How Often Should You Check Credit Card Statements for Fraud?

[DonTom]

How would one recover?

The old way will still work, the 2FA. The key means the 2FA is NOT required. That is a lot less trouble than the 2FA.

IOW, choose either way.

The key has to be familiar to the computer it is set up on. It is useless to other computers as well as to other fingers if not set up.

-Don- Auburn, CA

 

[Crisscross]

We don't have any credit cards ... none - nada - zip - zilch!

35 years ago we sold our house, used the equity to pay off all our debt, and left us with zero balances on everything we owned, and owed and never used Credit Cards again. Without all those monthly payments and money lost in the amount we were paying in interest provided the opportunity to begin saving, instead of throwing money away!

Today, we have ATM bank cards / debit cards with the VISA / MasterCard logos and that works very well for absolutely everything. If we don't have the money in the account.... we don't buy it. It's just that simple now.

I'm retired now ... living quite well. Wonder how I did it? Tip: It did not happen by paying interest on Credit Cards! Selling that house was the best INVESTMENT I ever made.

Smart people, use credit cards as a convenience and pay the bill in total each month. They are not the devil. Spending above your means is.

 

[DonTom]

Smart people, use credit cards as a convenience and pay the bill in total each month.

I pay mine every week, in full, if not more often. That way it is easier to remember what the charges are for. I often pay them as soon as the charge is no longer "pending".

-Don- Auburn, CA

 

[jymbee]

Smart people, use credit cards as a convenience and pay the bill in total each month.

Yeah, pretty basic stuff IMO.

Personally I don't see any reason not go use credit cards for most all purchases. Beyond the protection (which I've had to use at times) and money back credits (only use cards with no fees and bonus points) they are an effective, worthwhile tool. I never carry a balance on any credit card and pay any amount due automatically via bank transfer when due. Have also redeemed hundreds of dollars worth of credit this past year alone.

However, I understand that while we are now in a reasonable financial position to do this, there are numerous folks (yes, me at one time) who for whatever reason carry over sometimes significant balances and pay only the minimum amount due each month. Not always spending beyond their means, but just trying to keep food on the table.

Others, as noted here have their own reasons for not using CCs and that works for them. To each his own...

 

[Edd505]

They are a little too good, in many cases. I have had several legit transactions denied. It has happened to me more times than I can count.

But I have also had several fraudulent transactions denied and a few that were not detected and I had to call in myself. IOW, I have seen it all.

-Don- Why, AZ

My local bank has done that a couple times due to fraud. I called and they said I had not told them I would be out of state. No I call with a travel path and have not had the issue since. I have a lock on all my credit reports so no one can open credit. I just bought a new 5W and was called to the fiance office and wife and I both had to answer personal question to verify ID. Questions like last address, state of issue on SS# etc., happy to answer and the report came back as expected.

 

[RayIN]

I have had credit card fraud on my cards more times than I can count. Also, many rejections for legit purposes. Credit cards are very unreliable, IMO. It is best to have many credit cards when travelling as any can get rejected at any time with no advance notice and for ridiculous reasons.


That's why such crime is so common today. Nobody seems to care when you're ripped off $700.00. It is the bank that eats it and nobody cares.

-Don- Why, AZ

That happened to me enroute through Canada to Alaska. The CC number was used in Great Falls MT. Discover card emailed while I was on the road in CA. They wanted to mail me new cards. I had to explain several time why they should not; I'd instead call them from AK and provide a mailing address. It was good I have a Mastercard from my bank; I did call the bank before using the Mastercard in Canada.
I couldn't use a passkey. My privacy and security erases all cookies every time a browser is closed.

 

[TheBar]

Credit card companies vary widely. I've had cards denied when traveling 40 miles to another state. And other cards which weren't rejected in Europe, Mexico, or Canada.

But I've had several instances where I had credit card fraud on a new card with a new number I had never used. I had around 8 cards at once when traveling on my job and I believe every one had fraud once within the first year then for years after never again. I suspect the card companies themselves may have internal fraud going on.

I had one instance where my credit was stolen from a printing company who printed out the paper bills for my credit card. I've gone paperless. The emails only show the last 4 digits of the card.

I'm down to 2 cashback cards now, When paying on-line at places that don't take PayPal or Apple Pay I use Eno from Capital One. I press a button on my browser's toolbar and it creates a virtual card good for one use that would be rejected if someone tried to use it a 2nd time.

 

[DonTom]

Credit card companies vary widely.

Yep. But I do have a credit card that has never given me the slightest problem in any way, That is the Good Sam Credit Card by Comenity Capital Bank.

They expect travel as it is an RVer's CC.

-Don- Reno, NV

 

[TheBar]

Yep. But I do have a credit card that has never given me the slightest problem in any way, That is the Good Sam Credit Card by Comenity Capital Bank.

