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Chase Canceling Fraud Protection

Discussion in 'General Discussion | Credit Cards' started by rodeojones, Aug 25, 2013.  |  Print Topic

  1. rodeojones

    rodeojones Silver Member

    I searched MP and FT and found no mention of it anywhere.

    My wife and I both have received notices from Chase that beginning November 1, Chase will no longer be offering fraud protection for their Hyatt and Ink Bold products. I called Chase customer service and was told this was across the board for the Hyatt card and just yesterday I received the same notice for my Ink Bold.

    Fraud protection is something that I consider to be very important and will be canceling both sets of cards unfortunately. Two weeks ago my wifes Sapphire card was fraudulently used for $20,000 worth of online purchases in Australia. Had we not had the fraud protection, we would have been on the hook for that.

    I'm especially disappointed in the Ink Bold since I spend $500.00 monthly on cell/cable bills. The lack of fraud protection cancels the benefit in my case.

    Anyone else get this notice??
    Kalboz and Gargoyle like this.
  2. servo

    servo Silver Member

    My notice for the Sapphire Preferred and Ink Plus both said they're canceling ID Theft protection. It didn't mention anything about "fraud" protection. Verbatim from my letters:

    "Please note that ID Theft Coverage will be cancelled. All changes are effective November 1, 2013."
    • Original Member

    LETTERBOY Gold Member

    :confused: In the US, if your credit card is used fraudulently, your liability is limited by law to $50.
    zphelj, garyst16, Kalboz and 7 others like this.
  4. rodeojones

    rodeojones Silver Member

    Mine said the same "ID Theft Coverage" which I assumed was the same thing.

    So I called Ink Bold and a CSR explained that "ID Theft Coverage" is a $9.95 benefit and is separate from "fraud protection". The CSR stated I don't have the feature and should have never received the notice. Strange since both my wife and I never had the feature but we both received the notices for our Hyatt card.

    Sounds like I was overly alarmed.
    Kalboz and Gargoyle like this.
  5. rodeojones

    rodeojones Silver Member

    Did not know that...thanks.
    Kalboz and Gargoyle like this.
  6. servo

    servo Silver Member

    Better to be overly alarmed than to be naive, in my opinion. :) I looked into it also, but after reviewing everything, concluded that it wasn't a big deal.
    Kalboz, Gargoyle and rodeojones like this.
  7. boondr

    boondr Gold Member

    I am not entirely sure but I don't think that applies to business cards. Most of those consumer protection laws are for personal cards only and don't automatically apply to business cards.

    Rodeo, you may have never had the fraud protection you thought you did on the INK products.
  8. MSPeconomist
    • Original Member

    MSPeconomist Gold Member

    Correct, and most credit card companies will waive the first $50 if you report the problem promptly. IIRC the protection applies to USA issued personal credit cards worldwide and does not include debit cards.
  9. William JLP

    William JLP Gold Member

    We got a call from Chase's fraud department a couple of weeks ago when they detected that one or more than one person was attempting to use her Ink card number to purchase Ethiopian Airlines tickets, along with several other random purchases. They might have been a little more alert because she had notified them that she would be travelling in Europe, but it was very nice to see that they picked up on it in a hurry and decided to let us know.
  10. rodeojones

    rodeojones Silver Member

    Similar experience with my wife's CSP that I noted in my OP. Chase caught it same day...
    Kalboz likes this.
  11. William JLP

    William JLP Gold Member

    Yeah, I just thought I'd throw it out there because it was a business card.

    They also caught something on my Sapphire card a few months ago. Instead of mailing the dead card in, as instructed, I still have it and will eventually have some fun destroying it.
  12. boondr

    boondr Gold Member

    Good luck with that, took me a blow torch, anvil and hammer to make my CSP unrecognizable.
  13. William JLP

    William JLP Gold Member

    Like I said, going to have some fun.
    boondr likes this.
  14. flynhwn

    flynhwn Silver Member

    Chase is cancelling ID Theft Coverage and NOT Fraud Protection. Fraud Protection is when someone uses your card for purchases. ID Theft Coverage is the cost incurred by you if you had your identity stolen. I believe i was for up to $5,000.
  15. Jenny & Curt
    • Original Member

    Jenny & Curt Gold Member

    Someone went to a clothing store in Florida last week with our Chase Freedom. As that particular card is usually only used for bonus categories, it is pretty easy to assume that there was a skimmer on a gas pump somewhere, as we had both of our cards with us but the CSR said the person charging $400 worth of clothes had a physical card. Chase overnighted us our new cards when I told them we'd be leaving right away on another trip, and wanted to get the bonus on our gas spend.
    rodeojones and William JLP like this.
  16. NYBanker
    • Original Member

    NYBanker Gold Member

    And, assuming you have quality homeowners insurance, you'll likely have $10k-$25k of identity theft coverage under that policy.
  17. rodeojones

    rodeojones Silver Member

    That is something I will look into with my insurance company. I was not aware of that...great info.
  18. travelmystic
    • Original Member

    travelmystic Silver Member

    ID Theft protection on house insurance is usually an additional nominal fee. Our agent suggested it to us several years ago and since we travel a lot we added it to our policy.

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