Every January for the last two years we get a call from Wells Fargo Fraud Services about fraudulent charges on our credit card. While I appreciate them calling to check on suspicious charges, I'm very careful with my card (don't use it at unknown sites, don't give it to unknown people) and I don't understand why my card information keeps getting out. Wells Fargo never releases the information about who stole it and used it fraudulently, so I can't protect myself from that vendor. What makes me suspicious about their card security is that it never happens with any other credit card I have, only my Wells Fargo card. Also, it takes them 7-10 days to get me a replacement card, but they'd be "happy" to send it faster for just $16.
Sounds like a great moneymaking scam to me. "Accidentally" release someone's credit card info, get some fraudulent charges that hopefully the card holder won't notice (thus paying more to the card company, plus they get the fee for credit card usage from the vendor the card was used at). If the card holder notices, oh well, $16 to get your card (and account) back sooner so it doesn't interrupt your life too much. Scam Scam Scam
1) Release the info about who used my card fraudulently (if there actually is such a person) so that I can stop doing business with them. This would also serve to let me know that it isn't Wells Fargo themselves being loose with their card numbers.
2) Keep our card numbers/info more secure, just in case it IS Wells Fargo with the security breach.
3) In the case of clear fraud, send the replacement card ASAP, so it interrupts our lives less. Don't try to make additional money off someone who just got ripped off. Sending the replacement card ASAP gets you a happier customer who can then keep using your card. Right now, I have to go switch all my automatic payments to another card. Let's see if I bother to switch them back.
Product or Service Mentioned: Wells Fargo Account.