Credit Card Expert Blog

Credit Cards Rated for Fraud Still Needs Improvement

A new research study of the top 25 largest credit card issuers suggests many of those firms need to upgradetheir identity fraud prevention and detection tools tobetter serve consumers according to a story publishedby ComputerWorld.The story continues with the excerpts from a recentlyreleased study conducted by Javelin Strategy & Researchwhich found some of these deficiencies:56% of the 25 card issuers surveyed continue to requirefull Social Security numbers to help identify theircustomers, whether by phone, online or by mail.”This is a risky practice that unnecessarily increasesthe customer’s exposure to identity fraud,” the reportstates.Consumers are not allowed to set transaction limits orblock certain types of transactions using their creditcards, such as restricting card use to purchases onlymade with U.S. vendors, according to the study.In fact, only 24% of the surveyed card issuers allowconsumers to set so-called user-defined limits and/orprohibitions (UDLAPs) on their accounts to help preventunauthorized use, the study concluded.While more card issuers
now offer consumers e-mail ortelephone “transaction alerts” to advise them of accountactivity, the number of participating card companies isstill small — about 8%.So, our tip for today is to check what is really in yourwallet. Make sure to contact your credit card companyand inquire into what fraud prevention services theyoffer - most usually for free.We recently learned of major card provider whichuses account numbers as the default mode for accessingtheir online web site.The
consumer has to call the card issuer’s customer servicedepartment and request an alternate user id be setup forweb site access.In any event of “what’s in your wallet”, take proactiveaction to minimize your risk of becoming an easy targetfor identity theft

I’d like to have a debit card

I’ve got a “personal finance” question, I hope it’s the correct group
:)

I live in Belgium, I’ve got two bank accounts (one at ING [I used to be at BBL, which became part of ING], one at Fortis [I used to be at the "Generale de Banque" or something like that IIRC]).

First I’ve got a terminology question :

I do have cards from these two banks (one from each) allowing me to pay using “Proton”, allowing me to withdraw money at ATMs and allowing me to pay from the account (that is: I can pay either
with Proton or from the account).

Are these bankcards “debit cards“?

Anyway, now I’d like to have a debit card. I suppose this debit card will need to be ‘linked’ to one of my two accounts. Due to the always-on-the-rise CC fraud on the Net (and elsewhere),
several banks have started proposing ‘one-time CC numbers’. A generated number that looks like a credit card number but that is only valid for one operation.
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Does the credit card company violate

My girlfriend used a credit card promotional convenience check to deposit into her bank checking account. The check has cleared, but for safety sake, the bank contacted the credit card company to see if the
check has cleared, and also disclosed to the credit card company my girlfriend receive unemployment pays. The credit card company’s security department late sent an indemnity agreement to the bank,
alleging that the proceeds were obtained by the accountholder or others unlawfully, resulting in a loss to the company. The bank returned check back to the credit card company. My girlfriend
immediately contacted the security department of the credit card company. The director of security department acknowledges this is nota security case but she is just “high risk” and will let
the credit department handle the case. The bank that my girlfriend deposited check in froze my girlfriend’s account and requested it to be closed.

The credit card security director also called a few other banks that my girlfriend has accounts with. This caused one bank blocked her account and she cannot withdraw money, though this was temporarily
solved through a long day of argument. My girlfriend feels one or two banks now regard her somewhat like a criminal.  My girlfriend called the credit company security director for a written explanation, but he shunned away and said would not give anything in writing. My girlfriend has never paid any credit card
company late as supported by credit reports. Recently she received unemployment pays and has built more credit card balances. But these should not be bases for false allegation of unlawful behavior, and slandering her credit. 

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Owned through GoDaddy. Talk about sexist… what is the Campaign thinking?

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