Fidelity Visa Fraud detection seriously lacking

[FIREd_2015]

Anyone else having issues with poor fraud detection on their Fidelity Visa card? I'm traveling in Portland, Oregon and all my charges from the past several days are from the Portland area. I get a card not present alert that someone in England has used my card at a campground. Since I am the only authorized user on the card one would think their fraud detection system would have denied that charge. I have also never used this card overseas because of the foreign transaction fees. This should also have sent up a red flag on their fraud detection system. I'm beginning to wonder if Elan Financial Services has any fraud detection system at all. This is my second card is as many years. The fraudulent charge on my previous card was from a utility company in Mexico. Apparently their fraud detection system/algorithm is also incapable of learning from past fraud charges. Just venting here.

 

[RobbieB]

They notified me and preemptively shut the card down. I reviewed the suspect charges over the phone with them, identified the ones that were legit and a new card was sent.

First class fraud detection for me.

 

[audreyh1]

I always get immediate notifications by text and email of card not present transactions. I then contact them if fraud.

I haven’t experienced the case of overseas fraud, but I have gotten domestic fraud.

 

[Dawg52]

Never had a problem with mine. Hopefully my good luck continues....

 

[Tiger8693]

No problems here for me!

 

[Aerides]

Just last night they over-protected me. Stopped a renewal of a 6 month subscription despite being an identical charge I've had before...

The subscription had alerted me via email that it was declined, so I used another CC this morning to re-up. Then Fido had a bot call me at 8:30 AM to ask if the charge was ok.

 

[conversationalphrase]

I have found Fidelity Visa to be overly cautious with fraud detection. That is OK with me. The one time a fraudulent charge went through they took care of it promptly once I notified them.

 

[braumeister]

They have done a very good job with me, both before and after Elan taking it over.

I wonder why you've had such bad luck?

 

[FIREd_2015]

They have done a very good job with me, both before and after Elan taking it over.

I wonder why you've had such bad luck?

Good question considering I've also removed the CCV number from the back of the card so any unscrupulous merchants who I hand the card over to can't easily take a photo of the card and CCV number while they're processing the transaction.

 

[braumeister]

Good question considering I've also removed the CCV number from the back of the card so any unscrupulous merchants who I hand the card over to can't easily take a photo of the card and CCV number while they're processing the transaction.

I hate to say it, but this might be a big part of the problem.
After suffering from this a number of times, I sat down and analyzed the occurrences based on location and timing. I concluded that in every single case the fraud occurred within weeks of my handing the card to someone (usually a waiter at a restaurant, and not near home).

After figuring this out, I resolved to never again let a credit card out of my sight. That did the trick, and I've had the fraud problem maybe twice in the last 7 or 8 years (out of about ten different cards).

The only change this policy has made in my life is that I now keep a fair amount of cash in my wallet so I can use it in restaurants instead of handing over a card.

This may not be exactly your problem, but it sure worked well for me.

 

[euro]

In my experience, the Fido Elan Visa system is no better and no worse than any of the other cards I use. I have had it go all possible ways (i.e. fraud charges they did not catch, fraud they DID catch, legit charges they blocked and, obviously, legit charges they did not block).
Come to think of it, scary how many fraudulent charges I have been "involved" with.... I have lost count of the number of card replacements I have gone through. It has never directly cost me a penny, but it IS a hassle. I do have a lot of CC charges (never do cash, checks, or debit charges anymore), and I do try to watch the whereabouts of my cards. That said, some of these cases almost certainly have arisen from hacks, and not just from fraudulent swipes, I'd think. But who knows.

 

[Spock]

Anyone else having issues with poor fraud detection on their Fidelity Visa card? I'm traveling in Portland, Oregon and all my charges from the past several days are from the Portland area. I get a card not present alert that someone in England has used my card at a campground. Since I am the only authorized user on the card one would think their fraud detection system would have denied that charge. I have also never used this card overseas because of the foreign transaction fees. This should also have sent up a red flag on their fraud detection system. I'm beginning to wonder if Elan Financial Services has any fraud detection system at all. This is my second card is as many years. The fraudulent charge on my previous card was from a utility company in Mexico. Apparently their fraud detection system/algorithm is also incapable of learning from past fraud charges. Just venting here.