They expect travel as it is an RVer's CC.

-Don- Reno, NV

$249 annual fee? I haven't paid a fee in 30 years. Plus I only have cash back cards not points rewards at Camping World.

 

[jymbee]

$249 annual fee? I haven't paid a fee in 30 years. Plus I only have cash back cards not points rewards at Camping World.

Wow-- I didn't even know they still had credit cards that charge annual fees! (other than Amex of course which I cut up years ago)

 

[Larry N.]

Wow-- I didn't even know they still had credit cards that charge annual fees! (other than Amex of course which I cut up years ago)

Curious-- our Amex has no annual fee.

 

[jymbee]

Curious-- our Amex has no annual fee.

Well I'll be... nobody tells me nothin'...

 

[DonTom]

$249 annual fee? I haven't paid a fee in 30 years. Plus I only have cash back cards not points rewards at Camping World.

Only 1 of the three CCs shown have a fee. Mine has no fee. None of my many CC's have fees. They pay me, I do not pay them other than pay back what I owe weekly if not more often.

-Don- Reno, NV

 

[DonTom]

Plus I only have cash back cards

Often the cards that do not have cash back pay back more. For an example, I get my Harley oil and filters for free and much more from using my Harley Visa from US Bank. The last time I checked it was more than any cash back card.

The same goes for my Kroger Visa which pays me back in groceries.

I also have cash back cards. I have many credit cards and I try to rotate through them once in a while.

I only use cash when I must or when there is a lower price when cash is used.

-Don- Reno, NV

 

[UTTransplant]

Years ago we had a problem with our card being rejected due to travel. We contacted our son, a middle manager at the same credit union, and he had our account marked as “Trucker.” It is a great excuse to travel lots of places and spend a lot of money on diesel! It has worked flawlessly ever since that modification.

 

[DonTom]

Years ago we had a problem with our card being rejected due to travel. We contacted our son, a middle manager at the same credit union, and he had our account marked as “Trucker.” It is a great excuse to travel lots of places an spend a lot of money on diesel! It has worked flawlessly ever since that modification.

"Credit Card Issuers That Still Allow or Recommend Travel Notifications:​

• Citi: Still allows travel alerts, though not required. You can set them via the Citi Mobile app or website for peace of mind.
• Discover: Recommends setting a travel notice, especially for international trips.
• U.S. Bank: Encourages customers to submit travel notifications for international travel.
• Barclays: One of the few that still recommends notifying them before travel.

Major Issuers That No Longer Require Notifications:​

• American Express, Chase, Capital One, Bank of America, and Wells Fargo no longer require or support travel alerts. Their fraud detection systems use spending patterns, mobile app usage, and booking data to identify travel."

​

 

[DonTom]

I discovered that I have no idea how my BioPass FIDO3 touch key works--but it does work. Even on the Walmart site where I incorrectly thought it was not working, but was.

I didn't realize after it is once setup up it can be removed but stays with the computer forever but only on the Browser it was set up on.

For an example, I log into ID. Gov to go to the VA website. It no longer requires the phonecall, even though I do NOT have the security key in the computer. It just remembers it. It is easier to use for sure. The same was happening on other websites. No key installed, but it may or may not ask for my 4-digit unlock key number that I unlock the computer with. But no more of that phone call or e-nail verification where it does work.

On this computer, it works with MS Edge, but I could not get it to work with Brave, with or without the key installed in the USB port. Brave gives me this message:

"Face or touch unlock was unsuccessful. Please try again or choose another authentication method."

Perhaps I do not know what I am doing. But it already works well enough, at least with Edge.

 

[jymbee]

I do not pay them other than pay back what I owe weekly if not more often.

-Don- Reno, N

Why weekly?

 

[DonTom]

Why weekly?

It is a lot easier to remember what the charges were for and also to check for fraudulent use more often.

I think a better question would be "why not?"

-Don- Reno, NV

 

[UTTransplant]

"Credit Card Issuers That Still Allow or Recommend Travel Notifications:​

• Citi: Still allows travel alerts, though not required. You can set them via the Citi Mobile app or website for peace of mind.
• Discover: Recommends setting a travel notice, especially for international trips.
• U.S. Bank: Encourages customers to submit travel notifications for international travel.
• Barclays: One of the few that still recommends notifying them before travel.

Major Issuers That No Longer Require Notifications:​

• American Express, Chase, Capital One, Bank of America, and Wells Fargo no longer require or support travel alerts. Their fraud detection systems use spending patterns, mobile app usage, and booking data to identify travel."

​

I don’t use any of the big national banks. I have only local credit unions for 40+ years. They pay better interest, have lower loan interest, and are much more interested in the member experience. Big banks could not care less about individual accounts; that is not where they make their money. And when they do try to make money on those type of accounts, there has been big fraud. I keep my money local.