Relocate to Wisconsin : That Chip in Your Credit Card Doesn't Mean You are ALL Protected

That Chip in Your Credit Card Doesn't Mean You are ALL Protected

  You may have lulled yourself into believing that now because the "New Improved" credit cards have been issued with the "Magic Chip" no longer have to worry about credit card thiefhaving your card one will escape to foreign lands and charge their trip to your account...furnish their exotic gifts....AND...You would be WRONG !

     We have forever had our VISA card compromised on an annual has never been "if" was just "When" with charges appearing from foreign countries...for large purchases we did not make...and fortunately we caught them or we were alerted by the fraud department of our credit card company that there had been suspicious activity. 

    Enter the "magic chip" extra layer of security...and the blanket that has lulled some people into thinking that theft was no longer a problem.  LinusWe monitor our charges carefully and frequently...the thieves are alive and well...and we just had to replace a card...and for the monthly charges

we authorize...change the numbers...urgh !

    Be careful out there in credit card land...don't blindly authorize a diligent about monitoring the charges made to your account.   Know your rights and the procedures for reporting charges made by unknown sources.

   This is a People Service announcement brought to you by Sally & David Hanson- Broker Associates, Keller Williams Realty honored to be of service in southeastern Wisconsin.

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS

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Comment balloon 21 commentsSally K. & David L. Hanson • February 04 2016 03:01AM


Thank you for the great tips and advice. I had it happen once. 

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) about 2 years ago

Wise to check ones card statement for fraudulent charges routinely. 

Posted by Bob Ratliff, "Sold on Bob" (Canyon Vista Realty) about 2 years ago

Good morning Sally and David. In this day and age you can never be too careful! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker (Wayne M Martin) about 2 years ago

Hi Sally.  It is amazing how easy they steal our credit card information.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) about 2 years ago

Yes, I've had to change cards frequently and change all those monthly charges.  very annoying.  Yes, it's best to check the items on your bills.

Posted by Women of Westchester Working Together, Women helping Women get ahead (Women of Westchester Working Together) about 2 years ago

Good morning Sally K. & David L. Hanson ,

Great advice..even though we have the magic chip I always scrutinize our statement to make sure there are no unauthorized charges.

Posted by Dorie Dillard, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) about 2 years ago

There's always someone out there that can figure out how to rip us off.....there is no fool proof method......ever!  Good advice to constantly check your activity, I do.  Of course I'm always at my limits, so anyone that tried to use my credit cards wouldn't get too far.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) about 2 years ago

Sally K. & David L. Hanson I check online and ensure all are okay...a great reminder for all.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) about 2 years ago

Sally and David - oh yes it doesn't stop it.  All it does is put up another firewall.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) about 2 years ago

It's happened to us several times. Lucky for us the credit card company does a great job monitoring (my husband still checks the account daily too) and are quick to credit any items we claim are not ours. 

As for the chip....I have one and most places I use it don't have the right equipment and you swipe it like any other card.

Posted by Sharon Tara, New Hampshire Home Stager (Sharon Tara Transformations) about 2 years ago

Sally & David, thanks for the Consumer Alert. You are so right that there are people out there working night and day to find a way to capture our information to use for their own purchases.

We must always be alert and quickly report any suspicious activity.

Posted by John Wiley, Lee County, FL Real Estate GRI, SRES,GREEN,PSA (Right Move Real Estate Group- EXP Realty) about 2 years ago

Sally and David

Thanks for sharing the heads up on the new chip credit cards.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 2 years ago

You are right on!  Two years ago, someone charged a trip to Rome and a wonderful shopping spree on my CC. The card was in my possession and I was using it simultaneously in Dallas.  The CC company did not think that was odd. Thanks for a heads up on the chips!

Posted by Sharon Parisi, Dallas Homes (United Real Estate Dallas ) about 2 years ago

The CHIP cards are more secure than cards without the chip that must be swiped rather than inserted into a card reader to complete a transaction. Merchants are now responsible for all fraudulent face to face transactions and all remote card readers are expected to be replaced with chip card readers in 2017, thus eliminating most credit card fraud except online transactions. The additional cost to merchants for replacing the card readers will likely raise the prices to consumers simply for the privilege of using credit cards.

Posted by Kimo Jarrett, Pro Lifestyle Solutions (WikiWiki Realty) about 2 years ago

This is very good advice for all of us.

We need to be alert and take great care with the use of credit cards.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) about 2 years ago

My wonderful chip card got hacked a couple of weeks ago.  Fortunately the fraud department caught it but oh so frustrating!!!

Posted by Terry McCarley, REALTOR, SRES, CDPE - Cape Coral, FL (REMAX Realty Team - Cape Coral FL) about 2 years ago

I have said for a long time that credit purchases will have to be made with a one-time number or symbol(s) that never appear again and cannot be stolen.  They have the ability to do that.  Why not?

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) about 2 years ago

They will keep finding new ways to take advantage.  I know it has it's risk, but when we travel we carry cash so we do not have to use our cards a lot. 

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) about 2 years ago

I set the email alert feature on my credit cards to send me an email alert for any purchase made over $1.  So, I see every transaction made within a few minutes.  I use very strong unique passwords on all accounts and use LastPass password manager with 2-factor authentication with a USB YubiKey.

The chips were added after the Target data breach during the Christmas shopping season in 2013, when 40 million credit card numbers were stolen.  The Target CEO resigned. Target announced they were going to add the smart card chips for better security.  Sam's Club ended up stealing Target's thunder and released smart cards before Target.

Posted by Jerry Lucas, Mobile Notary Colorado Springs, CO Notary Training (ABC Legal Docs LLC) about 2 years ago

Thank you Sally and David for a great reminder about the wonderful progress being made in the banking and credit card industry. Advancements in technology are like cops and robbers. The robbers figure out how to crack a safe so the bank buys a better safe. Someone learns how to crack that one and the bank buys another improved safe. I have often wondered why there isn't enough financial incentive for the banks or credit card companies to have the best technology at all times, and not let the robbers get ahead every other time.

Posted by Craig Cooper, Creating-Preserving-Growing Wealth in Real Estate (Chase International Real Estate) about 2 years ago

I haven't quite figured out what that chip is supposed to do. Maybe because I live in a small town, no one here has corresponding equipment? 

Meanwhile, if someone steals your card - who would stop them from using it? We buy gasoline with our card and don't even have to sign anything. 

Perhaps this will help with stolen numbers and bogus charges. Once nearly everyone I knew had their cards compromised - because a hacker got into the database of our grocery store's "parent company." One local bank recalled all of their debit and credit cards and issued new ones, and for a few days several stores were only accepting cash or checks. Charges on our cards were coming from all over the U.S. 

It led to interesting conversations: "My card was used in New Jersey. Where did they use yours?" 

The bottom line - I agree with you. We do need to take responsibility for watching our credit accounts and making sure that the charges are valid. 

Posted by Marte Cliff, your real estate writer (Marte Cliff Copywriting) about 2 years ago