Identity theft

[Ban Hammer 12,835]

[quote name='charlesandnessa' post='1770754'

It was done on my debit card.

pretty much why i don't use them things. a credit card would give you more protection plus it's not gone from your account. is your checking account with usaa yet? you can get a credit card from them quite easily, and then just transfer online money from the checking account to the credit card. i've not sent them a payment in over 10 years now via the mail. you can also call in and have money transfered that way too.

I have my auto insurance through USAA and their cust. service is really top-notch. Unfortunately they really can't compete with my bank for interest rates.

I will look into them again though, and see what the difference would be between them and my credit union for a credit card.

I will definetely have to get a credit card either way it seems. It sucks, cuz the debit card is just so damn convenient.

while their interest rate on their checking accounts probably isn't as good, the ability to move money around like i depicted above is worth it. and besides, who gets rich on interest on their checking account?

debit cards are pretty much like a credit card in the way of convenience, until something like this happens. then it becomes a nightmare. i opt for the protection of a credit card and pass on the debit card.

eta: credit card interest rate is currently 6.0%

Edited April 20, 2008 by charlesandnessa

[mRx 16]

[quote name='charlesandnessa' post='1770754'

It was done on my debit card.

pretty much why i don't use them things. a credit card would give you more protection plus it's not gone from your account. is your checking account with usaa yet? you can get a credit card from them quite easily, and then just transfer online money from the checking account to the credit card. i've not sent them a payment in over 10 years now via the mail. you can also call in and have money transfered that way too.

I have my auto insurance through USAA and their cust. service is really top-notch. Unfortunately they really can't compete with my bank for interest rates.

I will look into them again though, and see what the difference would be between them and my credit union for a credit card.

I will definetely have to get a credit card either way it seems. It sucks, cuz the debit card is just so damn convenient.

while their interest rate on their checking accounts probably isn't as good, the ability to move money around like i depicted above is worth it. and besides, who gets rich on interest on their checking account?

debit cards are pretty much like a credit card in the way of convenience, until something like this happens. then it becomes a nightmare. i opt for the protection of a credit card and pass on the debit card.

eta: credit card interest rate is currently 6.0%

Yeah I was referring to the interest I pay them, not the interest they pay me. But 6% sounds doable to me.

When I was shopping for my auto loan, USAA wouldn't go lower than about 7.5% for me, and my current bank blew that out of the water with 5.24%.

It seems like I will need to get a credit card though. I have always tried to avoid them though, simply because of the small print. (i.e if your 30 days late, the APR will be 28.89%) Of course, I've always been responsible in paying things on time, so I guess I won't have a problem. I'll shop around though for the best rates. Thanks Charles.

[natty bumppo 289]

[quote name='charlesandnessa' post='1770754'

It was done on my debit card.

pretty much why i don't use them things. a credit card would give you more protection plus it's not gone from your account. is your checking account with usaa yet? you can get a credit card from them quite easily, and then just transfer online money from the checking account to the credit card. i've not sent them a payment in over 10 years now via the mail. you can also call in and have money transfered that way too.

I have my auto insurance through USAA and their cust. service is really top-notch. Unfortunately they really can't compete with my bank for interest rates.

I will look into them again though, and see what the difference would be between them and my credit union for a credit card.

I will definetely have to get a credit card either way it seems. It sucks, cuz the debit card is just so damn convenient.

while their interest rate on their checking accounts probably isn't as good, the ability to move money around like i depicted above is worth it. and besides, who gets rich on interest on their checking account?

debit cards are pretty much like a credit card in the way of convenience, until something like this happens. then it becomes a nightmare. i opt for the protection of a credit card and pass on the debit card.

eta: credit card interest rate is currently 6.0%

Yeah I was referring to the interest I pay them, not the interest they pay me. But 6% sounds doable to me.

When I was shopping for my auto loan, USAA wouldn't go lower than about 7.5% for me, and my current bank blew that out of the water with 5.24%.

It seems like I will need to get a credit card though. I have always tried to avoid them though, simply because of the small print. (i.e if your 30 days late, the APR will be 28.89%) Of course, I've always been responsible in paying things on time, so I guess I won't have a problem. I'll shop around though for the best rates. Thanks Charles.

what charles said about USAA ... I'll second

[*JG* 2]

I wish someone would steal my identity, so they could pay all these bills!

All kidding aside, I'm so sorry Matt. I hope you get it fixed.

[Jack and Barbara 0]

Well, I just found out that I spent $600 at Nordstroms while I was sleeping today.

Ain't that fukcin great?

Nordstroms is a little pricey for me. It wouldn't take long for my bank to figure out that it was bs.

There's a law to limit liability on credtt cards from fraud to $50, though that doesn't take into account the time it takes to get your credit fixed and to clean up the rest of the mess.

[mRx 16]

UPDATE:

The fraudulent charges were made using DEBIT and my PIN!

Sounds like an act of God, considering my card never left my possession and I have shredded every statement I have gotten.

The plot thickens....

