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Credit and debit card security ....


 
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Crazy Horse
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PostPosted: Sat Jan 12, 2019 6:18 am    Post subject: Credit and debit card security .... Reply to specific post Reply with quote

Funny how things move from one extreme to something else and then back again. Credit and debit cards for example. For years and years cards were open to being used by someone else with no additional security features, the thief could just use it at their will. Then they bring in the 4-digit security PIN number. Made sense to me, maybe even change it now and then to beef things up a bit. Now the option you have is to "tap" the card, no PIN # or ID needed. I know there is some kind of a tap limit but still, a guy wonders. Maybe we were all in too much of a rush to enter a PIN number so tapping sped things up. What other reason would there be?
 
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Michael Soldan
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PostPosted: Sat Jan 12, 2019 6:59 am    Post subject: Re: Credit and debit card security .... Reply to specific post Reply with quote

If someone steals your card they can walk up to a cash out and tap your card and pay for their goods with your money. Isn't that handy for thieves !!!!
 
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sourgum
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PostPosted: Sat Jan 12, 2019 7:46 am    Post subject: Re: Credit and debit card security .... Reply to specific post Reply with quote

Our debit/credit card has double layer protection, a microcode electronic id device embedded in the card, then a security pin number has to be entered in addition to activate the card. If the card is stolen it is worthless without knowledge of the pin number. There is no tap device on our cards. This must be some new technology.
 
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Crazy Horse
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PostPosted: Sat Jan 12, 2019 7:58 am    Post subject: Re: Credit and debit card security .... Reply to specific post Reply with quote

Relatively new I think, everyone seems to use it, I do now and then. I asked my wife (who does all that stuff with our finances) and she doesn't think a person has to give approval to get that tap feature. Actually it's tap or swipe, some machines just have a swipe reader. The newer ones you just show the little screen the hologram on your car and it transacts. Somehow I would think that you would have to want or approve that feature and not have it otherwise, I'm going to do some web Goggling and see about that.
 
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Crazy Horse
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PostPosted: Sat Jan 12, 2019 8:06 am    Post subject: Re: Credit and debit card security .... Reply to specific post Reply with quote

If I am reading this link below here correctly, sounds like there might be an option on a debit card to turn the feature off but not on a credit card. I just went through it once quickly. It refers to Mastercard and Visa, probably the most common cards I think, along with some others.
Untitled URL Link

 
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1948CaseVAI
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Location: Wichita, KS

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PostPosted: Sat Jan 12, 2019 9:43 am    Post subject: Re: Credit and debit card security .... Reply to specific post Reply with quote


It is ingenious and wonderful technology for those of us who hurry a lot. However, it is not intended for large purchases - mostly for places like Starbucks where the total is under $30 or $40 and you are generally rushing. If you feel uncomfortable you can get a metal RFID blocking card holder that fits in your wallet.
 
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jimg.allentown
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PostPosted: Sat Jan 12, 2019 3:10 pm    Post subject: Re: Credit and debit card security .... Reply to specific post Reply with quote

If a fraudulent purchase is made on your card without your authorization, the card issuer is responsible for all but the first $50 as I understand it.

Bear in mind that if you make a shopping trip[ out of your normal area, you may get a phone call from the issuing bank asking if the purchase(s) are authorized. I know that I went with my lady to the Philadelphia outlet stores in Limerick, Pa. After the first purchase, she got a call from the bank asking if the purchase was legit. Then they told her that her card "may have been" compromised and they were shutting it off.

These days, banks and stores are becoming more and more intrusive. I went to the bank to deposit my quarterly dividend check from my one lonely little stock. The next day, I get a call from the bank's head office wanting me to do a survey about how my visit to the bank was yesterday?!?!?!? I had a few choice words for them. I asked the survey taker if I was going to be asked to do a survey for every time I visited that bank. You could hear the red face at the other end. I respectfully asked them not to call me again for such trivia.

Now, the local chain pharmacy calls me 3 times a day to ask if I want to refill a prescription now. I'm ready to pay them a visit and tell them to take my name off their list of folks to call.
 
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jimg.allentown
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PostPosted: Sat Jan 12, 2019 3:14 pm    Post subject: Re: Credit and debit card security .... Reply to specific post Reply with quote

One thing I forgot to add.

Every time you use a check, credit card, or debit card, you are giving your account information to the merchant you are dealing with. The only safety there you have is dependent on the honesty of the merchant and the force of law if they violate your trust. the only other way is to pay cash.
 
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whereswaldo
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PostPosted: Sat Jan 12, 2019 3:17 pm    Post subject: Re: Credit and debit card security .... Reply to specific post Reply with quote

Michael, it sure is and if you use a debit card, you're out the money. Don't have a debit card because of this. Credit card will back you up and limit what you could lose to $50.00
 
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8850dave
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PostPosted: Sun Jan 13, 2019 5:42 am    Post subject: Re: Credit and debit card security .... Reply to specific post Reply with quote

Well in Sandwich Illinois a Mobil gas station was found to have those card readers inside the gas pumps for nearly 6 months on 4 pumps.
 
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