Credit Card Security

[olcoon]

I just got this in an email, it's a YouTube video of a news story about credit card security. It's kind of scary!

 

[Nabo]

Oh my - that's scary and I work in the financial industry. Credit card vendors are pushing this saying they are very safe.

 

[Wmnmy]

Wow that is scary guess I have Somthing else to look out for geez ......

 

[kakampers]

Don't need this type of card to have problems...our business credit card AND our business debit card have been compromised in just the last thirty days....and neither of them had a radio chip!

 

[JohnDar]

Don't need this type of card to have problems...our business credit card AND our business debit card have been compromised in just the last thirty days....and neither of them had a radio chip!

True. My primary credit card was compromised last summer and it does not have the chip. Card company caught it, stopped both transactions, and issued me a new card. And I absolutely will not use a debit card. Our soon to be former bank made their ATM cards into debit cards and recently started charging if you don't use it often enough, even as an ATM card. Once I'm certain all direct deposits have transferred to the credit union (ATM card only), I'll cash out the accounts.

But the website they flash on the screen has some nice wallets, priced comparable to what you'd find in stores for regular ones. Might just order one. Only one of our cards currently has the chip.

 

[pegmikef]

Don't need this type of card to have problems...our business credit card AND our business debit card have been compromised in just the last thirty days....and neither of them had a radio chip!

Yep, the card I use for internet purchases only was compromised and the card company caught someone trying to buy a big screen TV at some Walmart in Missouri. They immediately canceled the card and issued a new one. What is troubling is that I only deal with reputable vendors . . . so one of them isn't so reputable. Presence or absence of chip is N/A in this case.

 

[donr827]

Just checked my credit cards and do not see anything that shows them to have the chip.
Don

 

[SouthernNights]

Don't need this type of card to have problems...our business credit card AND our business debit card have been compromised in just the last thirty days....and neither of them had a radio chip!

A couple of years ago we got a call from our cc company, wanted to know if we were in Las Vegas and used the card for an "escort" service. I told him no. As we were talking on the phone, the card got used again at a less than reputable business-worse than the escort service. They immediately shut down the account and started a new one.

Still caused a minor pain even tough the cc company caught it.

It can happen at anytime to anyone. This chip thing is just making it easier for the crooks.

 

[danemayer]

I saw a couple of days ago that the card designers have figured out a fix. There will be a revised card design in the future where the RFID chip is inactive until you put your finger or thumb on a contact point. So it would still work when you want, but you'd have to take an additional step to use it. No mention of how long it'll take for such cards to get to your wallet, but I'd guess it's going to be over a year.

I'm not sure if RFID chips have hit passports yet, but the gov't wants them to have RFID and this redesign would also be important there. When traveling overseas, you really don't want to have bad guys scanning for U.S. passports.