The developing story of the massive security breach is a credit or debit card user nightmare for the consumer. The number may top ten million card users impacted over this data breach that was through Global Payment Systems that provide payment processing services for Visa and MasterCard. Consumers may fret over the uncertainty of impact to their respective credit and debit accounts. Consumers may fall into one or more of four categories. First, Debit Card users of Visa and MasterCard with a history of card being hacked or compromised at their current banking institution in the past, and this includes new cards or checking account numbers issued, Debit Card users having zero history of debit card hacking or fraud, Credit Card users with history of fraud at current bank, and Credit Card users with zero history of fraud at current bank.
Debit Card Users with personal history of fraud or hacking at current banking institution:
BTW: My professional background is the financial services industry with expertise in all areas of the bank including debit and credit card security strengths and weakness, and my personal experience as a consumer has brought forth situations to surprise me as an expert. The everyday consumer is unaware of the unique situations or potential impact in the near term during a massive breach such as the current one. My current institution was hacked by a Nigerian group and my Visa debit card was one of the numbers that was compromised. After the first time, new card numbers were issued, but this compromise would occur three more times to my debit card within 3 years. The following tips will avoid the nightmare scenario that I experienced.