I don't see the problem.
You and the card are in Portland.
The transaction was in England.
But it was a "card not present" transaction. Same as an Amazon or other internet purchase. For all Elan knows you bought something online.

 

[savory]

I don’t want to steal OP thread but it seems original post was addressed.

Banks and CC companies have EASY options for fraud protection from entering codes like a debit card and automatically changing the 3 digit code on the back so it becomes one time use. This is especially helpful for online purchases. Right now paying for fraud and fraud protection is considered cheaper than offering cards with these features.

At least we are protected from fraud but it seems to me a CC with a better protection approach on the front end of purchases would be a lot better. My suggestion is to let your CC company know you want more security built into your CC. The chip was a big step but the changing codes, especially for online purchases would add comfort and convenience for me.

 

[TheRunningMan]

I have had only positive experiences with their anti-fraud team.

 

[COcheesehead]

I’ve had worse experiences with other cards. Fidelity at least pays me 2% cash back. I can put up with some grief for that.

 

[CRLLS]

I don't see the problem.
You and the card are in Portland.
The transaction was in England.
But it was a "card not present" transaction. Same as an Amazon or other internet purchase. For all Elan knows you bought something online.

I recently made 2 larger on-line purchases (500-1,000 USD) from the UK using my Fidelity Visa card. As far as I know, neither transaction was questioned. based on my sampling of 1, the location of the card holder and the location of "card not present" purchase would appear to not be proof of theft.

 

[Dtail]

My mother has the Fidelity card with no issues to date.

 

[gwraigty]

The Fidelity VISA is the only card I've had fraudulent charges on, once with FIA and once with Elan. In the first case, a few small charges went through before they caught the big one for several hundred dollars for a smartphone someone bought overseas. With Elan, they caught a $5000 charge to a charity I'd never heard of.

 

[wmc1000]

I agree that ELAN has not been a problem with fraud protection for me. Had it happen a couple of times with both Discover Card and also Amazon, (Chase Bank), card. I get a text message for any FIDO card purchase over $5.00 so I would know rapidly of any significant problem.

 

[Go-NoGo]

No problems with Fidelity/Elan - they once flagged a charge I made which was online and the vendor was outside the US, I called them up and had it cleared. Glad they were vigilant to catch it.

 

[Chuckanut]

Since I have been using Capital One's ENO system with online purchases, the number of fraudulent uses of my cards has gone to zero. ENO generates a special use number that can only be used at the merchant I specify.

 

[COcheesehead]

Since I have been using Capital One's ENO system with online purchases, the number of fraudulent uses of my cards has gone to zero. ENO generates a special use number that can only be used at the merchant I specify.

My wife has that card and loves it.

 

[FIREchief]

Do people consider this a major concern? If an unauthorized charge appears, it takes one phone call to make it go away. It's not like it will cost the card holder any money (unless they never review their statements).

 

[audreyh1]

Do people consider this a major concern? If an unauthorized charge appears, it takes one phone call to make it go away. It's not like it will cost the card holder any money (unless they never review their statements).

Just the inconvenience of waiting for replacement cards.

Maybe a little more if you have to change some autopay bills.

 

[Chuckanut]

Do people consider this a major concern? If an unauthorized charge appears, it takes one phone call to make it go away. It's not like it will cost the card holder any money (unless they never review their statements).

Normally, it is not a big deal. But, it can be if one is away from home traveling and one's CC is suddenly cancelled due to fraud. One guy I know had that happen on his third day of a four week week stay in Hawaii. Getting the bank to send the new CC to the apartment he was renting in another state was a huge issue.

I was able to use my CC that has the 'tap' feature on it to buy metro tickets overseas. For some reason cash and the card chip reader were not working. But, one tap with the card and I had my ticket. Had that card been cancelled on me, it would have meant a lot of wasted time

About five years ago I lost a very good deal on some close out merchandise at a local store. My CC had been suspended pending my talking to them about what was a fraudulent charge. By the time I got home and returned with a new card, the deal was gone. Real money lost.

But, you are correct, normally it is not a huge issue if one is close to home and/or has another card available.

I believe we as a society pay directly or indirectly for criminal behavior. If I can easily deter it, I figure over time I will save a few bucks. Perhaps I am overly naive on that account.