Keep your Credit Cards safe!

[Deactivated] on 10/12/2013 - 09:17

I know I am stating the obvious in this post, but most of us take the plastic card for granted and are accustomed to paying for everything with it.

Last week, whilst I was sleeping, some idiot made around $8k - $10k worth of online purchases from various places. I don't know how the idiot phished my card details (most of my purchases are online and based on deals posted on OzB), but my Bank called me up in the morning and advised me of fraudulent activity.

The transaction are still being investigated and my credit card replaced. This was such a hassle for me as I have linked automatic payments, etc using the card.

So, during this festive season, be very careful of your cards! This incident surely was a wake up call for me to change passwords to all my important accounts and to be alert…

Financial Credit Card

Comments

  • c64 on 10/12/2013 - 09:28

    debit cards have some advantages over credit cards. i have a visa debit card dedicated solely to online purchases. i only transfer money in to it just prior to making a purchase. the balance is usually zero. this means that even if my card details are compromised, any surprise visa authorisations will be declined. and, as you highlighted, when things go wrong it is less disruptive to automatic payments etc having cards dedicated to specific purposes .

    • Shwayne on 08/01/2014 - 01:39
      +1

      Actually they'll go into overdraft sometimes.

      I've used my debit card to buy things like that, and when you forget it goes into overdraft.

      You won't incur $8k-$10k of charges, but you won't on a CC with a 4k limit either.

      • c64 on 08/01/2014 - 11:06

        dunno, i suppose it could overdraft if it was a manual transaction or the merchant made a visa authorisation but they were very slow to process it (i think authorisations expire after a week).

        but in general if an authorisation amount exceeds the avaiable balance in your account it is going to be declined.

        the v.me service is actually very nifty because it notifies you by email of declined authorisations:

        "V.me by Visa Transaction Notification Alert
        This is an alert to notify you that your card ending in xxxx was declined at xxxxxx AU for a xxx.00 AUD purchase."

  • playbargain on 10/12/2013 - 10:19
    +2

    If you use VISA then register for a V.me account. You don't have to use V.me as a payment method but you can set it up to notify you by email whenever a transaction is made on the linked card both online and offline. The notification is instant as soon as the transaction is made, so you'll know any fraud activities even before your bank!

    • c64 on 10/12/2013 - 12:05

      it's not going to help when you are asleep :)

      but in general, this is a good feature

    • Shwayne on 08/01/2014 - 02:19

      Damn, nothing similar for Mastercard? :(

  • mskeggs on 10/12/2013 - 12:58
    +1

    Keep a second card (28 degrees or bankwest platinum) for emergencies. Helped a lot when my wife lost her purse and our cards had to be replaced and we had 4 or 5 days with no plastic access to our normal banking.

  • rickb on 08/01/2014 - 07:30

    If you don't make overseas purchases may be you can ask your bank to block such transactions on your card?

Login or Join to leave a comment
Login Join