Target hit with a data breach!

[kehlis]

Re: Target hit with a data breach!

Weird it basically what they do here: https://www.chasepaymentech.com/chargebacks.html

And my uncle is an internal auditor at a grocery store.

Thanks, I know how chargebacks work.

I'm glad your uncle is an internal auditor for a grocery store.


Still shows you have no knowledge of how banks work or operate. I've been in banking for over 10 years.

Fees or rates DO NOT go up because of things like this as you accused.

This is at least the 8th CC breach we had this year, and yet, rates and fees remain the same......

[DaImmaculateONe]

Re: Target hit with a data breach!

Thanks, I know how chargebacks work.

I'm glad your uncle is an internal auditor for a grocery store.


Still shows you have no knowledge of how banks work or operate. I've been in banking for over 10 years.

Fees or rates DO NOT go up because of things like this as you accused.

This is at least the 8th CC breach we had this year, and yet, rates and fees remain the same......

So answer me this MR banking guy of over 10 years

Why would Chase limit spending limits on cards after the breach, why would it matter since you can always do a charge back for any amount and not loose any money in process?

[kehlis]

Re: Target hit with a data breach!

So answer me this MR banking guy of over 10 years

Why would Chase limit spending limits on cards after the breach, why would it matter since you can always do a charge back for any amount and not loose any money in process?

It's to prevent fraud. Thought that was understood.


What you are missing is that while the bank doesn't lose money, it's causing a huge hassle and inconvenience for front line consultants.

Call centers are running 20-30 minute wait times because of this breach. Contrary to popular belief, banks actually care about their customer's experience.

If you want to get that spending limit back to where it should be, just order a new card. Problem solved.


And no reason to be condescending, I'm only telling you that your premise of "banks will charge you more because of this" is false.

Like I said, we deal with this about 6-8 times a year. If we charged the customer for this or raised rates, you'd be looking at about a 100% apr by now, no?

How is it we charge the customer for this in your eyes? Did your rate increase?

[DaImmaculateONe]

Re: Target hit with a data breach!

It's to prevent fraud. Thought that was understood.


What you are missing is that while the bank doesn't lose money, it's causing a huge hassle and inconvenience for front line consultants.

Call centers are running 20-30 minute wait times because of this breach. Contrary to popular belief, banks actually care about their customer's experience.

If you want to get that spending limit back to where it should be, just order a new card. Problem solved.


And no reason to be condescending, I'm only telling you that your premise of "banks will charge you more because of this" is false.

Like I said, we deal with this about 6-8 times a year. If we charged the customer for this or raised rates, you'd be looking at about a 100% apr by now, no?

How is it we charge the customer for this in your eyes? Did your rate increase?

I'm pretty sure restated my thesis that the banks dont Truely Lose money but they could be out a large sum alot longer than consumers of fraud purchases which is a fact.

Of course you wanna go to extremee when talking about APR when they could easily add a 1 or 2% increase or change balance transfer fees from 4 to 6%,maybe the late fee that was 15 now becomes 19$ which is all possible. And i never said this was only for current card holders, this would most likely affect newer signups.

[kehlis]

Re: Target hit with a data breach!

Of course you wanna go to extremee when talking about APR when they could easily add a 1 or 2% increase or change balance transfer fees from 4 to 6%,maybe the late fee that was 15 now becomes 19$ which is all possible. And i never said this was only for current card holders, this would most likely affect newer signups.

This was your original post. What am I missing?

What do they do while they wait to collect, raise interest, raise fees, or like Chase lower spending limits.

Banks never truely loose money. There too big to fail

And how is lowering your spending limit making more money for the bank?

If anything that costs the banks money lol.

[DaImmaculateONe]

Re: Target hit with a data breach!

And how is lowering your spending limit making more money for the bank?

If anything that costs the banks money lol.

Tell that to Chase lol

[Burns11]

Re: Target hit with a data breach!

Like talking to a wall, LOL.

Anyway, back to Target's thing, since it hasn't been mentioned it seems like Target doesn't use a third party POS system. I would guess that the POS terminals themselves weren't hacked, but rather at some point (possibly multiple) in the VPN the info was sent both along the VPN and to hacker. Much quieter that way and how it was kept running for so long without anyone noticing.

[Stu]

Re: Target hit with a data breach!

This security blog has some great info for those that are interested:

http://krebsonsecurity.com/

[LionsFanNJ]

Re: Target hit with a data breach!

Well Chase bank just emailed my wife and I saying that our debits were possibly compromised in the breach. We haven't seen any odd activity though but just to hr sage we both are going to the local branch to get the debit cards changed.

Sent from my Galaxy Nexus using Tapatalk

[kehlis]

Re: Target hit with a data breach!

Well Chase bank just emailed my wife and I saying that our debits were possibly compromised in the breach. We haven't seen any odd activity though but just to hr sage we both are going to the local branch to get the debit cards changed.

Sent from my Galaxy Nexus using Tapatalk

Definitely the safe bet.

In a devious plan to make money they've probably also lowered your spending limit anyway to make sure you don't lose money out of your checking account for a short period of time.

[LionsFanNJ]

Re: Target hit with a data breach!

Yah. 100 max ATM withdrawal and 300 purchases limit.

Sent from my Galaxy Nexus using Tapatalk

[nemesis04]

Re: Target hit with a data breach!

Our Chase bank was open yesterday so you could do larger withdrawals. I actually thought that was nice.

[Blzer]

Re: Target hit with a data breach!

Finally I get an e-mail about this.

Dear Target Guest,

As you may have heard or read, Target learned in mid-December that criminals forced their way into our systems and took guest information, including debit and credit card data. Late last week, as part of our ongoing investigation, we learned that additional information, including name, mailing address, phone number or email address, was also taken. I am writing to make you aware that your name, mailing address, phone number or email address may have been taken during the intrusion.

I am truly sorry this incident occurred and sincerely regret any inconvenience it may cause you. Because we value you as a guest and your trust is important to us, Target is offering one year of free credit monitoring to all Target guests who shopped in U.S. stores, through Experian’s® ProtectMyID® product which includes identity theft insurance where available. To receive your unique activation code for this service, please go to creditmonitoring.target.com and register before April 23, 2014. Activation codes must be redeemed by April 30, 2014.

In addition, to guard against possible scams, always be cautious about sharing personal information, such as Social Security numbers, passwords, user IDs and financial account information. Here are some tips that will help protect you:

• Never share information with anyone over the phone, email or text, even if they claim to be someone you know or do business with. Instead, ask for a call-back number.
• Delete texts immediately from numbers or names you don’t recognize.
• Be wary of emails that ask for money or send you to suspicious websites. Don’t click links within emails you don’t recognize.

Target’s email communication regarding this incident will never ask you to provide personal or sensitive information.

Thank you for your patience and loyalty to Target. You can find additional information and FAQs about this incident at our Target.com/databreach website. If you have further questions, you may call us at 866-852-8680.

Gregg Steinhafel
Chairman, President and CEO

[Mo]

Re: Target hit with a data breach!

I got one of those too even though I dont remember ever giving them my email.

Also apparently it is a legit email even though it looks sketchy as ****

http://www.businessinsider.com/target-email-scam-2014-1

[TheMatrix31]

Re: Target hit with a data breach!

Yeah I got that email too. Also thought it was sketchy, lol.