meazza Posted March 30, 2006 Posted March 30, 2006 Well I think using a debit card in much smarter than using a credit card. I spend money I have and not money I don't. I don't pay interest for my card. Once you've seen the credit card debt I've seen with some clients you'll know why. 647232[/snapback] i know what you mean. My sister works for MC and she once called me yelling at me because of the way i once loaded up my credit card. After that, I decided to only use it to pay my tuition. Debit card's are good, but you must be careful where you use them. My older brother went to a gas station, and they copied his card and his PIN, but they knew right away, but unfortunately his assets in that bank were frozen for like 2 weeks. Still better than carrying cash which is way too easy to burn.
Chef Jim Posted March 30, 2006 Posted March 30, 2006 i know what you mean. My sister works for MC and she once called me yelling at me because of the way i once loaded up my credit card. After that, I decided to only use it to pay my tuition. Debit card's are good, but you must be careful where you use them. My older brother went to a gas station, and they copied his card and his PIN, but they knew right away, but unfortunately his assets in that bank were frozen for like 2 weeks. Still better than carrying cash which is way too easy to burn. 647244[/snapback] How did they get his pin?
meazza Posted March 30, 2006 Posted March 30, 2006 How did they get his pin? 647252[/snapback] because they have a machine that copies the debit card, and copies the pin. it sends a fake request to a bank, so a customer thinks they're going through the normal procedure of entering the information, while you're not actually connected to a bank, all it's doing is recording it. So in the end, they're not charging you the amount for the purchase, but at the end of the day they'll go withdraw everything you have. A way of countering this is, if you do the purchase and enter the wrong PIN, the machine will still accept it (since it's not actually connected to the bank), you'll get the purchase for free, and they'll go to the ATM thinking they have your code, and will not be able to.
Chef Jim Posted March 30, 2006 Posted March 30, 2006 because they have a machine that copies the debit card, and copies the pin. it sends a fake request to a bank, so a customer thinks they're going through the normal procedure of entering the information, while you're not actually connected to a bank, all it's doing is recording it. So in the end, they're not charging you the amount for the purchase, but at the end of the day they'll go withdraw everything you have. A way of countering this is, if you do the purchase and enter the wrong PIN, the machine will still accept it (since it's not actually connected to the bank), you'll get the purchase for free, and they'll go to the ATM thinking they have your code, and will not be able to. 647264[/snapback] I don't get it. So it was an ATM at the gas station that was set up to copy that information? Wow, that's better than the old sign at the night deposit that said "Night deposit temporarily out of order. Please place deposit in shoe box on the ground under the bush behind you. Thank you."
meazza Posted March 30, 2006 Posted March 30, 2006 I don't get it. So it was an ATM at the gas station that was set up to copy that information? Wow, that's better than the old sign at the night deposit that said "Night deposit temporarily out of order. Please place deposit in shoe box on the ground under the bush behind you. Thank you." 647278[/snapback] When you go to a store to make a purchase, you can pay with your ATM card directly to the store. So with the machine they were using, they can copy your ATM card and the information you plug in.
Chef Jim Posted March 30, 2006 Posted March 30, 2006 When you go to a store to make a purchase, you can pay with your ATM card directly to the store. So with the machine they were using, they can copy your ATM card and the information you plug in. 647290[/snapback] So it was a dummy card reader? And the owner of the station had no idea, or was he in on it?
meazza Posted March 30, 2006 Posted March 30, 2006 So it was a dummy card reader? And the owner of the station had no idea, or was he in on it? 647335[/snapback] he was in on it, but some are done by the employees. I don't know how stupid someone has to be to think this will work. you're better off just going to someone at an atm and robbing them with a mask on.
Chef Jim Posted March 30, 2006 Posted March 30, 2006 he was in on it, but some are done by the employees. I don't know how stupid someone has to be to think this will work. you're better off just going to someone at an atm and robbing them with a mask on. 647350[/snapback] So the owner was going to make more money off of this scam than running his business? I mean, how long could he run the scam before he had to pack up. What an idiot!
meazza Posted March 30, 2006 Posted March 30, 2006 So the owner was going to make more money off of this scam than running his business? I mean, how long could he run the scam before he had to pack up. What an idiot! 647359[/snapback] yup, a lot of gas stations do it, especially little ones near the country.
tennesseeboy Posted March 30, 2006 Posted March 30, 2006 In Ukraine there were sophisticated machine "covers" that you could almost not detect on outside machines. The card and pin were stolen and within hours you were wiped out from some gang hq'd in Moscow. Very sophisticated. Used a special debit only for travel and only used that inside banks that were reputable.
Chef Jim Posted March 30, 2006 Posted March 30, 2006 In Ukraine there were sophisticated machine "covers" that you could almost not detect on outside machines. The card and pin were stolen and within hours you were wiped out from some gang hq'd in Moscow. Very sophisticated. Used a special debit only for travel and only used that inside banks that were reputable. 647426[/snapback] Great plan except the average balance of a bank account in the Ukraine is $2.34.
tennesseeboy Posted March 30, 2006 Posted March 30, 2006 Great plan except the average balance of a bank account in the Ukraine is $2.34. 647549[/snapback] not the tourist, expatriate, oligarch or businessmen's accounts. Quite a racket according to contacts at the embassy in Kiev.
