Nope. It doesn't protect YOU. It protects the bank. The LAW protects you - you have ZERO liability for fraudulent charges. While there is the nuisance of waiting for a new card, there is no reason to worry about CC fraud. Funny how many ppl have been trained by the banks to think that taking all kinds of security precautions (as evidenced by the comments here) is somehow "protecting" you. I couldn't care less if my card number/CID get stolen. In fact it happens frequently. So far in 2021, $10K charged at an electronics store in the UK, $700 charged for some diet food service, all my Chase points stolen for Apple gift cards, and $1200 to a Vegas hotel I haven't stayed at (all different events and different cards). None of the physical cards were lost/stolen - this was all electronically compromised (probably by merchants with bad cybersecurity). I just call the bank, they credit my account and express mail me a new card, and we start all over. No big.
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Apple Card Gains Advanced Fraud Protection in iOS 15
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While all of these new abilities are nice, I’m interesting on when will the Apple Card have the ability “to apply from the UK 🇬🇧“ 🤞
Until I can sync Apple Card transactions with Quicken, Apple Card is a joke to me as I am not interested in manually importing my transactions each month - that is something I would do 20 years ago, not in this day and age.
You are not wrong. I use the Apple Card for Apple purchases only, so I'm only manually entering a couple transactions a month, which isn't a huge deal. But it's never going to be a card I use beyond that unless they make that change.
Well, that and it didn't offer a good cash back for non-Apple purchases...
Everyone here is as pissed as you that Apple hasn't updated our ancient game consoles 😂
Consumer Tech is pretty mature now, not much left to innovate until people become comfortable with implants and other form factors. Thanks for supplying a humourous dose of MacRumors bitterness to my morning coffee 👍
Can anyone test this feature with Walmart Pay and Kroger Pay? I won’t turn it on unless these work.
Except that the waiting for the new card part is the part that would piss me off. And hour long phone calls and visits to all the websites to set everything back up. I’d rather protect it from the get go.
Disputing charges gets you your money back, but by that point the fraud has already occurred and someone is already out the money - either the credit card company or the retailer. Either of which lead ultimately to higher prices or higher interest rates. Wouldn’t it be better to prevent the fraud from happening in the first place? That’s what this is designed to do.
You’re the reason we can’t have nice things. You either have unbelievably bad luck, or you’re not exercising any care about how you use your credit cards, because you don’t care, because you get your money back. Do you think you getting your money back magically makes everything better? If the fraud happens, either the credit card company or the retailer loses that money, and they have to make it up somehow. That means higher prices, or higher interest rates, for everyone. Yes big.
Interesting! I don't keep any cards stored on Amazon so I enter CC info whenever I make a purchase. There must be some kind of algorithm that determines what AMZN asks for at checkout that can differ by customer.
Yeah, Quicken is something I did 20 years ago, not in this day and age. It’s too retrospective. If someone likes that kind of financial approach, being able to sync old data would probably be helpful, though.
I heard an explanation once - I don't know if it's true, but it makes some sense - that the credit card companies don't just accept/decline every transaction, but rather score it based on what information is presented and how well it matches up with what they have on file (including lots of little things, like does the transaction have your 5-digit zip code while their data has your 9-digit zip code or vice versa), and transactions where the data matches most closely get the best fee rates, while more iffy transactions cost more to process (effectively insurance for the credit card company in case of fraud), and both ends have some latitude on how much risk they're willing to accept (and, of course, the retailer has to decide how much processing cost they're willing to accept). And I'd guess that Amazon has invested a whole lot of time and money into their own algorithms for accessing the risk of any given transaction.
(sigh) I don't do anything unusual, other than spend about $20k a month on cards. At that volume, it is inevitable that some of the hundreds of merchants I deal with will have a breach or intrusion. But thanks for blaming me for fraud. And no, it doesn't make prices higher for everyone, that is a myth your corporate masters have convinced you of. The only impact is that Chase and Citi CEOs may have a little less exotic gold trim on their $100M yachts and jets. You do realize that all the fraud combined is a tiny blip in corporate profits that are so obscenely exorbitant that they don't even have any interest in investigating the fraud - they just refund and move on.
I don't have much faith in it, but then again they do have a lot of technology. Their web-wrapper app though always makes me think otherwise.
That is not true. Amazon and Paypal saves the CSC/CVV and might ask you to confirm it (ie when using a new delivery address).
only thing that’s neither saved or prompted is the pin for the cards that have one
Well isn't that what anyone cares about? Their money? I don't worry about interest rates because I pay my cards off. Hate it for a mom and pop shop that does online sales because they're the ones at most risk
Quite honestly I'm not sure that rotating the 3/4 digit code will matter when people who get new cards and haven't used them have already had them compromised.
It's part of the game. Would probably be better to have some push notification to your phone that you have to approve whenever something is charged except things that you have set up with a subscription but even that would probably get defeated eventually.
If Apple wants to add another level, have at it, I do like using Apple Pay because it doesn't transmit your card data is how I understood it but done by token, could be wrong.
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No they don’t:
As a security measure, merchants who require the CVV2 for "card not present" transactions are required by the card issuer not to store the CVV2 once the individual transaction is authorized.[8] This way, if a database of transactions is compromised, the CVV2 is not present and the stolen card numbers are less useful. Virtual terminals and payment gateways do not store the CVV2 code; therefore, employees and customer service representatives with access to these web-based payment interfaces, who otherwise have access to complete card numbers, expiration dates, and other information, still lack the CVV2 code.
The Payment Card Industry Data Security Standard (PCI DSS) also prohibits the storage of CSC (and other sensitive authorisation data) post transaction authorisation.
It is good to know that your bank already uses it. But my bank is like, meh. No emails/newsletter about their current tech.
When I first applied, they did not mention any fraud protection or anything. Maybe I should ask. This is also the reason why I am quite amazed by what Apple did.
Maybe I am that just unaware of the latest tech nowadays.
"more secure by changing the three-digit security code associated with the card on a regular basis"
Changing any password regular is NOT secure (well, it is, but confuses the hell outta users)
Making a strong password is better..
Now, for a company focused entirely on privacy they sure do seem like adopting the same sort of options to gain their "goal"
Changing any password regular is NOT secure (well, it is, but confuses the hell outta users)
Making a strong password is better..
Now, for a company focused entirely on privacy they sure do seem like adopting the same sort of options to gain their "goal"