Capitol one has a useful fraud alert :-)

Discussion in 'General Discussion | Credit Cards' started by estnet, Jan 12, 2015.  |  Print Topic

  1. estnet
    Original Member

    estnet Gold Member

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    Recently I got an email alerting me that the tip amount on a restaurant bill seemed high.
    In fact, I had done so intentionally, they were working on Christmas and I thought they deserved it. I was impressed, however, that they actually have an algorithm that provides useful information ;)
     
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  2. Newscience

    Newscience Gold Member

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    CitiBank's credit card Fraud Department has alerted us many times over the years, often with justification. Their algorithms track credit card spending fairly well. FWIW, a common time/location for someone to obtain all of your credit card information is when you hand over your card at a restaurant, and it then leaves your possession and sight for a few minutes.
     
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  3. estnet
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    estnet Gold Member

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    Yes, many years ago I was called by a fraud dept of a cc. They were closed when I called! and I left for Australia. Imagine my surprise when I got my bill for xxk of charges - all of which were charged in my home city at places I never charged and 3k of charges on many days in a particular restaurant in Chinatown. I'm pretty sure someone cloned my card at a chinese restaurant where I had charged a small amount shortly before I left. Long before internet alerts
    When I got home and saw the bill I called and they were VERY nice - even said it was good I hadn't seen the next bill which was xxk as well.
    So - I did think it was strange that the fraud department wasn't 24 hours and they left a phone message and no one except them could say why. Also I was charging small amounts half a world away while massive amounts were being charged that had nothing to do with my normal spending patterns! I was pretty upset that the cc company was willing to write off huge amounts (which of course we all end up paying for) and was quite dismissive of my ideas of where the card may have been cloned.
    Things certainly seem to have taken a change for the better (well except for cards that seem to block charges in Malaysia - no matter how small or how often I've charged there. Seems to be an unusual amount of fraud there I guess)!
    I was impressed that it wasn't just an unusual charge but a TIP that they noticed was high ;)
     
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  4. dayone
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    dayone Silver Member

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    Capital One has some of industry's "tightest" fraud algorithms. Consequently, this leads to more false positives. This is impressive to some and annoying to others. It is important to remember that fraud alerts primarily protect and benefit the issuer. The cardholder is protected by consumer credit laws.

    In a similar vein, C1 is very conservative with credit lines, relative to the other large card issuers.
     
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  5. TheNextBillGates

    TheNextBillGates Member

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    Wow, that's awesome! Many folks don't follow up on the totals like that.
     

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