experience the quick hand of the thief. How prepared you are for it makes the difference between a serious stressful situation and just a simple call to your bank to report the problem. Checking our statement on line daily has proved to be very helpful in catching these things early and resolution much quicker. I don't want to sound like this happens every other day, it has happen twice to us over the last 10 years or so. Having the second card makes life much easier exspecially when your on the road.
Using a credit card can have other benifits. We use our card for everything and accualate points for everything we spend. This normally ends up to be some desent cash every year that we use for our grand kids Christmas presents. The primary card is the only one we have setup to acculate points so we really only use the second card in emergency situations or when we really want to track something seperate as I mentioned eariler. You would really be surprized when you pull a statement and see where all your money goes. We use this to adjust our spending in certain ares if we are getting a little crazy in one area. Planning and being prepared is the secret to avoiding serious stressful situations.
tibbar said
05:57 PM Jul 18, 2013
I have lost count of how many times I have had my CC's hacked. I get calls from the CC company asking if I made such and so purchase every few months. I really don't shop much more than buying food and fuel and have to wonder just how my Wal-Mart Discover and Chase AARP card info gets into the wrong hands. I use the Discover CC all the time and each statement comes with a check for $10 or $20 depending on what I have bought. I have other cards I can use till I get the replacement but really, the fraud calls are getting old.
igotjam said
07:01 PM Jul 18, 2013
tibbar...agree with you. Have multiple C cards so I have one to use as the others get cancelled. Not surprized as so many store/gas attendants are paid minimum wage and few are prosecuted. Not much incentive not to skim. I am Canadian and the chip in the credit card makes zero difference....the info gets stolen just as often. I still believe a credit card is much better than debit....the cc company always reverses any fraud charge immediately....not sure my bank would be as easy with a debit card.
I had always assumed that you could contest a charge on a debit card just like you can on a credit card, but apparently not.
I guess I'll stick with my credit card. Has anyone else heard of anything like this happening.
Next day, we moved to West Virginia, got parked and went to WalMart. Bought a few items, and used the debit card so I could get some cash. Clerk handed me a slip of paper that said the transaction was refused. Well, I knew the funds were there, so I thought I had input the PIN incorrectly. Tried again, same result. Used the Credit card and paid out.
Next morning, called the bank. Clerk told me there had been 5 more charges for 100.00 made on our card, using the PIN. So, they stopped all charges and did not pay any of them. I got my receipt, read off the confirmation number. Spent over an hour on the phone with the very helpful bank employee to get it all resolved.
End result, the bank paid the one legal charge, overnighted me a new card and life continues. Since then, I use my Debit Card ONLY at a bank ATM.
We use a credit card for all non-cash transactions and just recently had two fraudulent charges made on it. I check my account online everyday and when I saw these unauthorized charges I called the bank. They closed the account, credited our account for these charges totaling about $3000.00 and issued new cards with a new number.
This is the second time in about 6 years this has happened to us and both times the bank took care of it at no cost to us. It did take about a week to get the new cards but no big deal.
-- Edited by wmalefyt on Monday 16th of November 2009 06:43:57 PM
Never let my credit card out of my sight (i.e. never at cafes where they take it away and bring back your receipt. Only at places, like stores and fuel stops, that have the scan machine in your view).
With a credit card, we have had many instances where the credit card company caught the fraud on our account even before we noticed it. Just recently, an online merchant got hacked and our a whole slew of credit card numbers were compromised. Even before we had a fraudulent charge on our account, our credit card company had contacted us and overnighted us new cards.
And we have had fraud charges go through on the account as well. As soon as we notice them (we download our transactions into Quicken daily), we just dispute them online and they're immediately taken off our account.
Credit cards also give you extra protections on purchases - such as doubling the manufacturer's warranty, providing accident protection (we once got a brand new camera replaced after it got dropped) and extra power with a merchant. Bought a service in a town you previously visited (or online) and later discover it wasn't as promised? If the merchant is not making it right, you can refute the charge.
On top of that, we also get up to 5% cash back on our transactions.
We also keep multiple credit card accounts ready to go - just in case one is compromised. Also comes in handy at the pump when they shut it off after two $100 transactions.
- Cherie
I like the Visa gift card idea. I never feel comfortable ordering things online and everytime I do I think about getting 1 credit card with a $500 or $1,000 limit and only use for online purchases. When ever I get gas I always push the "clear" and "cancel" buttons after getting my receipt. I read online a few years ago that your credit card # may show inside on the computer until the next person uses that pump. Pushing those buttons removes it from the screen inside. Have never used a debit card.
one thing I tell everyone to do......take a black permanent marker and after you copy it ...BLACK OUT the 3 digit security code on the back and write proper ID only on the back of the card near the signature line
if you black out the 3 digit number there is no way to use that card over the phone or online..............without it
Always travel with two credit cards. Should your card result in a fraudulent charge your bank can quickly shut down the card while you use the other card to continue your normal operations. We were stuck once for several days paying everything with cash while we waited for our new card to be issued. We use a Credit Union Visa card, as our prime and a Master Card from the same Credit Union as our backup. Should we want to track something seperate from our normal operating cost we will use the backup card to do that such as repairs and maintenance. We have found over night card issuing isn't always over night and you may not be near your mail pickup location if your traveling. We are all targets for the crooks no matter how careful you are, at sometime we will all experience the quick hand of the thief. How prepared you are for it makes the difference between a serious stressful situation and just a simple call to your bank to report the problem. Checking our statement on line daily has proved to be very helpful in catching these things early and resolution much quicker. I don't want to sound like this happens every other day, it has happen twice to us over the last 10 years or so. Having the second card makes life much easier exspecially when your on the road.
Using a credit card can have other benifits. We use our card for everything and accualate points for everything we spend. This normally ends up to be some desent cash every year that we use for our grand kids Christmas presents. The primary card is the only one we have setup to acculate points so we really only use the second card in emergency situations or when we really want to track something seperate as I mentioned eariler. You would really be surprized when you pull a statement and see where all your money goes. We use this to adjust our spending in certain ares if we are getting a little crazy in one area. Planning and being prepared is the secret to avoiding serious stressful situations.