[Marilyn. 340]

i would think the debit card would be harder for someone else to use because you need to enter the PIN number... whereas a credit card you don't have to....

[Dan J 277]

i would think the debit card would be harder for someone else to use because you need to enter the PIN number... whereas a credit card you don't have to....

Some people call a check card, a debit card as well. That does not need a pin and functions much like a credit card.

UPDATE:

The fraudulent charges were made using DEBIT and my PIN!

Sounds like an act of God, considering my card never left my possession and I have shredded every statement I have gotten.

The plot thickens....

Have you used it at ATMs? Thats probably the easist place to clone a card and get the pin.

[Marilyn. 340]

i would think the debit card would be harder for someone else to use because you need to enter the PIN number... whereas a credit card you don't have to....

Some people call a check card, a debit card as well. That does not need a pin and functions much like a credit card.

yeah we have a check card but ours has a pin number...

[tom&tata 2]

i would think the debit card would be harder for someone else to use because you need to enter the PIN number... whereas a credit card you don't have to....

But the credit card offers more protection. I had 2 unauthorized charges on my credit card & I just charge back to the credit card company - they took it out of my account right away & I never those charges appearing again. Whereas with debit card, the money is already taken from your account while you are waiting for the outcome.

I usually try to use credit card as much as I can - for the protection & for the cashback/point.

[Dan J 277]

i would think the debit card would be harder for someone else to use because you need to enter the PIN number... whereas a credit card you don't have to....

Some people call a check card, a debit card as well. That does not need a pin and functions much like a credit card.

yeah we have a check card but ours has a pin number...

So does mine, but i dont need to use the pin number when purchasing anything, just when accessing ATM's

[DeadPoolX 9]

i would think the debit card would be harder for someone else to use because you need to enter the PIN number... whereas a credit card you don't have to....

Well, the interesting thing about Debit Cards in the U.S. is that you don't necessarily need a PIN number for purchases, but you can use one, if you wish. I know that sounds odd, but in many cases, the store or even online vendor you're buying from can run the Debit Card through just like a Credit Card, without you ever having to enter a PIN.

Why would you want to do this, when it's potentially less secure? The answer is there's sometimes a fee assoicated with some purchases with Debit Cards, whereas there isn't one with Credit Cards. So when buying something at a store for instance, I can swipe my Debit Card and it'll ask for my PIN. All I have to do then is press "CANCEL" on the LCD display and then tell the machine to run the card as a Credit Card instead and it does so.

Unfortunately, what this means is that anyone who got ahold of this card illegally could do the same as well. Since there are no safety measures in place for Debit Cards like there are with Credit Cards (mostly because you're using the Credit Card company's money and then paying it back; not because they actually "care" about you), you could be screwed out of a lot of money if that account attached to the Debit Card has a lot in it.

Once again, I know this sounds weird and may make you wonder why Debit Cards even exist (many Americans often wonder the same thing, which is why Credit Cards are generally so much more popular here) since there doesn't seem to be very many benefits to using them -- except, perhaps, avoiding debt. Perhaps if something like Interac was instituted here in the United States, Debit Cards would become more worthwhile, but until then, there's not a whole lot of point.

[~Laura and Nick~ 5]

Matt...this scam just took place in my town in Southern Ontario.

People were working from the inside out.

They have a machine that when you swipe your ATM/Debit card, it captures your cards information. It's placed underneath and sometimes inside the real area where you swipe your card. They also install a tiny pin hole sized camera just above the key pad, so they film you entering your 4 digit pin.

Perhaps this is the same thing going on in your area.

Sorry this happened to you

[mRx 16]

i would think the debit card would be harder for someone else to use because you need to enter the PIN number... whereas a credit card you don't have to....

Some people call a check card, a debit card as well. That does not need a pin and functions much like a credit card.

UPDATE:

The fraudulent charges were made using DEBIT and my PIN!

Sounds like an act of God, considering my card never left my possession and I have shredded every statement I have gotten.

The plot thickens....

Have you used it at ATMs? Thats probably the easist place to clone a card and get the pin.

The last time I used an ATM was on the Air Force Base, using the ATM at the bank here.

[Dan J 277]

i would think the debit card would be harder for someone else to use because you need to enter the PIN number... whereas a credit card you don't have to....

Some people call a check card, a debit card as well. That does not need a pin and functions much like a credit card.

UPDATE:

The fraudulent charges were made using DEBIT and my PIN!

Sounds like an act of God, considering my card never left my possession and I have shredded every statement I have gotten.

The plot thickens....

Have you used it at ATMs? Thats probably the easist place to clone a card and get the pin.

The last time I used an ATM was on the Air Force Base, using the ATM at the bank here.

Try to remember the last several times you have used an ATM. Its possible that the atm that captured your data you had visited several months prior to the fradulant transactions.

There are two ways to get card users data from an ATM. One is buying an ATM yourself and setting it up somewhere and getting the data that way. The other is modifing an existing atm to capture the magnetic strip data and your pin.