How close do you watch your credit card statements? | TigerDroppings.com

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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
945 posts

How close do you watch your credit card statements?



So, I get this call today from "Capital One Fraud Department". The caller ID shows up as "Toll Free" and it does not identify them as "Capital One". The person on the other end starts telling me about a major security risk for CapOne credit cards because of some breach from a large vendor. I ask who is the major vendor that was compromised but she can't tell me. She lists my charges to the card from earlier that day and the day before so I'm thinking she is legit but still skeptical, so I'm waiting for the inquiry for personal information. And here it comes, but all I get is a request for home address and email info. I'm still skeptical so I tell her they have my info if they want to send me something.

The call turns out to be legit. Unfortunately I had just dropped off my wife at the airport for a week's trip out of town. Fortunately she has credit card backup. New CapOne cards are being shipped overnight.

I checked my account online and No false charges have been applied on my account. Preemptive strike but sure makes me eerily uncomfortable about credit cards and all things of an "electronic" nature.

This is now the 4th time over the years (different cards) that I've had new cards issued due to fraud. This is the first time that it was caught before charges have hit my card. I watch this shite like a hawk and I know they do too. We travel extensively so my buy patterns can be erratic but they do a good job for the most part. But stay vigilant my friend.







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LSUSUPERSTAR
LSU Fan
TX
Member since Jan 2005
10110 posts

re: How close do you watch your credit card statements?


If you are worried about a call like that, hang up and call them back using the number from their website.





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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30515 posts

re: How close do you watch your credit card statements?


quote:

If you are worried about a call like that, hang up and call them back using the number from their website.


This is the correct answer.

You should always know how to get in touch with anyone you have an account with. Do so and check things out, it takes all of a couple of minutes.






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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
945 posts

re: How close do you watch your credit card statements?


I did call them immediately after and found that a new card had been issued. It's more the whole security of cards issue that has me concerned.





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Vols&Shaft83
Georgia Tech Fan
Member since Dec 2012
18458 posts

re: How close do you watch your credit card statements?


Spend $6-10 per month on some identity theft/fraud insurance from a 3rd party company, not Capital One. It'll monitor and report suspicious activity but more importantly it'll cover the cost associated with cleaning up an identity theft nightmare. Attorney costs, time off work, etc. Well worth the $.15/day to have some peace of mind.





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Lsut81
USA Fan
Member since Jun 2005
65314 posts

re: How close do you watch your credit card statements?


quote:

Spend $6-10 per month on some identity theft/fraud insurance from a 3rd party company


Suggestions?

I've been lucky, never had anything like that happen to me... Of course I only use 1 credit card regularly and leave all the others at home.

Worst case scenario if I lose my wallet or something, I lose my license, Amex, Debit, and insurance card.






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Vols&Shaft83
Georgia Tech Fan
Member since Dec 2012
18458 posts

re: How close do you watch your credit card statements?


quote:

Suggestions?

I've been lucky, never had anything like that happen to me... Of course I only use 1 credit card regularly and leave all the others at home.

Worst case scenario if I lose my wallet or something, I lose my license, Amex, Debit, and insurance card.


I just have a basic Zander Insurance policy (Dave Ramsey plug ) But I found this rating website. Any one of these HERE should be fine, but make sure it covers legal fees and has reimbursement for lost wages.






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Lsut81
USA Fan
Member since Jun 2005
65314 posts

re: How close do you watch your credit card statements?


quote:

I just have a basic Zander Insurance policy


Interesting... So they don't do anything to prevent the theft, they just protect you on the back end?






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Vols&Shaft83
Georgia Tech Fan
Member since Dec 2012
18458 posts

re: How close do you watch your credit card statements?


quote:

Interesting... So they don't do anything to prevent the theft, they just protect you on the back end?



Nothing can really "prevent" it, but you can certainly lower the risk of becoming a victim by opting out of credit card offers and checking your credit report once a year for free. Plus, VISA and Mastercard can't hold you responsible for fraudulent charges.

The policy regularly monitors and reports suspicious activity, and pays for an attorney to help quickly resolve an identity theft issue. But that's exactly what insurance is supposed to do, assume the risk of the cost after a major event.






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Lsut81
USA Fan
Member since Jun 2005
65314 posts

re: How close do you watch your credit card statements?


quote:

Nothing can really "prevent" it,


Im saying, they don't have a hold on any new credit accounts under your social and things like that?

They aren't actively trying to prevent it, just passively






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Vols&Shaft83
Georgia Tech Fan
Member since Dec 2012
18458 posts

re: How close do you watch your credit card statements?


quote:

Im saying, they don't have a hold on any new credit accounts under your social and things like that?


Yes they do, but they can only notify you of suspicious activity or new accounts. They cannot prevent somebody from stealing your identity, they wouldn't have the legal authority to arrest/ prosecute somebody for trying to hack your identity, the best they could do is notify you early and advise you on how to proceed.

Look at it like this:

If you were renting an apartment, you'd likely lock your door at night and when you leave (Unless you're Canadian), right? You have smoke detectors, and probably turn off electronics and blow out candles when you're not using them. Short of getting a security system/ armed body guards, you've done what you can to prevent a theft or fire. But, thefts and fires can & do still happen regardless of how careful you are. You'd have Renters insurance to cover the loss/damage of your personal property. But Statefarm is not going to stand watch while I sleep with a Taser and Fire extinguisher, they aren't that good of neighbor







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Lsut81
USA Fan
Member since Jun 2005
65314 posts

re: How close do you watch your credit card statements?


quote:

they wouldn't have the legal authority to arrest/ prosecute somebody for trying to hack your identity, the best they could do is notify you early and advise you on how to proceed.


I know that... just the way it read and what I am seeing about that particular group, is they aren't as proactive to prevent identity theft, more reactive than others.

But I guess it doesn't fricking matter if they are going to cover everything 100%






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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
945 posts

re: How close do you watch your credit card statements?


Thanks Vols. I've always been made whole on any incident that occurred in the past but you can't be too careful. I think it's time to check into some additional protection.





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Vols&Shaft83
Georgia Tech Fan
Member since Dec 2012
18458 posts

re: How close do you watch your credit card statements?


quote:

But I guess it doesn't fricking matter if they are going to cover everything 100%


Exactly, and since 99% of the preventative measures you can take are either already being done by your credit issuer/bank or things that you're doing by yourself anyway, I didn't see a need to spend any additional premium.






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