Letter from Bank One about my Visa

[elgerber]

Today in the mail I get a letter from Bank One, this is what it says...
"We routinely review account activity in an effort to minimize fraud stemming from the potential loss or theft of your credit card. Please call us immediately to verify the recent transactions and confirm possession of your card".

Now I have had a card stolen and I appreciate this. They have called me on the phone in the past to do this as well. However, this letter is dated 12/25 and arrived today. If someone had stolen my card they would have been able to do a lot of damage in the amount of time it took for this letter to get to me. Seems silly to me.

Erika

 

[Evil Princess]

Perhaps it got caught up in the Holiday mail? It was dated Christmas...then again, it has arrived nearly a week later.

 

[mad4themouse]

This happened to us a month ago. And there hadn't been a fraudulent charge per se. It was a duplicate charge made by the Philly Inquirer. For that, Bank One froze our account until we received the letter and responded. I don't know why they didn't just call us instead.

 

[elgerber]

Wow, I'm glad they didn't freeze my account, I would have been ticked. Citibank and USBank used to call me if they were concerned, the letter seems stupid. I told them so when I returned their call today, told them if my card was gone, they could have maxed it out by now. Her response was "you wouldn't be liable for those charges ma'am". Like that makes it better. They sent the letter because I had 2 charges at Target on the same day. It doesn't bother me at all that they check, I just think a phone call would be much more productive.


Erika

 

[hercamore]

Hi,

I agree what a useless letter!

Discover card called me within 3 minutes one day from the time I made a major transaction online (actually buying FL tickets). I was so stunned and grateful that they wre keeping an eye out on my acct.
I had to call them one day to reduce my limit and it was NOT a hassle.
I can get my one percent rebate back online easily any time I want.

We have a Bank One Disney cc now too, and I am sno not impressed with it.

herc.

 

[TIGGERSMOM]

On the flip side - I really resent having to verify myself to a CC company.

If my card is lost or stolen I am only responsible for the first $50.00 so they aren't doing this to protect me but themselves.

As long as I am paying my bill on time who are they to monitor my spending habits.

Plenty of companies in the sea who would like a good credit risk.

 

[Toby'sFriend]

Well in their defense - those letters can be generated automatically by computers while they have to pay a human to make a phone call. A large percentage of the "unusual" spending habits are legitimate and in the long run it is more beneficial to the credit card company to handle it by letter which is the far cheaper method.

As the Customer Service rep said, the risk is totally on the company.

 

[elgerber]

Well I wouldn't say the risk is totally on the company. When my card was stolen 3 years ago they racked up $1000 worth of charges in the first 30 minutes, even though I called right away. My entire card balance was automatically deducted from my checking account and they did not remove the charges before the end of my cycle and took the $1000 out of my checking account. Luckily at that time I had enough to cover it, but there had been times when I didn't.

Erika

 

[caitycaity]

elgerber, the rules for debit/checklink cards is different than for real credit cards. for credit cards, the risk is totally on the company except for the first $50.

 

[elgerber]

Caitycaity, this was a credit card. I just had the monthly balance automatically deducted from checking account at the end of each cycle, so I didn't have to write a check. I was not liable for the $1000, but they just didn't remove it in time before they deducted my balance from my checking account.

 

[OhMari]

Erika [/B][/QUOTE] My entire card balance was automatically deducted from my checking account

Debit cards are not protected at all like a credit card. It is so misleading, cause you can use your debit card like a credit card. If your debit card is stolen, you have to file a complaint with your bank for the police. It is like your check book stolen.

I learned my lesson, don't use your debit card on vacation, use a credit card. Just use your debit card for grocery shopping.

 

[elgerber]

Just to clarify, this was not a debit card. It was my US Banks World Perks Visa card. It was just an option I chose, to have my balance paid in full each month from my checking account at Wells Fargo.

 

[believe]

It was just an option I chose, to have my balance paid in full each month from my checking account at Wells Fargo.

This is why I never have anything automatically paid. It is too difficult to dispute charges once they have your money or to get your money back.