Fraudulent charge on Fidelity Visa card :(

[GrayHare]

Why don't they stop it? because they still make a profit if you pay the fake charge.

Exactly. The banks have little incentive to do better since they pass the fraud risk to the merchant, who passes the cost to shoppers (us). Similar is true of cash back cards. When a cash back card is used the banks charge the merhcant more, who then raises prices to make up for it.

 

[ESRwannabe]

I had a chase visa compromised once. Chase removed all the fraudulent charges and I had a new credit card in a day or two. I was impressed with how well Chase handled it.

Actually it was Chase that contacted me and told me my card was being used fraudulently. What apparently happened is that a coke machine I used had a device on it that recorded my card information.

They tried to use my info at a gas station many hours from where I live while close to the same time I had just purchased some breakfast... The distance and timing made no sense and Chase's computers picked up on it. They called me and told me about it and they stopped the fraud before the criminals could do any damage.

 

[kcowan]

Using a card in a coke machine tells me they are becoming ubiquitous.