Personal Finance

Is it safe to use your credit card after a data breach?

  • Last Updated:
  • Sep 17th, 2014 9:59 am
[OP]
Newbie
Aug 6, 2011
48 posts
8 upvotes
Toronto

Is it safe to use your credit card after a data breach?

Some US pundits are arguing that retailers who've suffered a public breach may be the safest now, because they've had to crack down and after law enforcement becomes involved. How long should cardholders wait after a security scandal before the waters are safe again?

Would you shy away from an RBC Target credit card after last year's breach?

Any tips on mitigating risks are appreciated.
4 replies
Deal Fanatic
Apr 16, 2007
7073 posts
1971 upvotes
Financial District B…
With a system breach from a large retailer or FI(complete profile never on one system) rarely is the actual credit products entire and complete account data obtained.
System data breaches are mainly from hackers seeking customer data so that they can use it as an attempt to apply for other credit.
Use it as normal.
----------------------------Licensed Credit Bureau member, S1, FI Automotive, CCP forums most banned = x 13 and counting, guess who that is?... stomped to the curb once again
Deal Expert
Dec 26, 2010
16033 posts
4103 upvotes
I can't use a chip-less card at Target. I have a travel MasterCard that I've used for years on both sides of the border. Got US debit/credit cards that are also chip-less that don't work at Target. They are really serious about unsecured cards these days.
Deal Expert
Aug 22, 2011
27582 posts
13513 upvotes
Ottawa
mikeymike1 wrote:
Sep 17th, 2014 8:40 am
With a system breach from a large retailer or FI(complete profile never on one system) rarely is the actual credit products entire and complete account data obtained.
System data breaches are mainly from hackers seeking customer data so that they can use it as an attempt to apply for other credit.
Use it as normal.
Not the case with HD, as there have been several reports here on RFD about comprised cards with fraudulent charges!

A snippet from HD's official response!

What data may have been compromised?
Payment card information such as name, credit card number, expiration date, cardholder verification value and service code for purchases made at Home Depot stores in 2014, from April on.
Deal Fanatic
Apr 16, 2007
7073 posts
1971 upvotes
Financial District B…
vkizzle wrote:
Sep 17th, 2014 9:33 am
Not the case with HD, as there have been several reports here on RFD about comprised cards with fraudulent charges!

A snippet from HD's official response!

What data may have been compromised?
Payment card information such as name, credit card number, expiration date, cardholder verification value and service code for purchases made at Home Depot stores in 2014, from April on.
Ok I should have clarified, FI client data stored over multiple system platforms

Home Depot breach was a POS system hack from the Black POS malware which collected client data during swipe transactions.
----------------------------Licensed Credit Bureau member, S1, FI Automotive, CCP forums most banned = x 13 and counting, guess who that is?... stomped to the curb once again

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