crappy sitch' forcing me to sell
08-17-2010, 10:21 PM
#1
3rd Gear Member
Thread Starter
Join Date: Jun 2006
Location: California
Posts: 621
crappy sitch' forcing me to sell
Well, I've had the Mustang (my first car) for almost 4 years now. It died about a month ago and I haven't had the funds to get her running again (I picked up another car to drive) Things have been getting tighter lately and of course, a few days ago, someone performs credit card fraud on me.... So, since my primary credit card account's been maxed out and locked down because of someone else, I won't be able to use it for a few weeks. I told myself I'd never sell it, but crap happens...
Sympathy buy anyone? Inline 6 'project', up for sale:
https://mustangforums.com/forum/must...plete-car.html
If I'm lucky I'll pick up another project car in ten years.
Sympathy buy anyone? Inline 6 'project', up for sale:
https://mustangforums.com/forum/must...plete-car.html
If I'm lucky I'll pick up another project car in ten years.
08-18-2010, 06:29 AM
#3
5th Gear Member
Join Date: Dec 2008
Location: Texas
Posts: 4,462
I'm sorry to hear of your delima. You will regret selling it. I would hold on to it if at all possible. I held on to mine and it sat in the garage for close to 10 years, but all is back to normal now and it has a V8 too. 
If the charges on your card are fraudulent then you should be able to have the credit card company do something about it.
If the charges on your card are fraudulent then you should be able to have the credit card company do something about it.
08-19-2010, 10:11 AM
#7
5th Gear Member
Join Date: Dec 2008
Location: Texas
Posts: 4,462
I generally use cash, but thats not always an option. I have read that its better to use a credit card than a debit card, because it covers you better for fraudulent transactions. From what I understand, most debit cards don't offer as much protection.
08-19-2010, 05:31 PM
#8
5th Gear Member
Join Date: Aug 2007
Location: PA
Posts: 2,243
What do you use to make purchases?
I generally use cash, but thats not always an option. I have read that its better to use a credit card than a debit card, because it covers you better for fraudulent transactions. From what I understand, most debit cards don't offer as much protection.
I generally use cash, but thats not always an option. I have read that its better to use a credit card than a debit card, because it covers you better for fraudulent transactions. From what I understand, most debit cards don't offer as much protection.
I hardly ever have cash on me so the debit card does the job.
Lynn
08-19-2010, 08:26 PM
#9
5th Gear Member
Join Date: Aug 2007
Location: Delaware(US) & Nova Scotia(Canada)
Posts: 2,035
I don't know what Credit card you have however there is no reason for it to be locked. Visa, MC, Discover all have fraud protection today and if someone has fraudulently used your card you need to contact them (the card's fraud department) right away. All card companies will have the charges placed into dispute and for the time being are cleared from your account until the investigation has been completed. The cards will be canceled and you can request new cards be shipped to you.
Over the last 4 years I've had at least 3 cards per year have fraudulent charges on them. I travel internationally quite a bit and simply couldn't do so if my accounts got locked for any amount of time! I had my MC replaced twice on 1 trip (2 months long) last year while up in Canada due to 2 different fraud charges. MC simply opens an investigation, removes the disputed charges from the account during this time and issues new cards.. which they shipped overnight me each time.
Call the number on the back of your card, ask for the fraud department and explain that you need new cards issued right away.
As for the whole credit vs debit debate.. Credit wins hands down on safety and security! Due to the Fair Credit Billing Act you have NO liability for any fraudulent purchases, poor-quality or damaged goods or for any goods that were not delivered. Added to this the Credit card holder is not required to pay any amount in dispute. Remember this is a United States federal law and is set for your protection from both fraud theft as well as the Credit card companies. True Consumer Protection!
With regards to Debit Cards there is NO federal act protecting you. Yes there is a zero liability 'policy' provided with your debit card however it is just that.. a policy and can be changed at anytime.. even while your on the phone with them! now there is the Electronic Fund Transfer Act which allows you to dispute bank statement errors however these protections are not that great. With Debit card theft your money is already gone from your account to start with. For fraudulent Debit charges your liability is capped at $50 IF you notify the bank within 2 days. If you don't catch the theft/missing funds for 2 to 60 days your responsible for paying up to $500 of charges. After 60 days you have no recourse and are responsible for 100%, every last cent, of the unauthorized charges! You could lose everything in your account plus deal with any overdraft charges.
