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Wife Credit Card ripped off for $2000


Guest TankerHC

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Posted

My card got jacked about three years ago. The bank caught it before I did and shut the card down. Like Dolomite said two music downloads and then a generous donation to "muslim aid.org.pk".

The Bank wouldn't tell me how much just that it was big enough they didn't pay it. I'm sure it got hacked on line as it was used about an hour after I ordered some vitamins. The manager of the bank told me that even if I'm on a secure connection if I have another tab open that's not secure they can hack in that way. Also if you've been on a site and got a pop up even if you close out the pop up it can still leave something running till you shut down your browser and they can get in that way. Said she new because her card got hacked that way. 

Posted (edited)

I only have 1 Visa debit card and have never been hacked in over 15 years but I don't keep enough money in the debit account that anyone would get anything. My Social Security deposit goes into a savings account and if I want to buy something I go on line and make transfer to debit card account and make purchase and it is taken out of account right then. I also have a bank protection program that if anything is purchased that I dispute the money is put back in my account in 24 hours. Sorry to hear about so many folks having credit card issues but it seems to have become the way of the world...............jmho

Edited by bersaguy
Guest Keal G Seo
Posted

The old wives tale about maintaining a balance is just that.

 

A common misconception. 

Straight from the horses mouth (FICO):

http://www.myfico.com/Downloads/Files/myFICO_UYFS_Booklet.pdf (page 7, highlighted, bullet 3)

 

Whether you are showing a balance on certain types of accounts. In some cases, having a very small balance without missing a payment shows that you have managed credit responsibly, and may be slightly better than carrying no balance at all.
Posted

Plenty of ways for it to happen...I've got one account that has been hacked three times over the past two years even with me NEVER having used the debit card for ANYTHING.

 

Just last week I got a call from JPMorganChase about my company card; seems someone tried to use the card in NYC to buy some audio equipment...pretty odd seeing as how I was sitting in Manchester and have only used the card once the entire time I've had it.

 

The good news is that if you didn't do it you aren't responsible...the bad news is that it could turn your life into a living hell and ruin your credit rating which is one of the reasons I absolutely stopped worrying about my credit rating and also why I've had LifeLock for several years.

Posted

Something else I have noticed before I was hit was small test purchases. Most times it is a $1 donation or a ITunes purchase for $1.

 

I have had my identity stolen as well. Someone ordered a bunch of tools from Sears to be delivered to an address in Waco, TX. They said they had a ship to address, a name as well as a contact telephone number for the person receiving the shipment. They had the delivery date and tracking info as well. Problem was they would not release the information to me. They said it was for privacy reasons they could not release their information to me. They knew and acknowledged that the order was a case of identity theft but still refused to give me any information.

They did say that they would release the information to LE. So my wife called a the local LE and signed a warrant, giving them Sears information to get a name. Problem was that LE would not call Sears and get the person's information. I had a good LE buddy in Waco that said he could wait for the delivery but because of the local LE and Sears he had his hands tied.

And on top of this the bank accused my wife of ordering the stuff then filing a false report to avoid paying for it. Me and the bank manager had a heart to heart on that call I made from Afghanistan.

I would have paid airfare to have the scum put in jail locally. Being released from here with no friends or family around would have given him some of the pain I felt.

 

 

Possibly you could have subpoenaed the info if you were going through small-claims court?

Posted

Not sure if that is sarcasm but if not and you are speaking of "XX% Cash Back", nah. All cash back is is basically lower interest. You are still paying the CCc. Example, you spend 100 a month, your interest is 10% and cash back is 2%. You had to pay them 10 and they gave you 2 back. Unless you can get a higher cash back than your interest rate you always lose.

As Rob said though, for travel protection you cant prepaid debit cards. One time fees of 5-10 bucks (for the first month of service) and not only do you get normal fraud protection but there is only a small amount they can snag.

If you get a decent CC early in life though you can't be age it can add to your credit history since you never have to close it.

 

I have a card where there is a grace period. I pay it back in full every month and it gives me 1-5% cash back. I don't use it anymore because it's too annoying to have that amount hit the account once/month in one go but it was nice when my job involved a lot of expensable items.

Guest TankerHC
Posted

Straight from the horses mouth (FICO):

http://www.myfico.com/Downloads/Files/myFICO_UYFS_Booklet.pdf (page 7, highlighted, bullet 3)

 

 

 

I think your correct. Go ahead and take your advice from myfico, the people who invented fico and are owned by the people who make money keeping you in debt telling you to stay in debt. Yep, best advice I ever heard.

