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Why No Credit Card Is 100% Safe Against Fraud
consumerist.com — Even if that account is closed or you're using a "single-use" or "virtual" credit card, fraud-prevention cards with disposable credit card numbers that change after you use them once, you're not 100% secure. How come? Well, we'll tell ya.
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- stephenhacking, on 07/18/2008, -0/+2i bet many people make their life through credit cards so they need worry only in the end of the month
- blueandstrange, on 07/18/2008, -0/+2If I use my card through PayPal and also with secure and professional online stores I'll never be overcharged. That's my opinion :)
- Aharoni, on 07/18/2008, -0/+2VCCs and other "single use" cards (lets say, a Greendot pre-paid card that I'm only planning on using once) are not connected to your credit card or bank account. You fund it for a certain amount and when the merchant supposedly authorizes the transaction he gets an authorization if the card has enough balance. If a merchant manually bills that credit card then he is billing the VCC vendor's card and account - not yours.
Additionally, whether merchants check for CVV2 and/or AVS (Address Verification System) they usually use some sort of processor to handle the credit card orders. The amount of merchants that are doing manual billing is insignificant and scammers know how to circumvent merchants who do use a processor - so it doesn't really matter to them.
I do agree, no one is safe from identity theft. But there are far worse cases than using your credit cards. Those are the easy cases since the card associations set up rules in favor of the clients and not the merchants. - LordBen, on 07/18/2008, -0/+1Original thread on slickdeals that the consumerist pretty much just links to.
http://forums.slickdeals.net/showthread.php?t=8713 ...
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