fin 645

My Aerogold Visa has been "compromised" yet again, third time in as many years (and 9 months since the last one). It will be cancelled tonight (at least they were willing to get me through the weekend). I recall a thread on this before my posting days, but I am starting a new one to ask about the experiences of others with this issue. Has it happened to anyone while overseas (my greatest fear), has CIBC ever offered compensation (ie, miles) for ongoing inconvenience, as well as to retain a presently unhappy customer. Any strategies for having a second card that also earns AE miles and has a reasonable annual fee etc. Maybe I'll just apply for a new card with the most bonus miles being offered.

CIBC will not tell me why it was compromised, although I have since found out that a likely common cause is theft of the terminals used by merchants. I did not realize that they retain the card number (if not the PIN) rather than just being a communication device, which seems to me to be a gaping hole in Visa security. I wonder how secure AC's inflight terminals are?

I gather that it is not possible to make a new card with the encoded chip but it seems to me that as card security is allegedly improved (ie, the chip), my card is being compromised with even greater frequency.

Braindrain

Lots of reasons why it can be compromised - and not just skimming at the terminals. I've also had this happen with other banks.

You could get the AE Aeroplan basic card as crooks seem to want AE numbers less, or so I've heard. However, international acceptance of that card goes way down.

sksuh

I received 1500 Aeroplan from CIBC after my Aerogold Infinite problems in Sep 2009 during a visit to Amsterdam.

CIBC was actually quite useless for support during that incident -- I explained that I was calling from Europe and they told me to visit my local CIBC branch -- whereas Visa International came to the rescue with an expedited emergency replacement card couriered to my hotel from Brussels.

That said, the lesson of my Netherlands travel last year is "American Express, don't leave home without it". Visa is simply my backup card these days.

alc

My second card is the ClubSobeys MasterCard ($1 per 1 ClubSobeys Points). I set my ClubSobeys Points automatically convert to AEROPLAN (every 2 ClubSobeys convert to 1 AEROPLAN). ClubSobeys MasterCard is a non annual fee card. I am not aware any other CC on the market that earn AEROPLAN with no annual fee. CIBC AERO CLASSIC has a $29 of annual fee and having the same earning ratio ($2 per AEROPLAN) as the ClubSobeys MasterCard.

alc

yycworldtraveler

5,000 goodwill points after escalating my complaint to a supervisor after my card was compromised for the second time in less than a year.

Tangoer

I've noticed 2 major chain stores recently that had a chip terminal but still swiped my Aerogold card into the terminal. Looks like staff are not trained on how to enter a chip card. This kind of defeats the extra chip security (if any)

Sopwith

You've hit one of my hot buttons. I have had my RBC Visa card summarily cancelled at least four times. No explanation except that someone, somewhere decided it was "compromised" and refused to provide details. Outrageous! Last month my wife's Amex card was blocked without notice while she was out of town. Why? She used it to buy gas in another city, when she had never before used it outside of our home city. Again, outrageous!

As one who travels all over the world, I have completely lost confidence in Visa. I live in fear that they will sooner or later leave me stranded in a foreign country. It's just a matter of time. I do carry a second card as backup, which I have already had to use at least once (Jakarta, of all places).

The credit card companies need to realize they are facing a cricis of confidence among their customers. The customers need to keep the heat on, or we risk getting summarily stranded in some far-off land without recourse.

End of rant.

Sopwith

The other thing that sets me off is when they start in on the "It's for your protection." story, which is, of course, complete and utter horse puckey.

(I guess the rant wasn't quite over.)

sksuh

As one who might happen to be employed with a large retail entity, be advised that while most recent POS pinpad devices are technically Chip compatible, not all have this functionality enabled.

Our company is waiting for a simultaneous nationwide deployment of this feature within a few months while other companies might be waiting for software updates.

canflyer

I used to have the CIBC Aerogold card and it was compromised on three occasions in two years including once when I was travelling. This was extremely frustrating and poor customer service- as there seems to be no hurry to expedite a replacement card.
Finally I terminated the card witht eh third instance and now have the RBC Avion which (knock on wood) has had no issues in three years.

CF

pilotboy1985YYC

My time to Rant

That's right, because we stop and think to our self " How can we make this clients day miserable? I know, let's deactivate their card and tell them it was compromised!" we then give high fives in the office.

Seriously people, it's for your own protection. See these news stories?

http://www.cbc.ca/canada/manitoba/st...-winnipeg.html

http://www.cbc.ca/consumer/story/201...ard-scams.html

http://www.cbc.ca/consumer/story/201...-skimmers.html


do you think the banks are behind this? Of course not, it's crooks trying to steal your money.

Everytime I have a client complain about their card being compromised I wish I could leave a message on the system saying to NOT DEACTIVATE the card next time we think the card is compromised because the client takes all responsibility and waives all protection. That way next time we know it's been compromised their card doesn't get deactivated they are just missing $1000's from their account that they will have to pay back without our assistance. The client can then figure out which is better, being out $1000's or waiting a day for a new card but still having all their money.

ylwae

That's true to a point, but the banks stand to lose something as well. And the vulnerability of the cards is not the consumer's fault.

I once was buying a Thai airways ticket on Thai's website with my VISA Aerogold. When it came time to enter my "Verified by VISA" code, I couldn't remember it and entered the code incorrectly. So I cancelled the transaction and used a different card.

Then, when I was out of Canada and used the Aerogold, I immediately got a call from VISA saying the card had been compromised and they were going to cancel it. The agent actually told me that the Thai transaction was suspect, and I explained what had happened. That got me nowhere.

As others have noted, a bigger problem is that CIBC's VISA section will NOT help you get a replacement card. The solution the agent I dealt with proposed was "use another card". And there was no compensation for the inconvenience.

cinycat

This just happened to me last month. I was furious at CIBC VISA. It took more than 10 days to get me a new VISA after they said it would be here in less than a week. Then I found out that they could have gotten it to me in 3 days. Even my bank manager at CIBC was furious (and he had gotten in on the action).

Bottom line is that they did refund me the #120 membership fee as well as something else. I now have an AMEX card. Keep after CIBC VISA.

Sopwith

Bingo. In my experience, dealing with the CC company in the aftermath of a cancellation is a bigger problem than the cancellation itself.

And I still don't buy the "Its for your protection story". If the CC companies start stiffing the customers (and not even telling them how/when the card was "compromised"), what little confidence is left in the cards woud instantly evaporate and the fallout would cost them billions.

If you want to be serious, the CC companies need to find a way to deal with fraud without leaving the innocent customers holding the bag.

The reality, Mr. CC Company Executive, is that I don't trust your card to work when I need it. It seems to me that when you lose the trust and confidence of your customers, you're looking at trouble.

fin 645

Thanks for the constructive suggestions about alternatives - the Sobeys MC looks like an excellent backup.

As for CIBC Visa's Customer Service, I just got off the phone with them, and it wasn't easy. It will take 3 or 4 business days for a new card. The security agent could not handle an "incentive to stay with Visa" request and put me through to Customer Service, where the agent just wanted at argue with me, and as the conversation escalated to a shouting match (he would not listen and at one stage said that security could have handled it). So I did the inevitable and asked for a supervisor, with whom I did have a rational conversation, was offered some meager incentive/compensation miles, and strongly suggested (as per the discussion on this thread), that CIBC Visa would do well to improve its ability to quickly handle a compromised card situation.

I am also going to get an AMEX gold card and see how it goes. Their annual fee appears to be the same as Visa and the incentive miles worth a try.