A Word of Caution, You are being Watched...

[Phyer Phyter]

An interesting article in todays local paper... EYE SPY A bit long but interesting... see what ya think...

 

[Equis25]

All of this is inevitable, but bloody scary nonetheless. In the wrong hands - government and private industry alike, it's misapplication could create many problems for innocent individuals or groups of individuals.

 

[Phyer Phyter]

Yup it sure is. It seems that there is enough problems keeping stuff secure that people with less than honest intentions could have a hay day.

There have been several incidents in Edmonton in the last few months where people have hacked POS debit card terminals with blue ray transmitters hidden in the POS device (Unknown to the business establishment) and as soon as you swipe your card the data is transmitted via blue ray to some one near by with a laptop and instantly your data is emailed to someone somewhere else. With in minutes or hours a duplicate of your card is made and money cleaned out of your account. Because of technology and lack of security we will eventually have to go back to good ole cash to foil electronic illegal activities.

 

[Gale]

Not sure I want to read that:>)))

 

[HappyFish]

I`m a $$$$$ dinosaur. I cary cash. I do not have a credit card for me or the farm. A few years ago I was going to borrow a few bucks to buy a new RV. The RV place would not make the loan because I had such a low score. So I went by one of my local banks and got a siginature loan on the spot, no credit check at all. The C.E.O. had been one of our former employees. He thought it was funny as hell! I sleep real good at night. I do have a Visa check card and use it about once a year when I buy myself a new lens from B&H so I don`t have to send them a check. If you did without it yesterday it won`t kill you to do without it today, and you can have it as soon as you save up the cash and everybody you oue money to is paid first. It is just plain stupid at the way people handle money today.

 

[bob swanson]

Happy fish. I'm trying to get in the same boat as you. I hope I make it. Particularly when the next administration comes into power. bsvirginian

 

[jeremyInMT]

I`m a $$$$$ dinosaur. I cary cash. I do not have a credit card for me or the farm. A few years ago I was going to borrow a few bucks to buy a new RV. The RV place would not make the loan because I had such a low score. So I went by one of my local banks and got a siginature loan on the spot, no credit check at all. The C.E.O. had been one of our former employees. He thought it was funny as hell! I sleep real good at night. I do have a Visa check card and use it about once a year when I buy myself a new lens from B&H so I don`t have to send them a check. If you did without it yesterday it won`t kill you to do without it today, and you can have it as soon as you save up the cash and everybody you oue money to is paid first. It is just plain stupid at the way people handle money today.

AMEN!!!

 

[lexiticus]

IN contrast, if someone steals a wallet (or you lose it etc...), your debit card has almost no use to them. Its cash and your credit card (Which requires nothing other than the numbers on the card to make transactions online and over the phone)

ITs almost archaic how Credit cards are handled, Debit is slightly more secure, And Cash the least secure of all (For physical transactions)
for remote transactions, Debit isn't used (that i know of) Credit Cards are pretty much completely insecure, and Cash is useless.
So Debit is the safest IMO, Just be a bit wary of outdoors / shady area ATM's

Though IMO Credit Cards are an accident waiting to happen

 

[HappyFish]

Go to any upscale luggage store or Bass Pro and buy a plain looking money belt. Do not get some fancy looking one. They will have mens and ladies. You can stick about $2,000.00 bucks in easy and more if you beat hell out of it to flaten it. Thevies are both lazy and stupid. And you do not need a credit card to buy something from over the pond, a Visa check card will do nicely. It NEVER leaves the house. Its home is taped to the inside wall of the main safe.(it`s very happy there)

 

[Rich Gibson]

I`m a $$$$$ dinosaur. I cary cash. I do not have a credit card for me or the farm. A few years ago I was going to borrow a few bucks to buy a new RV. The RV place would not make the loan because I had such a low score. So I went by one of my local banks and got a siginature loan on the spot, no credit check at all. The C.E.O. had been one of our former employees. He thought it was funny as hell! I sleep real good at night. I do have a Visa check card and use it about once a year when I buy myself a new lens from B&H so I don`t have to send them a check. If you did without it yesterday it won`t kill you to do without it today, and you can have it as soon as you save up the cash and everybody you oue money to is paid first. It is just plain stupid at the way people handle money today.

Whatever floats your boat. The wife and I use it for most purchases and so far we've gone to Rome in business class on a free flight and this September we're going on a free flight to Ireland thanks to those cards. Even when you add the annual fee we still get the flight for 25% of what it would cost. We never carry a balance on the cards either. I heard somewhere that the credit card companies call us "dead beats."

Rich

 

[TOLady]

Being aware of all the scams is the best protection. If I have someone swipe my card (debit/credit) and they say it didn't go through, and attempt to swipe again, I retrieve the card immediately and switch to another. If they say that one didn't go through and need to re-swipe, I take the card back, and pay cash. Double swiping is the most prevalent scam so far. My gas is paid at the pump with a small key fob which sends the purchase to a certain CC. My cards never leave my sight and I don't carry a purse anymore. The debit and CC, a few biz cards, and my driver's license all stashed in a pocket.

The banks here in Canada are very good about fraud. The client is fully protected.

One stupid thief here in Toronto sucker-punched a woman at an ATM right after she'd withdrawn money. She turned out to be a cop's wife. What an idiot!!! He probably got taken on the scenic route to the station.

Of course, I won't need to worry about debit or credit cards soon because I've got $25 million coming from some guy who's father was a Prince in Nigeria and he needs to get the money out before the bad guys get him. :biggrin:

 

[TOLady]

Even when you add the annual fee we still get the flight for 25% of what it would cost. We never carry a balance on the cards either. I heard somewhere that the credit card companies call us "dead beats."