 

Think Ill stick with the Fair Credit Reporting Act.,

Guest Keal G Seo
Posted

I think your correct. Go ahead and take your advice from myfico, the people who invented fico and are owned by the people who make money keeping you in debt telling you to stay in debt. Yep, best advice I ever heard.

 

Think Ill stick with the Fair Credit Reporting Act.,

I am quite familiar with the FCRA as well. All that is is your rights with regards to your credit report. Has nothing to do with your score directly, indirectly it allows you access to, the ability to dispute and prevents out of date/unverifiable things from being on it. "MyFICO" is run by the people that lease an algorithm (the FICO score) for determining what your credit worthiness is to the majority of lenders. IE We made the math problem and can tell you how to get a better score. They make their money whether you are in debt or not, businesses pay them to use that algorithm. They are not the only ones that use this either, all three major reporting agencies also have it in their own algorithms.
As I stated, I have been repairing really stupid stuff from my first couple of years with the power of a signature. I am quite fimiliar with the entire process given I have gone from a 490 when I first started to find out what a credit score was, to a 718 today. Hopefully soon will be breaking that 720 mark where I can lay off for a while.

Guest TankerHC
Posted

I am quite familiar with the FCRA as well. All that is is your rights with regards to your credit report. Has nothing to do with your score directly, indirectly it allows you access to, the ability to dispute and prevents out of date/unverifiable things from being on it. "MyFICO" is run by the people that lease an algorithm (the FICO score) for determining what your credit worthiness is to the majority of lenders. IE We made the math problem and can tell you how to get a better score. They make their money whether you are in debt or not, businesses pay them to use that algorithm. They are not the only ones that use this either, all three major reporting agencies also have it in their own algorithms.
As I stated, I have been repairing really stupid stuff from my first couple of years with the power of a signature. I am quite fimiliar with the entire process given I have gone from a 490 when I first started to find out what a credit score was, to a 718 today. Hopefully soon will be breaking that 720 mark where I can lay off for a while.

 

I honestly dont care and dont even know why I bothered replying.

 

What I am surprised at (But shouldnt be), is how many people on here have been skimmed and ripped off. I know they say ID theft and CC theft are the two biggest issues facing consumers, but after my OP, I didnt realize its so many people. Those guys overseas must be fricken billionaires.

Posted (edited)

Keep em maxed out that way there is no money available for them to steal.

 

If I maxed out mine, doubt I could afford the first minimum payments.

 

- OS

Edited by Oh Shoot
Guest TresOsos
Posted

The only problem with paying it off every month is that you don't get the credit boost you should. Ideally you should keep 15-20% of the credit limit charged on the card. Been busting my arse on building my credit back up for about 8 years now and this is repeated over and over everywhere.

Well someone is telling you big one, I have paid mine off on time or before every month for 30 + years and my credit rating has never suffered from it.

I also get cash back points every month and haven't paid a pennies interest in 30 plus years.

Guest Keal G Seo
Posted

Well someone is telling you big one, I have paid mine off on time or before every month for 30 + years and my credit rating has never suffered from it.

I also get cash back points every month and haven't paid a pennies interest in 30 plus years.

I never said it hurts you. I said it doesn't help your credit to keep a zero balance...and it is true. The mathematical calculation used to determine your "credit score" includes in the formula a place for open revolving credit vs credit limit...to get the optimal score that number needs to be between 15 and 20%.

I am also not arguing that you can get cash back for nothing anymore since taking zero interest into account can make that possible.

Bottom lines here: 1. Yes you can get cash back for nothing. 2. Keeping your cards payed off before interest is calculated is reducing the maximum score you COULD have. 3. This is all off topic and if you would like to discuss it further PM me and I will be glad to furnish you with plenty of literature validating my points that I have accumulated over the past 8 years of repairing horrible credit.

Guest Lester Weevils
Posted
I don't know whether the credit rating agencies can tell the difference between one fella who keeps a perpetual debt of $1000 on a card versus another fella who spends $1000 every month on the card and pays that off monthly.

The individual card companies can figure it out, and they prefer the fella with the perpetual float because they make more money off him as long as he keeps paying. Lots better profit than investing in government bonds.

I borrowed money to buy a little house adjoining my house a couple years ago, and the mortgage company paid off one of my credit cards for a few hundred dollars and added it into my loan to make it "look better" to their head office bean counters, that I didn't have any outstanding balance on that card.

But I had already paid that balance, as I do every month, so they had to cut me a piddling check for the money they paid by accident to make the stupid loan application "look better". That was after the 2008 mortgage crash and they were under pressure to make any new loans look real "squeaky clean solid" or whatever.

If the credit surveillance numbers are at all detailed, then this routine monthly churn on my card wouldn't have looked to their system to be an "outstanding debt" to clean up.

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