Look for fraud alerts

[gduke2010]

Just got a fraud alert from Wells Fargo. Someone used my debit card to purchase $4,000 worth of cryptocurrency. I got home from work yesterday and looked at my emails and text messages. Wells Fargo sent two so, I immediately, called. Two transactions went through. I called Wells Fargo and they told me that they’d recover the money. The money will be back in my account in 8–10 days. However, my card has been canceled and a new one sent.

Thinking about opening a new account with my card and depositing a small amount each month to only cover gas and groceries.

Look out. Theft happens as fast as a click of a computer mouse.

Been using the debit card for most purchases, it seemed so convenient since I carry no credit card debt. I’ll have to rethink that strategy and closely look at the credit card statements, too since I have a $280,000 line of credit on my cards.

Be careful and vigilant.

[MBAtarga]

My debit card gets used at my bank ATM only. Otherwise, credit card(s) are used. I see absolutely NO advantage to using a debit card.

https://clark.com/personal-finance-credit/never-use-debit-card-pay/

[stevej37]

^^^ Agree...plus the travel miles add up fast.

[gduke2010]

I never realized the potential problems. Mark has a great link.

[masraum]

Yep, I only have one or two places that the debt gets used, and it never leaves my hand/sight.

I've had my credit card replaced probably half a dozen times over the years. 99% of the time, my bank (credit union) blocks the charges and notifies or asks me about them practically in real time.

[masraum]

Originally Posted by gduke2010

I have a $280,000 line of credit on my cards.

Party at GDuke's place!

[gduke2010]

I used my cards for business expenses years ago and submitted them for reimbursement.

[Joe Bob]

Originally Posted by MBAtarga

My debit card gets used at my bank ATM only. Otherwise, credit card(s) are used. I see absolutely NO advantage to using a debit card.

https://clark.com/personal-finance-credit/never-use-debit-card-pay/

A Debit card comes in handy when your bank blocks your credit card.

Just happened to me this month. Some mouth breather saw that my card was purchasing gas while traveling from GA to CO. I had just filled my tank (not a prepay) in podunk Illinois. Whipped out my debit card and was able to pay the fuel charge. I got on the horn to my bank and chewed their ass off. NEVER black my account unless you call me first.

Evidently if I go on a trip I am supposed to get permission from my bank. Wankers.

[VINMAN]

Happened to me last week. $180 purchases from Apple on one if my cards. Got a fraud alert at 2am. Immediately locked my card and called to report. Got the charges reversed and ordered a new card, but now have to notify anyone that uses that card.

Such a PITA.

I've been using it less and less.
Going back to good ole cash..

[john70t]

Originally Posted by MBAtarga

My debit card gets used at my bank ATM only. Otherwise, credit card(s) are used. I see absolutely NO advantage to using a debit card.

Originally Posted by Joe Bob

A Debit card comes in handy when your bank blocks your credit card.

True and True.
(Cash is king, Krugerrand is emperor, but lead and a fast car is god)

I didn't know debit charges are now reversible.

What about a "secured" credit card?
-You refill a separate small cash account based on expected expenditures which guarantees the card.
-There is probably an over-draft waiver for a certain amount of time. Or should be.
-There might be gas/hotel/airline points.
-You build credit and play that central banking trustworthyness game.

All cards are now equipped with RFID chips regardless.
No signature, physical ID, or other verification required for transaction...despite the amount....crazy...building up to massive failure...
People with scanners in bags in supermarkets can swipe that remotely.
Cells also have that POS swipe capability. Spoofing here we come.

[VINMAN]

The detectives and people i know in the prosecutors office all say, one of the biggest, if not the #1 source of card involved fraud and issues of the like, comes from gas stations and attendants.

.

[Por_sha911]

Use 3 cards:
1 for repeating auto payments (utilities) ONLY
1 for online ONLY
1 for stores, gas
If one gets hacked you are clear to use the other two
Never use a debit card because even though you are protected from fraud, if it is hacked, you have to wait to get your funds back and you may end up having checks or other auto pay charges bounce.

[cabmandone]

I don't have a debit card for that very reason. I have two credit cards. If they get hacked, I still have all of my money while the charges are disputed.

[techman1]

Frank Abagnale, the subject of “Catch me if you can” with Leo and Tom Hanks. He basically said you are a fool for using debit cards. Either use cash or somebody else’s. That is a credit card, don’t pay it back for up to a month.

Next, don’t use a credit card in an area prone to theft.
Use a gas card at a gas pump. They won’t skim it and use it for online purchases.