I probably receive 10 calls a year from my credit union about charges. I just confirm that they’re my charges. The one thing that seems to trigger them the most is when I purchase a large item (over $400) and the company I’m buying from first does a $5 transaction to see if the car is legit. Then another charge for the remaining balance. Don’t know why some companies still do this. My credit union has a nice feature - I can notify them when and where I’m taking a vacation, so they their fraud detection algorithm doesn’t trigger on every out of state purchase. Every once in a while there actually will be a fraud charge. Credit union is right on it, and won’t make payment and not charging my account. The down side is they then issue me a new credit card with new number. Now I have to go to my online accounts (like Amazon and EZPass) and update my credit care info. Little inconvenience to help fight the almost $35 BILLION yearly credit card fraud.
In my case, they flagged a few perfectly legitimate transactions (and locked the card without letting me know) and missed a couple of fraudulent ones. Conspiracy? How about greed vulgaris plus equally vulgaris mismanagement? And yet some individuals still “think” that corp mafia should rule the world. Weird…
There used to be a similar feature with my CC company to proactively inform them of an impending trip where they would know my card was being used outside of my normal spending habits/area. Now, they see I have purchased airfare with the card and automatically update that status for me. I get an email from them informing me. Some will see that as yet another intrusion where I see it as a helpful move on their part. Protecting my assets and good credit rating is paramount to me.
I have gotten a text standing at the checkout for a high $ purchase of electronics. It’s my CC company asking if I am making a purchase. I click yes and away we go.
Several years ago, I got a call from the CC company asking if I had recently ordered something atypical. After a brief back and forth, the answer was no. They immediately canceled my card, the charge never even showed up on my account and they sent me a new card that came the very next morning before 10am. That’s service!
Yep, I agree. I’ll take that inconvenience over having a protracted fight to regain my funds and good standing.
Well, like any business, they are not all created equal. If you have a poorly performing CC company, why don’t you go somewhere else? There are options where you may find better service.
I pay off my balance every month so they get very little from me. And their service is exemplary so no complaints there either.
As long as people have collected into a society and used “money” to exchange goods and services, one thing has remained constant- that’s the golden rule. i.e. The people with the gold make the rules. That will never change as long as people are motivated to own/possess things…
Behind every great fortune there is a crime.
Onore de Balzac
Just an illustration: Einstein died poor while some w bush will die rich.
If “it’s not a crime to make money”, why the most fierce proponents of that “idea” are not fans of dealers? Unless, of course those drug dealers are big drugsters or hellcare providers?
Federal law limits the card owner’s responsibility to $50 for unauthorized usage. Shouldn’t be a problem. My brother had his wallet stolen when he was at gym working out. He noticed it right away. Within that hour of his wallet stolen and him notifying the credit card company the thieves purchased over $5,000 at Best Buy. All charges were wiped out in minutes.
Using Credit Cards and Disputing Charges | Consumer Advice (ftc.gov)
Not true, as far as I can tell.
Einstein did NOT die poor. He probably could have been far richer if he could commercialize some of his ideas. But he wasn’t poor by any means.
“Poor” is NOT a synonym of “starving” or “homeless”. The point is: Einstein’s value to the society was BIGLY greater than that of bush, gates, bezos, etc. COMBINED and yet - COMPARED TO ANY OF THOSE individuals - he DID die poor.
Should’ve clarified but thought it was obvious. My apologies.
Poor means poor. Not true for him.
Of course there are many rich people that didn’t contribute anything close to what some others do to society.
You reminded me of a situation that bears illustrating. An acquaintance on a trip lost their wallet and hadn’t yet realized it when they got a call from the “good Samaritan” that found it. Told them not to worry, they would immediately send it their way. Looking to avoid the hassles of reporting cards etc they trusted the person that called. This turned out to be a ruse to allow them time to rack up charges. The CC company called and the acquaintance relayed the story of what happened. CC says you didn’t report it immediately, we are not responsible- you are.
Wallets are especially concerning to lose as there is often practically everything you need to steal identity.
That’s crap from the credit card company. You don’t have to report it immediately. You may not have known your wallet was stolen for hours/days or in some cases - weeks.
He admitted he knew it was out of his control. You owe a responsibility to mitigate potential damage and report as soon as you know.
Poor describes having little of something. If you lack needed food and shelter, you’re poor, and if you fall below a standard or don’t even try, you’re giving a poor performance. Empty pockets and empty efforts both mean poor.
Rich or wealthy often serve as opposites of poor. If you have material things, you’re rich, and if you don’t, you’re poor. You can be full of knowledge but get poor grades if you’re not studying, or you might be poor in terms of money but rich in friends and kindness. Poor can also be used as a noun, as in “Charity is aimed at helping the poor.”
Agree many years ago some one got a hold of one of my CC#'s from a card I seldom used I still had the card but they found charges on it frorm all the big expensive stores in NYC and LONDEN in the UK that they knew I never made they canceled the card and sent me a new one with a dfferent number at no charge to me.
I had something similar. There were several bills charged to my credit card at a bar in Austria. I had never been to Austria at that time. I didn’t know about the charges until my credit card company contacted me. Since they were the only charges in Europe from me they figured that I didn’t make them and forgave the debts immediately. Apparently someone in the US obtained my credit card numbers and sold them online.
My CC was skimmed. Had five $99.00 charges on my bill, CC company removed the charges. Canceled my old card, sent me a new card with new number. I reset notifications to $50.00, I get an alert for any charge over $50.00. Got a letter from sheriff the guy was caught. A number of years ago, our sheriff was giving a presentation on identity theft, even he had his CC number skimmed!
Your liability on a stolen card ranges between zero to being fully liable for all charges. It depends on whether it’s a credit card, debit card, and how long it took you to report it.
The FTC has a good breakdown on it at their page, linked below.
Last Valentine’s Day my wife texted me and said we might have to shut down our Visa card. Seems someone was trying to make an $800 purchase at a jeweler so they declined the sale and notified the primary contact on the account.
Kind of ruined my surprise for her.
lol … at least you ended up w/a good story!
One of my relatives had a tendency to easily fall for phone-scams, and she was often dealing with time-consuming credit card problems caused by her telling someone confidential information. Usually it was a crook who cold-called her on her home phone pretending to be working at her bank or credit card company.