Rich

Rich, this just proves that if you're careful about how you manage your money, it can actually pay FOR you to have credit cards. I'm in the same boat. I use my VISA card all the time because it hands me cash back in my December statement. I get back 2% of all my purchases. My AMEX card is the same. Neither card has a fee. I never carry a balance, and I get to use their money for 28 days! :biggrin: They hate it!!! Understanding the system, and managing your money carefully is the best way to achieve financial harmony.

We make money with their money!! Best thing in the world!!!!! :biggrin:
"DEAD BEATS UNITE!"

 

[Phyer Phyter]

So Debit is the safest IMO, Just be a bit wary of outdoors / shady area ATM's

ATM cards are just as vulnerable. In my second post in this thread the business that was targeted was a well kown fast food restaraunt franchise and it was located near the University so that it would have very high volume of traffic. Any way they can get your data - whether you leave your receipt for dinner on the table at the resteraunt - if the data is not encrypted it has all your info on it - your credit card number, exp date, your signature. People go dumpster diving behind business to get those numbers. Identity theft is really the big threat now because it is easy and not very likely you will get caught. When you get the "You've been preapproved" letters for a credit card - shread them. Apartments are the worse because those mailboxes are usually easy to break into. The letter is gone and you never knew it was sent to you. All the thief has to do is change the address on the letter as tho he is updating information and poof he has a credit card in your name based on your credit rating and you are the one left trying later to prove it wasnt you and then try to repair the damage to your credit ratings!

 

[Phyer Phyter]

We never carry a balance on the cards either. I heard somewhere that the credit card companies call us "dead beats."

Rich

I am the same way, I've used my credit cards from Mexico to Florida to Western Canada. I use it for business expences to major purcases, fuel to meals. There is no "Pattern" that would twig a credit company to think that someone other than me is using my card. As to dead beats yup we are because as long as you pay it off every month they do not make any money from you. They love the people that have 1000$ of dollars racked up and make the minimum monthly payment - those are the people that they make big bucks off of. Think about it - It is a usually 18 to 24% loan. Who in their right mind would sign up for a loan with those interest rates?

 

[Rich Gibson]

ATM cards are just as vulnerable. In my first post the business that was targeted was a well kown fast food restaraunt franchise and it was located near the University so that it would have very high volume of traffic. Any way they can get your data - whether you leave your receipt for dinner on the table at the resteraunt - if the data is not encrypted it has all your info on it - your credit card number, exp date, your signature. People go dumpster diving behind business to get those numbers. Identity theft is really the big threat now because it is easy and not very likely you will get caught. When you get the "You've been preapproved" letters for a credit card - shread them. Apartments are the worse because those mailboxes are usually easy to break into. The letter is gone and you never knew it was sent to you. All the thief has to do is change the address on the letter as tho he is updating information and poof he has a credit card in your name based on your credit rating and you are the one left trying later to prove it wasnt you and then try to repair the damage to your credit ratings!

Lots of excellent advice. A lot of good ideas in this thread..well except for the implied threats of violence. I'm not sure I'd write off all thieves a s stupid though. The money belt idea is very effective. When we travel we have the ones which tie around the waist under our trousers. Yes, it's occasionally inconvenient turning to the wall and breaking out the card or Euros but we've been going overseas yearly since 1994 and have never had our pockets picked.

However, all it takes is a moment's inattention though. On a train from Newcastle to London a thief walked aboard and then right off with one of our luggage bags. With the distractions of passengers getting on and off he/she was never seen. No matter how careful you are, there is always someone eager to take advantage of complacency. The thief got mostly used laundry, but a few valuable items. They went for the large bag; right next to it was my roll aboard with EVERY bit of my photographis equipment in it! I was tremendously relieved it hadn't been taken...but at the time I felt so stupid for being so careless.

Rich

 

[jeremyInMT]

An interesting fact is that on average, people who use credit cards spend 18% more than those who use cash...so the money back and points systems may not necessarily be as "rewarding" as they promise to be.

 

[Rich Gibson]

An interesting fact is that on average, people who use credit cards spend 18% more than those who use cash...so the money back and points systems may not necessarily be as "rewarding" as they promise to be.

Just curious; did the stats indicate a breakdown of those who do not run a balance?

Of course I've seen people (who look like they shouldn't) pay cash for a handful of lottery tickets on Friday afternoons in the Seven-Eleven stores.

Rich

 

[jeremyInMT]

Just curious; did the stats indicate a breakdown of those who do not run a balance?
Rich

nope, they were all together. The point is that if the reduction in your capital is more palpable, you'll be more reticent to spend it. My wife and are aren't on an all-cash/debit card basis yet, but we're getting closer. It makes a difference when we do it, that's for sure. It really makes me think more about my spending now, and I wasn't all that careless to begin with. We felt it is one of those things where we can try it, and if we don't like it, we can always go back to doing things how we've always done them.

 

[Phyer Phyter]

I have seen some people put on their signature strip "Please Ask For Photo ID" instead of their signature. Which I think is a good idea. I never mind when a teller asks me for additional ID because she is trying to protect me and her store. My wife had a customer a long time ago refuse to sign her card and her logic was that if she signs it then the theif can forge her signature! Gee it is easier to for me to forge my signature than for me to forge your signature. She just didnt get it.

 

[jeremyInMT]

speaking of signatures, check this out:
Credit Card Prank on Signatures