VISA, MasterCard Reporting a "Massive" Breach

[house70]

Inside job until proven otherwise. Someone from that institution received an offer they could not refuse.

That's why you never hear of any resolution from prior such events; because banks keep it under wraps to avoid appearing like a bunch of cheap idiots who underpay their own IT security personnel. Besides, the ones suffering from ID theft and it's lengthy consequences are the customers, not the banks.

 

[jaber2]

Why can't you believe me, it wasn't me ordering all that porn.

 

[__-_-_-__]

[citation][nom]rex86[/nom]where do you live? Somewhere in Siberia where no one lives?[/citation]
you don't need any credit card if you don't need credit. In other more developed countries then usa there's much more advanced payment systems that don't required any credit card whatsoever. systems that are way more secured and very rarely breached. and even if they are the consequences are very minimal.
What happened here is really scary. it's not like they stole a couple credit cards.
we are talking about 10million cards plus the ability to create unlimited fake credit cards.
This is the greatest credit card theft in all history.

 

[rosen380]

"If I can't afford it I don't buy it and If don't have the money I save money."

I just don't understand that. If I have $1000 to buy a new TV, I can go to the bank, get the money, go to Best Buy, give it to them and bring home the TV.

Or, I can put it on my credit card-- still having that same $1000-- and just pay for it when the CC Co asks me to.

In either case, the TV costs me exactly the same and the latter is far more convenient...

BTW how crappy is your credit with a *35%* rate!!?? I don't think I've ever seen one above 24.9%

 

[rozz]

[citation][nom]northwestern[/nom]In the US, the same country that buys more than it can afford. I don't want to contribute to that.Commence with the thumbs down of my comments.[/citation]

Having a credit card to purchase items you can afford safely and with benefit to your finances is completely different from having a credit card to buy things you really cant afford.

I'm glad you dont contribute to our country's debt, but a credit card is vital to our economy and the pro's outweigh the cons with having one.

 

[modbus]

[citation][nom]Plasmid[/nom]I live in U.S , California and I don't use credit cards too. I don't like being raped by 35% interest on everything I purchase. If I can't afford it I don't buy it and If don't have the money I save money.[/citation]

Eh? Pay what you owe within 30 days of purchase and you don't pay a cent. I'm 25 and just got a credit card last year for the first time. I now use it for pretty much everything and not once have I gone over my very limited limit or been late on a payment. How do you buy stuff online? Do you still wait in line for tickets? How did you get a contract for a phone? So many questions...

 

[shqtth]

Websites should stop saving credit card info online.

 

[LuckyRed]

[citation][nom]Plasmid[/nom]I live in U.S , California and I don't use credit cards too. I don't like being raped by 35% interest on everything I purchase. If I can't afford it I don't buy it and If don't have the money I save money.[/citation]

Your missing out on easy money. I don't carry a credit card balance, I don't pay an annual fee, plus I earn 1% credit toward purchases at my favorite store. I earned over $450 last year just for using a credit card instead of cash, checks, etc. Seriously, if you manage your finances well you'd be a fool not to use a credit card.

 

[skalev]

The credit card problem is meant to push everyone to not use cash. but what will happen when the computers go away? all of your money will too. good if you have debt, really bad if you have money...

 

[rosen380]

But if you have money, where are you keeping it? In a bank or investment account? The computers 'control' that too, right?

If something happened wiping out all electronic forms of money-- I think then what you want to have is food, water, weapons and ammunition...

 

[carnage9270]

[citation][nom]__-_-_-__[/nom]you don't need any credit card if you don't need credit. In other more developed countries then usa there's much more advanced payment systems that don't required any credit card whatsoever. systems that are way more secured and very rarely breached. and even if they are the consequences are very minimal.What happened here is really scary. it's not like they stole a couple credit cards.we are talking about 10million cards plus the ability to create unlimited fake credit cards.This is the greatest credit card theft in all history.[/citation]

I think you kind of miss the point, this has nothing to do with how secure a credit card is over other methods. This information was stolen from a company that processes transactions. It wouldn't make a difference what method of payment you used, the processing house is just as susceptible with any payment method. The theft of this information happened in a US processing house therefore the things that were stolen had to do with making fake credit cards. There isn't a method of electronic payment that cant be duplicated with the inside information to do so.

 

[threefish]

[citation][nom]aoneone[/nom]yay let's revert to the good ol' days when people used something called personal 'cheques' to purchase goods. do people still use checks at supermarket? not likely..[/citation]
There are still people using checks at the supermarket. I know this because I have waited behind them...

 

[ringzero]

[citation][nom]LuckyRed[/nom]Your missing out on easy money. I don't carry a credit card balance, I don't pay an annual fee, plus I earn 1% credit toward purchases at my favorite store. I earned over $450 last year just for using a credit card instead of cash, checks, etc. Seriously, if you manage your finances well you'd be a fool not to use a credit card.[/citation]

Totally with you on this. I have several credit cards and two of them offer up to 3-5% on certain types of purchases (up to a limit). I don't carry a balance. I think I've paid a total of $20 in credit card interest over the past 5 years and that's because I screwed up and was late on a payment.

 

[memadmax]

I use cash.....

 

[A Bad Day]

[citation][nom]brutaltruthisbrutal[/nom]Why hate these thieves for stealing card info? Maybe they are poor and need it... kind of like the protestors in the 99% movement. Why should anyone have to earn anything for themselves anymore with our culture of handouts and welfare? Because these guys took money directly instead of thru the government reach doesn't make them any worse imho. Cheers to them for cutting out the middle man.[/citation]

Please hand me all of your credit cards, bank numbers, and your social security number.

Trust me, a determined ID thief with plenty of time to burn can easily push an unaware victim into million dollars of debt.

 

[tmshdw]

[citation][nom]Plasmid[/nom]I live in U.S , California and I don't use credit cards too. I don't like being raped by 35% interest on everything I purchase. If I can't afford it I don't buy it and If don't have the money I save money.[/citation]

Ya know if you pay your bill monthly you don't pay interest. Anyone who carries a balance on their credit card is neuron challanged and living beyond their means. Its called spending only what money you have. Credit card is the convenience of not having to carry cash. Debit cards are a joke because of the lack of card holder protection.

 

[danwat1234]

Bank of America is issuing new cards

 

[rantoc]

Yupp the corporations are once again proving their ready to handle our data in the cloud...

 

[dreadlokz]

sweet =) I love when something like that heppens, just show how OLD these new techs are ;p
Thats why I almost always use the old good paper ;p

 

[wild9]

The Federal Reserve vs credit card scammers. Who can piss the most money away, who is the most corrupted - and who is less likely to be stopped.