International Association of Penturners - View Single Post - The cat and mouse game of Credit Card fraud
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Old 05-16-2018, 10:43 AM   #8 (permalink)
monophoto
 
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Join Date: Mar 2010
Location: Saratoga Springs, NY
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I've been through this so many times - - -

Seriously, I suppose you could exist on cash, especially if you don't travel much, but in the 21st century, having a credit card is almost essential. And that's especially true if you do any traveling. So it is necessary to take precautions:
- Wife and I each carry two credit cards. One is a shared account and is the one we use most often, but if something happens to compromise that account, we each have a backup. And because our backups are different, the catastrophic contingency of losing a wallet doesn't leave us with no way to pay for things.
- I check each credit card daily by going to the on-line site, and if there is a transaction I don't recognize, I call the credit card company immediately. The credit card companies understand the issues, and are really good about jumping on problems quickly.
- Our primary account is set up to send us text messages whenever there are charges that trigger specific alarms. I have alarms set for charge threshold, for all telephone/on-line charges, and for charges originating outside the US.
- The biggest PITA associated with a credit card problem is dealing with automatic payments. I keep a list of the vendors who I have set up for automatic payment so that if a problem occurs, I know who to contact with the new account information.
- I always let each credit card company know in advance when we are going to be outside our immediate community.
- As others have noted, there are important differences between credit cards and debit cards. I have a 'debit card' that is restricted for use in ATMs. Because I'm cheap and don't want to pay processing fees, the only time I use it is when I go to the ATM at my bank, or if we are traveling outside the US.
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