Debit cards should only be used to get cash from an ATM! Also note that your "Debit/Visa" card is NOT a visa card at all. When your asked debit or credit its really the type of processing that's involved.. a PIN based transaction or a signature based transaction. In the end, regardless of which one you choose, its still a debit transaction.
It is true that you have a slightly increased risk with credit fraud over debit however the protection offered through credit is far far secure and safer for you. I have never once used my debit card for anything other than ATM use. I use Credit for everything, bills, groceries, car crap, clothing, fast food, traveling, lodging, etc. Simply pay the balance each month or at least keep it in check and its the way to go.
Fraud charges to credit cards do NOT affect your credit ratings either! Fraudulent debit charges can be disastrous to your credit.
Sorry for the LONG posting but I deal with this quite a bit and wanted the OP (350kmileFord) to understand that he should still have access to his credit and the security issues between credit and debit. Hopefully he can contact his credit card company and get things worked out... and keep his stang!
Best of luck!
Over the last 4 years I've had at least 3 cards per year have fraudulent charges on them. I travel internationally quite a bit and simply couldn't do so if my accounts got locked for any amount of time! I had my MC replaced twice on 1 trip (2 months long) last year while up in Canada due to 2 different fraud charges. MC simply opens an investigation, removes the disputed charges from the account during this time and issues new cards.. which they shipped overnight me each time.
Call the number on the back of your card, ask for the fraud department and explain that you need new cards issued right away.
As for the whole credit vs debit debate.. Credit wins hands down on safety and security! Due to the Fair Credit Billing Act you have NO liability for any fraudulent purchases, poor-quality or damaged goods or for any goods that were not delivered. Added to this the Credit card holder is not required to pay any amount in dispute. Remember this is a United States federal law and is set for your protection from both fraud theft as well as the Credit card companies. True Consumer Protection!
With regards to Debit Cards there is NO federal act protecting you. Yes there is a zero liability 'policy' provided with your debit card however it is just that.. a policy and can be changed at anytime.. even while your on the phone with them! now there is the Electronic Fund Transfer Act which allows you to dispute bank statement errors however these protections are not that great. With Debit card theft your money is already gone from your account to start with. For fraudulent Debit charges your liability is capped at $50 IF you notify the bank within 2 days. If you don't catch the theft/missing funds for 2 to 60 days your responsible for paying up to $500 of charges. After 60 days you have no recourse and are responsible for 100%, every last cent, of the unauthorized charges! You could lose everything in your account plus deal with any overdraft charges.
Debit cards should only be used to get cash from an ATM! Also note that your "Debit/Visa" card is NOT a visa card at all. When your asked debit or credit its really the type of processing that's involved.. a PIN based transaction or a signature based transaction. In the end, regardless of which one you choose, its still a debit transaction.
It is true that you have a slightly increased risk with credit fraud over debit however the protection offered through credit is far far secure and safer for you. I have never once used my debit card for anything other than ATM use. I use Credit for everything, bills, groceries, car crap, clothing, fast food, traveling, lodging, etc. Simply pay the balance each month or at least keep it in check and its the way to go.
Fraud charges to credit cards do NOT affect your credit ratings either! Fraudulent debit charges can be disastrous to your credit.
Sorry for the LONG posting but I deal with this quite a bit and wanted the OP (350kmileFord) to understand that he should still have access to his credit and the security issues between credit and debit. Hopefully he can contact his credit card company and get things worked out... and keep his stang!
Best of luck!
08-20-2010, 12:33 AM
#10
6th Gear Member
Join Date: Oct 2006
Location:
Posts: 8,162
And most credit card companies watch how you spend so if anything odd pops up they call you fast.Last year i rented a car discover called me right as i was walking out of the rental place asking if it was me that rented it.Discover if you sign up on there site they can give you a one time use card number for online so if it gets taken its no good after its been used once.