Originally Posted by
John Terefenko
..... I do not trust internet for anything. Have never been burned or lost check. Been doing it for over 50 years. I pay cash at registers and only use credit when item is very large. Old school still works and we need to get back to it.....
John, I have been burned on a credit card and a debit card. But eventually the bank/ credit card company made good on the purchasees. In fact, the credit card fraud never even came to pass. I inspected the monthly statement, noticed purchases I did not make, and contacted the credit card company (Chase). I answered a few questions and zap, the charges were gone and a new card issued. The debit card was more involved, we had written several checks that bounced because of the immediate nature of debit card fraud. And while the bank made good on all the fraudulent purchases and even the returned check fees from our legimate transactions, the individual shops still charged us their return check fees so we paid about $100 for that episode.
But we were burned significantly on a check scheme about 1996. My wife lost her wallet. We naturally called the card company and cancelled her credit card. But we had forgotten that she kept a check in it for emergency purposes. The person that found her wallet wrote a check on a different closed account and deposited it in our account to make sure our account had money in it, then made a purchase with our check. A couple of days later, the first bogus check bounced, so the money was deducted from our account. But the check from our account was already paid, so the bank honored that and just left our account with an overdraft. I suppose this is similar to the craigslist scheme so many talk about.
A couple of years later we misplaced a checkbook with about 10 checks still in it. Remembering the previous episode we called the bank to report the lost checks. They said we could put a "stop" on those checks.... for a $15 per check fee.
After looking at these episodes I became a firm believer in credit cards.
I can inspect all the purchases before paying. If there is something fishy, I take care of it before It cost me with no hassle.
I can suspend a bona fide purchase if I have an issue with the product
The credit card company automatically extends the warranty on many purchases
I get a 90 day, no question asked insurance policy on the product. We bought a $400 smart phone for my daughter, and she dropped it the next day and cracked the screen. Chase replaced it, no questions.
Plus, I get money back on all my purchases.
Comments made here are my own and, according to my children, do not reflect the opinions of any other person... anywhere, anytime.