Chef Jim Posted March 30, 2006 Posted March 30, 2006 not the tourist, expatriate, oligarch or businessmen's accounts. Quite a racket according to contacts at the embassy in Kiev. 647580[/snapback] Yeah, like I'm sticking my debit card in an ATM in the Ukraine.
stuckincincy Posted March 30, 2006 Posted March 30, 2006 not the tourist, expatriate, oligarch or businessmen's accounts. Quite a racket according to contacts at the embassy in Kiev. 647580[/snapback] Indeed. Not just the commercial rip-offs.
IDBillzFan Posted March 30, 2006 Posted March 30, 2006 Well I think using a debit card in much smarter than using a credit card. I spend money I have and not money I don't. I don't pay interest for my card. Once you've seen the credit card debt I've seen with some clients you'll know why. 647232[/snapback] I agree with all of this. The issue I have with using your bank card for everything is if you are buying something, particularly online, etc., and someone either steals your card number or inadvertantly takes too much money out of your account, it's not like a credit card where they won't hold you responsible for the dough while it is being resolved. The money in the bank is yours, not the bank's, so if someone makes a mistake and takes it away, it's generally not protected. I hope I'm explaining that properly, but that's why I was surprised you use your bank card all the time because you are disciplined enough to only use your credit card because you're smart enough to pay it off each month. That said, if you can't pay your credit card off in full every month, you have no business using it.
Chef Jim Posted March 30, 2006 Posted March 30, 2006 I agree with all of this. The issue I have with using your bank card for everything is if you are buying something, particularly online, etc., and someone either steals your card number or inadvertantly takes too much money out of your account, it's not like a credit card where they won't hold you responsible for the dough while it is being resolved. The money in the bank is yours, not the bank's, so if someone makes a mistake and takes it away, it's generally not protected. I hope I'm explaining that properly, but that's why I was surprised you use your bank card all the time because you are disciplined enough to only use your credit card because you're smart enough to pay it off each month. That said, if you can't pay your credit card off in full every month, you have no business using it. 647637[/snapback] Online is a different story. Only use credit card there. I agree that the credit card has more protections on it...I just hate using it. And who said I was disciplined?
IDBillzFan Posted March 30, 2006 Posted March 30, 2006 And who said I was disciplined? 647656[/snapback] Your neighborhood liquor store owner.
stuckincincy Posted March 30, 2006 Posted March 30, 2006 I agree with all of this. The issue I have with using your bank card for everything is if you are buying something, particularly online, etc., and someone either steals your card number or inadvertantly takes too much money out of your account, it's not like a credit card where they won't hold you responsible for the dough while it is being resolved. The money in the bank is yours, not the bank's, so if someone makes a mistake and takes it away, it's generally not protected. I hope I'm explaining that properly, but that's why I was surprised you use your bank card all the time because you are disciplined enough to only use your credit card because you're smart enough to pay it off each month. That said, if you can't pay your credit card off in full every month, you have no business using it. 647637[/snapback] I posted something a month or so ago in the Consumer seation. Recent changes in credit card law serves to put you into the highest allowable APR if you are late with a payment - even if you don't have a balance. And as usual, they have strict rules as to when they consider your payment as received. It especially hits hard, those that transferred a balance for a lower rate. Miss that or any payment time and date by 1 minute, and your 0 or 3 5 or whatever percentage for that balance transfer becomes a 27% or so hit. Not just for transferred balances - anything not paid in full. It's ideal, not having a balance but many folks for good rersons or bad ones, do so. When you get the billing - minimum payment, balance, or whatever, put it into the mail tommorow or the next day. They are waiting to nail you to the wall.
Fezmid Posted March 30, 2006 Posted March 30, 2006 Well I think using a debit card in much smarter than using a credit card. I spend money I have and not money I don't. I don't pay interest for my card. Once you've seen the credit card debt I've seen with some clients you'll know why. 647232[/snapback] Well if you don't know how to manage your finances, you should be using cash and not a debit card. Or you should use a credit card and pay it off every day -- you can do that online now. If you don't carry a balance, you won't be charged interest in a credit card and can in fact make a decent amount of extra money for yourself - I routinely make about $500+/year on my charges alone because I charge everything. Not a penny of interest. CW
Fezmid Posted March 30, 2006 Posted March 30, 2006 when you pay by debit, you could see the amount on the debit machine, they didn't even bother checking and got screwed. it happens but they had the opportunity of preventing it. 647202[/snapback] In the drive throughs around here, you don't get to see the register at all. They tell you how much it costs, you give them a card, they give you the card and a receipt back. Don't be so quick to judge My wife's been burned several times by them accidentally processing the card twice. If it were the bank/debit card, do you think you'd ge tyour money back? Doubtful. With a credit card, I simply send an email to Citibank )or Chase) telling them about the mistake, and the charge disappears. CW
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