How safe is your credit card?

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nobbie48

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I only picked up a bit of it on the news but it sounded like the NSA can crack the incryption code used in credit card transactions. Should we worry?

Anything the government can do, private enterprise can do better.
 
What can you do?

If someone charges something to your card just call the credit card company and they'll take it off...
 
Just go out and spend like a madman, call the credit card company and tell them the CIA spent all the money on phonesex lines, internet gambling and pizza.
 
Banks will pay off if you find the error promptly. They take the risk, not you.

When filling out the request for compensation form you will be asked if you write down your PIN number.
The correct answer is NO.
 
My credit card has a $1 credit limit. If I need to buy something I instant transfer funds (accurate to the penny) to it (BMO) then make my purchase, so there's never funds available for anyone to abuse :)
 
chiefswallow said:
My credit card has a $1 credit limit. If I need to buy something I instant transfer funds (accurate to the penny) to it (BMO) then make my purchase, so there's never funds available for anyone to abuse :)
Click to expand...

Cant decide if thats genious or stupid.... =)
 
nobbie48 said:
I only picked up a bit of it on the news but it sounded like the NSA can crack the incryption code used in credit card transactions. Should we worry?

Anything the government can do, private enterprise can do better.
Click to expand...

I want to be sure I have this straight....
You read this article http://www.nytimes.com/2013/09/06/us/nsa-foils-much-internet-encryption.html?ref=us and all you came away with is that YOUR credit card may be in danger?

Relax, the NSA is not going to hack your credit card. (believe it or not the NSA couldn't hack your credit card, or your ATM card if they tried (they haven't), but they can, or already did, hack the encryption server at the bank that your credit card or ATM card connects to).
Read the article I posted, it should scare the bejesuses out of us all.
Should we worry? DAMN STRAIGHT!
(Private enterprise can't afford these hacks)
 
bitzz said:
I want to be sure I have this straight....
You read this article http://www.nytimes.com/2013/09/06/us/nsa-foils-much-internet-encryption.html?ref=us and all you came away with is that YOUR credit card may be in danger?

Relax, the NSA is not going to hack your credit card. (believe it or not the NSA couldn't hack your credit card, or your ATM card if they tried (they haven't), but they can, or already did, hack the encryption server at the bank that your credit card or ATM card connects to).
Read the article I posted, it should scare the bejesuses out of us all.
Should we worry? DAMN STRAIGHT!
(Private enterprise can't afford these hacks)
Click to expand...

I actually heard a condensed version of the article on a news program and I'm not exactly sure what is on the table, security wise

Breaking codes, encryptions etc is like learning to pick locks and someone is learning to pick some serious locks. Does that mean they can ride away with my bike? Maybe, maybe not.

However the American paranoia brought on by their foreign policies makes it easy for various agencies to expand their powers. Also the NSA also states that they do not spy on AMERICAN citizens. I'm not an American but my profile would be pretty boring to them.

It's a bit like coming home and finding your front door open and a note saying "I picked your lock". Nothing is taken or damaged but will that change at some time?

I'm not personally worried as I'm protected by poverty, nothing worth stealing. The big target would be bank encryptions that would open the main vault. The American government isn't the only one working on this. More than one foreign power would like the keys to Fort Knox, even if some of the gold is in question.
 
Credit cards are dangerous if used improperly. They can lead to debt accumulation and then a path towards bankruptcy. The stress of the financial difficultly could harm your health? Some may even want to kill themselves.

Wait, is the question in regards to how secure is your personal information from government agencies?


Unfortunately, financial institutions are required to provide information to various government agencies.

As for identity fraud, credit card transactions made with the card combined with the use of PIN are actually very secure.

At least in Canada.
 
More scared of hackers getting my CC info.
Pretty easy to find and acquire hacked paypal accounts and stolen credit card info for dirt cheap.
Seen credit card info on sale for $1 each and paypal accounts varying depending on verified/unverified and if it uses a credit card or attached to a bank account.
 
chiefswallow said:
My credit card has a $1 credit limit. If I need to buy something I instant transfer funds (accurate to the penny) to it (BMO) then make my purchase, so there's never funds available for anyone to abuse :)
Click to expand...

Having worked for a credit card co. before, i doubt this is true.

Unless you are talking about a pre-paid credit card, which is hardly a credit card to begin with.
 
Dresden said:
Having worked for a credit card co. before, i doubt this is true.

Unless you are talking about a pre-paid credit card, which is hardly a credit card to begin with.
Click to expand...

And which typically have ruinous per transaction charges, that are much higher than a typical credit card would cost.
 
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