General > General Technical Chat

Credit Card, Bank Card NFC. The most useless function every invented

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SiliconWizard:
This is just completely unrealistic for any real-world use. There are definitely many worse sources of concern than this, just move on.

Berni:
Theft prevention is not about making it impossible to steal something. Just making it difficult enough for the thief to not bother.

Yes a RFID repeater attack is possible on a NFC bank card, but it takes so much setup(needs one person skimming the card and another using the stolen card info at a POS terminal simultaneously) to be able to steal one maximum contactless transaction worth of money.

Besides if you are worried about it you can still just get a metal sleeve for your card or a wallet with metal sheets embedded in it. This shields the card from harvesting enough power to power itself, so it wont work. Yet the card is still usable as NFC once you pull it out of there.

For me personally i don't bother with shielding my bank card since even if they do manage to pull it off i would loose at most 25€ and get a SMS about the transaction, so i can take countermeasures. I have lost more money to stupider things before.

tom66:
All of this is also pretending that we care that the bank loses the money.

At the end of the day, a fraud attempt like this (especially against a credit card in basically every Western country and probably beyond, but in all of EU also against debit cards) is protected for the consumer.

So unless you live on a bank balance of 100 euros regularly, it's unlikely you'll miss the funds.  You'll get a notification, call your bank up, cancel the card and the transactions, and "7-21 working days later" the money will be back home.

Bassman59:

--- Quote from: tom66 on March 16, 2022, 08:05:42 am ---All of this is also pretending that we care that the bank loses the money.

At the end of the day, a fraud attempt like this (especially against a credit card in basically every Western country and probably beyond, but in all of EU also against debit cards) is protected for the consumer.

So unless you live on a bank balance of 100 euros regularly, it's unlikely you'll miss the funds.  You'll get a notification, call your bank up, cancel the card and the transactions, and "7-21 working days later" the money will be back home.

--- End quote ---

I don't particularly care if the bank loses money, that's for sure. If my credit card is compromised, they'll sort it out.

The only thing I worry about is a debit card. Now I never use a debit card for purchases, just for the rare ATM withdrawal. Why? Because even though I'll eventually be made whole by the bank if the card is compromised, the last thing I need is for mortgage or other payments to bounce in the interim.

Really, there's no good reason to use a debit card for purchases. Use a credit card, get the consumer protections/warranty extensions/etc the card issuers give as benefits. Take advantage of the 1-cent cash back. Just pay it off every month and there's no cost to using a credit card.

PlainName:

--- Quote ---there's no good reason to use a debit card for purchases
--- End quote ---

It's instant settling of a debt, as opposed to having several debts hanging around for a month before they all hit you at once. If you are not the sort that gets turned on with columns of numbers and really understand that your current balance of, say, £300 is actually going to be a debt of £50 next week already so, no, you can't afford that fish'n'chip supper tonight, then not having any debt around longer than it takes to pocket your card is dead useful.

That isn't saying that credit cards don't have advantages, some of which you note. But debit cards are not advantage-free and there are good reasons for using them.

A quite good reason for having one (credit card), even if you don't want the delayed debts, is for credit worthiness. If you have no cards and no debts your credit rating will be lower than if you have a card and some debts. Shove a fiver on the card, pay it off every month, and your credit rating is boosted quite nicely since it shows you can regularly service debt.

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