Fido or Rogers Master card? Can't decide! | Page 4 | Your stories | Discussion forum

Save2Retire@55 said

Yes, PC still needs that and they don't have an online option ... so have to call in and wait 30+ minutes to talk to someone and also make sure they put the right countries and dates. I think the more advanced the system gets, the better it learns of the card owner's behavior and adjusts its alarms.  

I've submitted travel advisories to PC Financial MasterCard many times through their account web site.

After signing in, click on Services in the left sidebar to go to the page of services. The Make An Account Request section of the page has a link to the travel advisory submission page:

Make An Account Request
Add Authorized User
Dispute Transaction
Travel Advisory
Credit Limit Change
Request Convenience Cheques

Rick said

Thanx for the numbers. Still not feelin it though. I'd love to get 1.42% of all the credit card transactions, even for just a day. Imagine it pales in comparison to what they bring in on interest and fees.  

Most cards now have some kind of reward cashback, miles, or points. So, most of that 1.42% is not kept.

The Home Trust Preferred Visa we have been talking about has a 1% cash back. That cash back will eat up 1%/1.42% = 70.4% of the 1.42%. That will eat up 1%/1.23% = 81.3% of the 1.23% from food and grocery store purchases.

I think it used to be quite profitable when the Canadian market was not as saturated. Interchange rates used to be higher. Rewards programs were uncommon. Cardholders thought they were lucky if they escaped an annual fee for their Visa credit card.

Mary said
I never use TAP either. What is the safest...magnetic strip....tap....or chip?? Is there not a limit for TAP....not over $100? And who picks up the fraudulent TAP the vendor or VISA? TAP cards have )))) on them.

According to Visa Canada: Improve your customers' experience with Visa payWave, the Visa card issuer is liable for the fraudulent TAP:

Built-in encryption technology, which translates the data from every Visa payWave transaction into a unique code that can only be used once. This protects each and every transaction, as well as your customer’s personal information.

…

Visa’s Zero Liability Promise,⁴ which ensures cardholders will not be held responsible for any fraudulent purchases.

As the merchant, you also have the benefit of liability protection for transactions up to $100 because chargeback from lost, stolen or counterfeit cards do not apply. You’re protected and so are your customers.

⁴ Based on Canada issued cards Visa cardholders must establish that the transaction is not their responsibility as per all applicable agreements of the issuing financial institution, including protecting their PIN where applicable. Visa Purchasing, Visa Corporate, and Visa Commercial Cards are excluded from the program. For complete details see http://www.visa.ca.

Kidd said
A Canadian phenomena.

http://www.cbc.ca/news/canada/.....-1.2561676

Over the last few years, Canadian banks (credit cards), like ALL of the Canadian travel insurance companies are finding ways out of paying for rightful claims. I am aware of at least half dozen cases, where a bank has NOT covered a theft on a credit card. Please read the links that i have posted here.

https://globalnews.ca/news/3227050/lost-your-credit-card-some-canadian-banks-may-hold-you-fully-liable/

If only our government worked for the people...

https://globalnews.ca/news/4064117/counterfeit-toronto-raptors-jersey-foot-locker/

Even big business in canada is now doing it to us. Was footlocker held accountable for selling counterfeit NIKE goods at full retail price? NO. They secretly gave the money back, admitted no guilt, case closed. The police, the government were not involved.

What has canada become?  

Canada has become a nation where people uncritically jump to conclusions based on sloppy journalism.

Footlocker and the counterfeit Nike jersey. Some people will knowing buy high quality counterfeits at a low price from a shady dealer. They will then buy the same authentic item from stores, like Footlocker and Best Buy, that have a generous return policy. Afterwards, they will return their counterfeit items to the stores!

If the counterfeits are really good, the store staff won't be able to tell and put it back on the shelf.

The retailer is a victim as much as the later customer who ends up buying the counterfeit item.

The disputed $81,276 charge on a CIBC Visa for "a custom-built race car" is suspect. Chip-and-PIN card was used. Customer says his Visa card "was neither lost, stolen nor did he divulge his PIN to anyone."

Chip cards are not easily cloned. I read about the European cases. Reporter is sloppy and left out the highly-significant fact the European chip-and-PIN fraud cases involve original chip-and-PIN cards that are stolen and then modified by the crooks.

I suspect that his Visa card was actually used. Maybe not by him but by someone else in his household who was able to put the card back in his wallet.

The obvious PIN case. Under some the agreements I've read, I don't have a valid claim against the bank if I pick an obvious PIN. People need to take some responsibility.

There was a similar case years ago where bank refused full compensation. Bank said correct PIN was used on first attempt on the ATM withdrawal. No sign of fraud before card was reported lost. Complaint was escalated to Banking Ombudsman who then investigated.

The full story was that the customer met a woman the night before who he didn't previously know. Woman was invited back to his place and they spent the night together. When he woke up the next morning, the woman and his wallet were gone!

Woman had locked out one bank card trying to guess his PIN. But, she was able to guess his PIN before the second card was locked out. He had used the same PIN on all his cards. So, the correct PIN was used on the first attempt on the other cards!

Bank offered partial compensation because it felt he contributed to his losses by picking an obvious PIN. Obviously, not that secure if some woman, whom he had known for less than 24 hours, could have guess the PIN!

Bill said
… I'm always pleasantly surprised when I hear that someone else is willing to pay the cost of my very own credit card being used fraudulently, I've always thought that's pretty nice of them.

The card issuers are quite willing to cover an innocent cardholder's losses. Used to be cardholder was legally on the hook for the first $50 of the fraudulent charges. But, that was not applied when it was obvious the cardholder was not complicit or negligent.

That's the challenge. Sometimes, it looks like the cardholder is complicit or negligent. For example, those unauthorized monthly charges for a cancelled gym membership that were, for some reason, not disputed for years, until the cardholder saw a news story.

Another example was a TD Bank customer who tried to disavow quite a few ATM cash withdrawals as fraudulent. Customer claimed that someone must have cracked TD Bank's card and PIN security. He still had his Green Card and he could prove he was at home at the times of the withdrawals.

Customer was invited to drop by the bank branch to meet with the manager. There, he was shown the ATM camera video for one of the "unauthorized" withdrawals and was asked if he recognized the person using his bank card. It was one of his children!

He withdrew his complaints after the manager offered to contact the police.