Credit Card No. Stolen ?

[MasterSolenoid]

Recently I made a purchase online and paid using my Credit Card.
Yesterday I get a letter (USPS) from the Retailer saying their computer system was hacked and my C.C. # may have been stolen.

Maybe I'm getting old, or because of all the precautions I have taken over the years, but it did not bother me.
I figure protecting your identity is the new way of living.

What helped is:
1) Freezing Credit Reports at (5) Agencies
2) Reviewing C.C. Statements Monthly (and all financial statements)
3) Every web-site I'm registered on has a different password

I will be a little cautious for awhile, but,
Life goes on.

 

[SZR48207]

Compromised systems are almost a weekly thing at this point.

 

[Schmoe]

Credit freeze is a great thing to do. I've done that to all of ours. Thing is, don't lose those PIN's.

 

[Hall]

Why not just get a new credit card (number) ? If your card provider determines your card was part of this "list", they may force a new card on you anyway. That happened with my wife's card after the breach of Target's system.

 

[Donald]

Originally Posted by hallstevenson
Why not just get a new credit card (number) ? If your card provider determines your card was part of this "list", they may force a new card on you anyway. That happened with my wife's card after the breach of Target's system.


You should tell your bank and ask for a replacement card.

 

[csandste]

Keep warning my kids to use credit rather than debit cards for this reason. Credit cards have great laws protecting loss. If a debit card was hacked your bank account could be drained and you'd have far fewer protections. Multiple times I've been sent debit cards from my credit union and have to take them down, cancel them, and get them replaced with an ATM card.

Credit Karma is a great way to check credit card activity. New applications, changes, are tracked immediately. I also try to check my card sites weekly.

 

[Hall]

Originally Posted by Donald
Originally Posted by hallstevenson
Why not just get a new credit card (number) ? If your card provider determines your card was part of this "list", they may force a new card on you anyway. That happened with my wife's card after the breach of Target's system.


You should tell your bank and ask for a replacement card.

Did you mean to quote the OP and not me ?

 

[benjayman227]

"There are only two types of companies: those that have been hacked and those that will be."

- Robert Mueller in 2012, riffing on an earlier quote by Dmitri Alperovitch in 2011 (emphasis mine)

 

[PimTac]

A very good reason to use a system that tokenizes your CC number. Apple Pay is one such system.

 

[alarmguy]

Originally Posted by csandste
Keep warning my kids to use credit rather than debit cards for this reason. Credit cards have great laws protecting loss. If a debit card was hacked your bank account could be drained and you'd have far fewer protections. ...


^^YES^^
Its the banks/credit card company problem if your credit card number is stolen, not yours, it won't cost you a penny. If I was the OP I would not be the least bit concerned even though, yes, its a bit unsettling and if he wanted he can call his CC company and let them know about the letter, they will most likely send out a new card if they think they should.

Its your problem if your debt card is used and will be your problem to get it fixed and your problem to have the bank restore the money.

Credit cards are the way to go if you're looking to protect yourself.
Also as another has mentioned lock your credit with the major credit score companies. (and some minors if you wish) One of the minors is Innovis

 

[Hall]

Originally Posted by alarmguy
Its your problem if your debt card is used and will be your problem to get it fixed and your problem to have the bank restore the money.

Get a better bank (haha !!) or credit union. That's not always the case. My credit union protects debit cards the same way credit cards are protected. Of course, I hope I never have to put this to the test but it is their policy.

 

[alarmguy]

Originally Posted by hallstevenson
Originally Posted by alarmguy
Its your problem if your debt card is used and will be your problem to get it fixed and your problem to have the bank restore the money.

Get a better bank (haha !!) or credit union. That's not always the case. My credit union protects debit cards the same way credit cards are protected. Of course, I hope I never have to put this to the test but it is their policy.


I believe you and as far as your debt card, though I am skeptical doesn't matter.

1. The public in general is doing a disservice to themselves using their debit card because it is their problem if someone drains their back account. They will need to prove they did not withdraw the money and everything is up to them to straighten out.

2. When people use charge cards they have zero concerns if their card or card numbers are stolen because its the credit card/banks problem. Your account is instantly credited for the fraudulent charges, done finished, no concerns and they mail you out a new card with new numbers, sometimes even overnight mail.

 

[ZeeOSix]

Originally Posted by alarmguy
The public in general is doing a disservice to themselves using their debit card because it is their problem if someone drains their back account. They will need to prove they did not withdraw the money and everything is up to them to straighten out.


My credit union issued debit card is protected from fraud just like my Visa card. Must be something the credit union is covering. I was kind of surprised when I read that with the info that came with my debit card. I still use my Visa card 99% of the time.

 

[Pew]

Originally Posted by ZeeOSix
Originally Posted by alarmguy
The public in general is doing a disservice to themselves using their debit card because it is their problem if someone drains their back account. They will need to prove they did not withdraw the money and everything is up to them to straighten out.


My credit union issued debit card is protected from fraud just like my Visa card. Must be something the credit union is covering. I was kind of surprised when I read that with the info that came with my debit card. I still use my Visa card 99% of the time.


Same with my debit and credit card. If they notice an unlikely charge, normally high or something that doesn't match a pattern (like being charged at a gas station in Arizona when I used it a few hours before in Illinois) they'll stop the charge and call me. In fact, most big banks I know do the same and I've never had to provide proof yet; I just tell them I was at work during the specified time.

 

[LoneRanger]

Absolutely do not sweat a credit card hijack. A credit card is just fronting the bank's money, all you do is eyeball the monthly bill and pay them back, and dispute any fraudulent charges. Debit card, it is your money that gets taken when the card number is compromised, but the bank has to reimburse your acct that money when you notify that the transaction is fraudulent. They have up to five days however to reimburse however and in the mean time if you run your balance close to nil it can cause all manner of headaches when your legit automatic charges start bouncing until the stolen money is restored. The bank may incur the loss or the merchant, depending if a chargeback can be issued.

It continues to happen in this country because it's allowed to. They can shut down card fraud by 66% or more by eliminating the magnetic strip and making all card- present transactions chip and PIN entry only. That is scheduled to go into effect October 15, 2020. It was originally set to begin on October 15, 2017 but it got pushed back because certain retail sector merchant associations (I'm looking at you, retail fueling sector) cried and whined that their members could not update their point of sale infrastructure in a timely enough manner so Visa MasterCard caved and set it off three more yrs.

 

[ArrestMeRedZ]

FWIW my nephew had his debit card hacked. He was living in and.present in Las Vegas. The individual who drained his account did so in a Home Depot in Wisconsin. He disputed the charges and the funds were returned. The HD manager reviewed the available video of the transaction, insisted it was done by him, and had the funds withdrawn again. Upon viewing the video, nephew determined the perpetrator was a short female. Nephew was a 6' 4" 280# college football playing lineman. Home Depot manager still insisted nephew completed the transaction. Apparently there was no downside for the manager for lying like there would be for the store if they had to eat the loss.
It eventually was straightened out (it took almost 6 months) but it did cause a significant financial hardship in the meantime for the nephew.

While debit cards have protections the big difference between them and credit cards is they use your money rather than someone else's. The burden of proof can be on you rather than the merchant. I suspect the bank (in this case Citi Bank) and your relationship with them (poor college student vs. high earner for instance) may be a factor.