Credit Card Woes

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Montrose Budie
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Joined: Sat Dec 11, 2004 11:37 pm

Credit Card Woes

Post by Montrose Budie » Mon Mar 02, 2009 6:30 pm

When we experienced an attempt last September one Monday morning at 00:02 hours to debit a ca. £600 web purchase to our Goldfish credit card, we were impressed that the credit card company picked up immediately on this transaction as being 'unusual', and blocked it; as well as blocking any further transactions on the card.


OK, that meant that we had to wait for 10 days for new cards, but that's life! Never all the subsequent hassle, not least in terms of all the subscriptions that you'ld forgotten about where this card had been used .... :( , and which continued to 'come out of the woodwork' over the succeeding months :shock:


At the time, our reaction was sanguine, on the basis that, sooner or later, you're bound to experience such a situation.


That was my reaction until a few hours earlier today, when I received an automated telecon from Barclaycard questioning the last 5 debits on the cards, totalling something like £2,500 over the last 7 or 8 days, all of which were fraudulent.


A subsequent telecon with a 'real person' resulted in the info that the fraudulent transactions stretched back over a longer period, and a total of something like £4,500.


Hopefully, all will be sorted out and all these fraudulent transactions cancelled, but you can well imagine that we're now a bit more than leary about www based credit card transactions; or credit card transactions of any type at supermarkets (and their petrol stations!), etc., given all the recent publicity regarding the illegal 'capture' of card details at such outlets.


We're less than impressed, obviously, based on previous reassurances from the credit card company over how quickly their software picks up questionable transactions !

Yes, of course, we're aware of the benefit of always looking for 'https' payment websites.

But does that now mean that we shouldn't buy anything on line unless the website involved has 'https protection' ?

mb

Currie
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Joined: Fri Jun 22, 2007 3:20 am
Location: Australia

Post by Currie » Tue Mar 03, 2009 5:11 am

Hello David,

I used to worry about credit cards but then I got myself a Debit Card and now I don’t worry as much. It’s a Visa Card and it’s linked to a single account at a Building Society and you can’t draw out any more than what is in the account and you can even set a maximum single withdrawal amount if you wish.

I keep the balance at about A$1,000 (UK£450?) and top it up online from another account. I use this Debit Card for internet purchases etc and it’s a lot safer than having my main account vulnerable to access by the Beagle Boys or whatever. http://media.weirduniverse.net/beagle_Boys.jpg

But if a Debit Card isn’t an option would a second Credit Card with a very low credit limit be a practical proposition for Internet purposes?

It’s hard enough trusting the Banks let alone the Internet.

All the best,
Alan

trish1
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Joined: Mon Dec 26, 2005 3:38 am
Location: australia

Post by trish1 » Tue Mar 03, 2009 12:55 pm

I worry more about offline transactions with a credit card, than online. I have heard many problems folks have had after travelling to foreign climes & one suggestion is to quickly replace the card on your return home.

I have a visa and my credit card has guarantees re online transactions provided one uses the secure websites only. I would never use anything else, nor put credit card details in an email. When I wish to buy from a site that does not have secure online transactions, I phone them (including those in different countries) with CC details, then send the order details in the usual online way.

I find more safety with a credit card, than a debit card. Getting a refund from a bank always seems more difficult than from a CC company.

I also use online banking & check credit and debit accounts at least once a week. I think many of the guarantees re fraud have time limits attached.

Touch wood, the only problem I have had to-date was when my cc account received someone else's payment. Took me 3 months to convince them to take the money back!

Trish

Hi Currie

My daughter runs one of those debit visa cards - stops her spending what she cannot afford, yet on the net it has the same security as a credit card. We like them too.

marilyn morning
Global Moderator
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Joined: Sun Dec 12, 2004 1:45 am
Location: Rhode Island, USA

Post by marilyn morning » Tue Mar 03, 2009 1:32 pm

Hi All,

Simple solution

http://soundmoneytips.com/article/41938 ... edit-cards

Regards
Marilyn

trish1
Posts: 1320
Joined: Mon Dec 26, 2005 3:38 am
Location: australia

Post by trish1 » Tue Mar 03, 2009 3:08 pm

marilyn morning wrote:Hi All,

Simple solution

http://soundmoneytips.com/article/41938 ... edit-cards

Regards
Marilyn
Hi marilyn

Paypal's not my favourite - the others may be OK - but I'm happy using my credit card, with a little common sense on the net - as I said, safer than using it in certain countries.

I guess everyone has their methods for security - I check my transactions and only use secure sites.

Trish

marilyn morning
Global Moderator
Posts: 3098
Joined: Sun Dec 12, 2004 1:45 am
Location: Rhode Island, USA

Post by marilyn morning » Tue Mar 03, 2009 3:20 pm

Hi Trish,

What I'm talking about is a Virtual Credit Card. Once the software is downloaded (from your bank) a one-time credit card number is issued each time you make a purchase.

Regards
Marilyn

christopherpm
Posts: 8
Joined: Thu Aug 06, 2009 10:13 am

Post by christopherpm » Sat Aug 08, 2009 9:28 am

I have a couple of thoughts here. First of all, I always use a credit card over a debit card for internet purchases. If something goes wrong with your purchase, you'll more than likely be able to get the money back - whereas if you use a debit card, you won't. If you're worried about running up the card bills - don't - simply transfer the money that you spent on the credit card, from your bank account to the card account - that way, the card balance can be kept at zero.

Secondly, you could always look at getting a pre-pay credit card - they are designed more for people who cannot get a "regular" credit card. You just pop into a post office or somewhere, and pay cash onto the card. I'm not sure whether or not you'd have the same kind of cover that you would get with a regular card, but I would imagine so.