Fraud Activity

swayze

Does anyone know of any credit card that charges a fee for monitoring Fraud Activity?
Also how it works and which situations it applies in.

Thanks

James

I don't believe that any card company charges. It's in their interest to spot and stop fraud.

Lots of card issuers carry out account monitoring to spot what they call 'unusual' spending patterns.

There are lots of examples in these forums of cardholders having their cards blocked, some at home, some abroad. Many cardhoders welcome this, other find it a nightmare. (Spending ages on their mobile phone trying to get their card unlocked when their in a shop overseas) It might be a good idea to inform your card issuer when you'll be out of the country.

More Information, click HERE.

swayze

Thanks for the infomation.

How about if there is an excessive amount of fraud would this then warrant a fee.

Thanks

jamalfatty

They wont ever charge you for monitoring fraud, it's their money that would be spent fraudulently so you would be paying for them to keep an eye on someone else's cash - cant really see this going down well with customers!

Are you expecting massive amounts of fraud on your account??!

James

jamalfatty wrote: »

They wont ever charge you for monitoring fraud, it's their money that would be spent fraudulently so you would be paying for them to keep an eye on someone else's cash - cant really see this going down well with customers!

Are you expecting massive amounts of fraud on your account??!

One exception if your're unfortunate enough to be the victim of fraud where your card was used fraudulently with your PIN before you reported your card lost, then you could be in a disputed transaction situation.

swayze

jamalfatty wrote: »

They wont ever charge you for monitoring fraud, it's their money that would be spent fraudulently so you would be paying for them to keep an eye on someone else's cash - cant really see this going down well with customers!

Are you expecting massive amounts of fraud on your account??!

No.

My Grandmother has had trouble with her credit card and the company are stating it is to do with fraud and that there could be excess fees.

swayze

James wrote: »

One exception if your're unfortunate enough to be the victim of fraud where your card was used fraudulently with your PIN before you reported your card lost, then you could be in a disputed transaction situation.

This could be the reason.

Thanks for the info.

James

swayze wrote: »

This could be the reason.

Thanks for the info.

I'd advise your gran to change her credit cards to Chip & Signature soonest.

It's safer and she need never be concerned about keeping her PIN secret.