Protection Against Credit Card Fraud

[+ Avalon]

I subscribe to several online things like Netflix etc.. I pay them monthly by credit card. But I decided I wanted to pay them annually. Some have a way to do this but some don't. One of the ones that doesn't told me to buy gift cards and use them on my account.

 

So I went to Target (online). Yesterday and today I tried to purchase a gift card seven times. But each time I've been rejected. I spoke to my bank three times. They feared it was credit card fraud but explained what I was doing and fixed it. I spoke to Target three times. The first two times they thought it was fraud but said they fixed it. I tried again this morning and it was rejected. So I called. The person at Target ultimately said there was nothing they could do.

[+ tassojunior]

I CitiBank's virtual cards.

[corndog]

For the most part, credit card fraud is your bank's problem, not yours. The consumer protection laws, and the banks' policies, strongly favor the consumer, and, other than some inconvenience, you stand almost nothing to lose from credit card fraud. Banks encourage consumers to be diligent about credit card fraud because it reduces their losses. You are generally not liable for any fraudulent charges, and even if you're extremely reckless and do everything wrong, your liability is usually limited to $50.

 

I've had several incidents of fraudulent activity on my cards over the years, and usually they're immediately identified by the bank. In some cases I've spotted and reported them. In either case, the bank immediately reverses the charges and sends a replacement card with a new account number. (Yes, it's a hassle to update all my automatic charges with the new account number.)

 

A couple caveats:

• Debit cards are different and seem to offer less consumer protection. I avoid.
  
• Identity Theft is something else entirely, but there usually isn't a direct path from credit card fraud to identity theft.
  

[+ Avalon]

A number of years ago I was a victim of debit card fraud. A Saturday morning I got a call from my bank saying that someone was buying things in Chicago. I've never been to Chicago. The bank fixed it. I don't use my debit card anymore. It's easier to pay by credit card and then pay it off each month.

 

++++++++++++++++++++++++++++++++++++++++++++++++++

 

Regarding the gift cards - instead trying to get one $200 card I tried getting two $100 cards. I ordered them several hours apart and they went through. I'm all set now. The reason I want to pay these sites annually rather than monthly is because when I go into the nursing home I want to be able to still enjoy them. The home should have internet access.

[+ tassojunior]

The fraud I worry about is where you sign up for a "trial" online and it keeps on charging. Also several sites I don't want having my credit card anyway. Virtual cards for me except Amazon and PayPal.

[+ tassojunior]

 

that's not really "fraud," they (and their card processors) require that the disclosures are clear. But, it's a pain for sure. Now, "virtual cards"...tell me about your experience with them @tassojunior

 

Other credit cards have them but CitiBank was the first I think. I just click "generate a card", tell it the amount, and there it is. A lot of on-line porn sites charge less on an "automatic renewal" and there are a lot of other promos for discounts with auto renewals. My XM is $30 for 6 months with auto renewal at $20/mo. I've had it for 6 for 30 for ten years with virtuals.

I pay all these with virtual cards and have never been hassled for renewal fees. Charge doesn't go through, they just cut you off. Works every time for the "low introductory price with auto renewal"s. Also I use virtuals for dodgy onliners like overseas pharmacies, etc.

[+ Tarte Gogo]

I subscribe to several online things like Netflix etc.. I pay them monthly by credit card. But I decided I wanted to pay them annually. Some have a way to do this but some don't. One of the ones that doesn't told me to buy gift cards and use them on my account.

 

So I went to Target (online). Yesterday and today I tried to purchase a gift card seven times. But each time I've been rejected. I spoke to my bank three times. They feared it was credit card fraud but explained what I was doing and fixed it. I spoke to Target three times. The first two times they thought it was fraud but said they fixed it. I tried again this morning and it was rejected. So I called. The person at Target ultimately said there was nothing they could do.

I would recommend to get an Amex. That is my own experience only, and maybe people will disagree but : they have never denied me a single transaction online or otherwise, unlike other banks who freak out and think someone must be doing fraud whenever I buy something slightly unusual.

[+ Avalon]

I would recommend to get an Amex. That is my own experience only, and maybe people will disagree but : they have never denied me a single transaction online or otherwise, unlike other banks who freak out and think someone must be doing fraud whenever I buy something slightly unusual.

 

Thanks. But when I go into the nursing home I don't know if I'll still have a credit card. That's why I went from monthly to annual so I can still have those sites for awhile.

[rvwnsd]

I would recommend to get an Amex. That is my own experience only, and maybe people will disagree but : they have never denied me a single transaction online or otherwise, unlike other banks who freak out and think someone must be doing fraud whenever I buy something slightly unusual.

Actually, Amex was one of the first cards to analyze transaction history and decline out-of-pattern charges. Over the last 20-something years they have developed a pretty solid algorithm. Bank of America, on the other hand, either over-flags (and then keeps you on hold for several hours because they did the same to everyone else) or doesn't flag at all (wow - you travelled from Dillard's in Scottsdale to Dubai in ten minutes! Sure, we'll approve that!)

 

In regards to the OP's card being declined for fraud, he has said he never goes out of his house and suddenly buys a prepaid card at Target. A fraud filter will flag that. Try seven times before calling the bank? You are lucky your card was not cancelled.

[+ Avalon]

In regards to the OP's card being declined for fraud, he has said he never goes out of his house and suddenly buys a prepaid card at Target. A fraud filter will flag that. Try seven times before calling the bank? You are lucky your card was not cancelled.

 

During my effort to obtain a $200 gift card I called both the bank and Target several times after I received the rejection emails.

[+ Pensant]

Amex Platinum is amazing in terms of customer service. Chase is hyper-vigilant about fraud, as is Merrill Visa Signature Card. I’ve heard horror stories about debit cards, so I rarely use mine.

[+ Tarte Gogo]

Thanks. But when I go into the nursing home I don't know if I'll still have a credit card. That's why I went from monthly to annual so I can still have those sites for awhile.

If your card is free (there are many free cards, including one at Anex) why would you or they cancel it? Keep it, even if you don’t do t use it much.

[+ Avalon]

If your card is free (there are many free cards, including one at Anex) why would you or they cancel it? Keep it, even if you don’t do t use it much.

 

Nursing homes are expensive, more than I can afford; I have no insurance to cover it. I'm thinking I'll need Medicaid and they have rules about property and income. When I contacted that group to help me earlier this week there is a two part system. One person to find a home - that person contacted me the same day - and another person to help handle my other affairs. They have to co-ordinate. I've not heard from the second person yet.

 

My doctor sent the first my medical records and is writing a letter. I just have to wait.

[+ Keith30309]

I’ve a Visa issued by a brokerage bank which sends me a text message when they identify a questionable transaction. I can reply “yes” or”no” and they will immediately approved those I respond to promptly. Works like a charm.

[rvwnsd]

I’ve a Visa issued by a brokerage bank which sends me a text message when they identify a questionable transaction. I can reply “yes” or”no” and they will immediately approved those I respond to promptly. Works like a charm.

Nordstrom VISA also does that. At one time, BofA debit cards did too.