Comments on: Do NOT try to protect yourself from Credit Card Fraud http://marc-bourassa.com/2010/02/05/do-not-try-to-protect-yourself-from-credit-card-fraud Reality from Marc's point of view! Sat, 19 May 2012 06:10:34 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Marc http://marc-bourassa.com/2010/02/05/do-not-try-to-protect-yourself-from-credit-card-fraud/comment-page-1#comment-16052 Marc Tue, 09 Feb 2010 12:00:54 +0000 http://marc-bourassa.com/?p=1193#comment-16052 Thanks Carl, Yes, the mail (at least that with identity info) gets shredded. Amex has the triple whammy for me as a consumer of 1) an annual fee at least equal to my liability should there be a stolen card incident, 2) no cashback incentives that I'm aware of - my small but consistent 1% cashback for my current card is quite satisfying, and 3) the premium demanded of retailers for carrying the card means that I have to have a backup VISA or MASTERCARD in any case since the Amex card does not enjoy the universality of acceptance of the other two. Mine is a demographic that very few industries appreciate. The perks offered by most credit institutions are not compelling to me (air miles and "prizes"). My current card wins my business because I can understand what they offer me and they consistently meet that obligation with no fuss.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('16052','Marc'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('16052','Marc','Thanks Carl, \r\n\r\nYes, the mail (at least that with identity info) gets shredded.\r\n\r\nAmex has the triple whammy for me as a consumer of 1) an annual fee at least equal to my liability should there be a stolen card incident, 2) no cashback incentives that I\'m aware of - my small but consistent 1% cashback for my current card is quite satisfying, and 3) the premium demanded of retailers for carrying the card means that I have to have a backup VISA or MASTERCARD in any case since the Amex card does not enjoy the universality of acceptance of the other two.\r\n\r\nMine is a demographic that very few industries appreciate. The perks offered by most credit institutions are not compelling to me (air miles and \"prizes\"). My current card wins my business because I can understand what they offer me and they consistently meet that obligation with no fuss.'); return false;">Quote</a></div> Thanks Carl,

Yes, the mail (at least that with identity info) gets shredded.

Amex has the triple whammy for me as a consumer of 1) an annual fee at least equal to my liability should there be a stolen card incident, 2) no cashback incentives that I’m aware of – my small but consistent 1% cashback for my current card is quite satisfying, and 3) the premium demanded of retailers for carrying the card means that I have to have a backup VISA or MASTERCARD in any case since the Amex card does not enjoy the universality of acceptance of the other two.

Mine is a demographic that very few industries appreciate. The perks offered by most credit institutions are not compelling to me (air miles and “prizes”). My current card wins my business because I can understand what they offer me and they consistently meet that obligation with no fuss.

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]]> By: Carl http://marc-bourassa.com/2010/02/05/do-not-try-to-protect-yourself-from-credit-card-fraud/comment-page-1#comment-16016 Carl Tue, 09 Feb 2010 03:13:51 +0000 http://marc-bourassa.com/?p=1193#comment-16016 I hate to say this bro' but you should be using an Amex. I also had an issue with a stolen Visa (RBC was the issuer). I reported it stolen and it was used 4 days later and nothing was done about it. The bottom line: you should only have to give the minimum amount of information to make the tranaction work. I've never heard of a site needing the Social Security number or any part thereof (and, having lived in the UK, I know all about ridiculously stupid financial transaction safety measures). Amex has a very diligent and effective fraud group. The stop at point of sale when certain patterns show up (can be annoying) and will get your card and account back up in minutes. This is a serious issue but, for straight theft in the U.S.A., the card holder is only on the hook for $50. The real issue is identity theft - a much over marketed issue but one that can be really annoying if you don't take a few precautions (shred your mail!).<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('16016','Carl'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('16016','Carl','I hate to say this bro\' but you should be using an Amex. I also had an issue with a stolen Visa (RBC was the issuer). I reported it stolen and it was used 4 days later and nothing was done about it. The bottom line: you should only have to give the minimum amount of information to make the tranaction work. I\'ve never heard of a site needing the Social Security number or any part thereof (and, having lived in the UK, I know all about ridiculously stupid financial transaction safety measures). Amex has a very diligent and effective fraud group. The stop at point of sale when certain patterns show up (can be annoying) and will get your card and account back up in minutes. This is a serious issue but, for straight theft in the U.S.A., the card holder is only on the hook for $50. The real issue is identity theft - a much over marketed issue but one that can be really annoying if you don\'t take a few precautions (shred your mail!).'); return false;">Quote</a></div> I hate to say this bro’ but you should be using an Amex. I also had an issue with a stolen Visa (RBC was the issuer). I reported it stolen and it was used 4 days later and nothing was done about it. The bottom line: you should only have to give the minimum amount of information to make the tranaction work. I’ve never heard of a site needing the Social Security number or any part thereof (and, having lived in the UK, I know all about ridiculously stupid financial transaction safety measures). Amex has a very diligent and effective fraud group. The stop at point of sale when certain patterns show up (can be annoying) and will get your card and account back up in minutes. This is a serious issue but, for straight theft in the U.S.A., the card holder is only on the hook for $50. The real issue is identity theft – a much over marketed issue but one that can be really annoying if you don’t take a few precautions (shred your mail!).
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]]> By: Marc http://marc-bourassa.com/2010/02/05/do-not-try-to-protect-yourself-from-credit-card-fraud/comment-page-1#comment-15892 Marc Sun, 07 Feb 2010 15:40:31 +0000 http://marc-bourassa.com/?p=1193#comment-15892 Problem is, they change this all the time (necessarily so). And really, will anybody you are able to get in touch with really know (and reveal) how messed up their system is. My card's fraud folks are probably completely unaware that setting a fraud alert on my account and then resetting it still leaves me crippled for two or three more days afterwards.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('15892','Marc'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('15892','Marc','Problem is, they change this all the time (necessarily so). And really, will anybody you are able to get in touch with really know (and reveal) how messed up their system is. My card\'s fraud folks are probably completely unaware that setting a fraud alert on my account and then resetting it still leaves me crippled for two or three more days afterwards.'); return false;">Quote</a></div> Problem is, they change this all the time (necessarily so). And really, will anybody you are able to get in touch with really know (and reveal) how messed up their system is. My card’s fraud folks are probably completely unaware that setting a fraud alert on my account and then resetting it still leaves me crippled for two or three more days afterwards.
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]]> By: King http://marc-bourassa.com/2010/02/05/do-not-try-to-protect-yourself-from-credit-card-fraud/comment-page-1#comment-15890 King Sun, 07 Feb 2010 14:32:06 +0000 http://marc-bourassa.com/?p=1193#comment-15890 Perhaps you (I mean other readers of this blog) need to question your bank's fraud proceedures BEFORE doing business with them. My bank, if it detects something unusual with my credit card, THEY CALL ME and ask questions. Much better system.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('15890','King'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('15890','King','Perhaps you (I mean other readers of this blog) need to question your bank\'s fraud proceedures BEFORE doing business with them. My bank, if it detects something unusual with my credit card, THEY CALL ME and ask questions. Much better system.'); return false;">Quote</a></div> Perhaps you (I mean other readers of this blog) need to question your bank’s fraud proceedures BEFORE doing business with them. My bank, if it detects something unusual with my credit card, THEY CALL ME and ask questions. Much better system.
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