What does a card compromise mean for you?

Worried man looks at tablet

Card compromise—what does this term mean? More importantly, what does it mean for your account?

Recently some big companies have fallen victim to hackers who stole card information. The financial world calls this card compromise. The thief’s goal is to steal magnetic stripe information, which holds card numbers, expiration dates and verification codes. This can lead to unauthorized charges on your account.

If you shop at places that are connected to the internet (nearly every merchant), some risk is involved. At TwinStar, our job isn’t to scare you, but to help you be aware of risk and stay informed on steps to take if your card information is compromised. So what can you do and how can TwinStar help?

  1. Act quickly At the first sign of suspicious activity on your card, call us immediately to block your card and open an investigation. A new card will be issued to you with a new card number.
  2. Change payments If your card number is attached to any of your bills, remember to change any reoccurring payments to the new card number to avoid missed or late payments.
  3. Be vigilant After you have completed these steps, stay on top of your account to ensure that the fraudulent charges were credited back to your account. Also, continue monitoring your account for any other suspicious charges.

TwinStar is here to help! TwinStar offers several services to help you be vigilant:

  1. TwinStar’s Card Manager App With this app you can control your card from your phone. You can turn your card off and on, get instant alerts about account usage, and control where and how your card can be used. click here
  2. The TwinStar Mobile Banking App This app allows you to securely monitor your accounts at the touch of a finger. You can transfer funds between accounts, deposit checks anywhere using mobile check deposit, and even communicate with us through secure messages. click here
  3. Fraud Defender This identity theft recovery service is available to TwinStar Credit Union members in good standing for a nominal fee of $2.95 per month. This service provides guidance and assistance in a situation where you think your identity might be compromised. click here

We hope you never experience a fraudulent situation with your personal finances. However, the more prepared you are, the better the outcome will be. The first step is always prevention. If you do find yourself in a possible fraud situation, we encourage you to call or stop in. The health of your finances is vital to us, and we’re prepared to help you get back on track.