Chapter 3 Cards—Know When to Hold ‘Em, Know When to Fold ‘Em

T.J. Maxx’s data breach that exposed the payment information of thousands of customers in 2007 resulted in $150 million in fraud losses, and much of it was pulled directly from customers’ bank accounts. Although credit card users got their accounts straightened out and new cards were in the mail within a few days, the case created major problems for debit card holders, who waited an average of two to three months to get reimbursed.51

Credit Cards

Credit card fraud is a wide-ranging term for theft and fraud committed using a credit or debit card to obtain fraudulent funds ...

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