Credit card fraud -- protect yourself!

[Lug_Nut]

We (Mrs. and I) are living off the bank issued ATM/debit card as we've been prodded into cancelling and re-opening our credit card due to unauthorized transactions in California for two sessions of online peer-to-peer 1st person shooter video games.
Both charges were disputed, both have been removed, but this required that we close the existing account and open a new one. The cards arrived a week ago, but we haven't been able to activate them yet.
They require activation from the home phone and our phone (as well as electric power, heat, well pump, cable, internet, even the nearby cell tower) have been out since the ice storm last Thursday.

I'm currently at the office working hard(ly).

[theholycow]

Call to activate from any phone. They will probably have an alternate procedure available that doesn't authenticate based on your phone number.

[GasSavers_BEEF]

most of my stuff was in new jersey (a long ways from me) and one was to a web site in CZ. I think it is czecoslovacia (I know, I can't spell)

regardless of that, we plan to be much more careful with online purchases and only plan to use credit card and not debit card for that. It does have the same protection but you are losing money you had and not money you owed. it is a strange way to say it but when it happens to you, it makes more sense.

[Snax]

I rarely have enough money in my bank account to worry about it. Plus, when it happened to me, my credit union was very responsive to my notice of fraud and instantly granted me provisional credit for funds taken. I still occassionally use my debit card at certain well trusted sites, but I try to make most purchases by credit card as well. After all, when it's their money that's missing, banks tend to care a bit more.

[theholycow]

Originally Posted by Snax

I rarely have enough money in my bank account to worry about it.

That strategy doesn't work...do you know how much overdraft fees cost? If one unexpected transaction puts you over, every transaction after that (no matter how small) triggers another overdraft fee.

After all, when it's their money that's missing, banks tend to care a bit more.

That strategy works a lot better.

[Snax]

Originally Posted by theholycow

That strategy doesn't work...do you know how much overdraft fees cost? If one unexpected transaction puts you over, every transaction after that (no matter how small) triggers another overdraft fee.

Agreed, but my credit union was very cooperative on that issue as well. Besides, if you are proactive about it and notify them immediately, your liability is nil and can ultimately be pushed back onto the vendor who failed to adequately check the fraudster's identity. In that respect, it makes no difference whether it was debit or credit.

[GasSavers_BEEF]

the difference there lies in time. with a credit card, your money doesn't exist so you are done. with a debit card, your money will get back to you....eventually. I learned that one the hard way.

I think holycow is talking more about if your wife were to make a purchase that you didn't know about (say a christmas presant for you) and you continued to use your debit card and you were that close to having no money in your account.

buddy of mine (when I was in high school) got separate check books for both his wife and himself (he was older than me and out of highschool). they both knew that they could only spend up to half of what was in there safely. they both thought they could go a little over that and be safe. the problem was that they both did that at the same time. problems insued.

I personally have one check book and one debit card in my house. that way, those particular problems don't come up.

at the same time (to agree with snax) you make more interest in a money market account than you ever will in a checking account.