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May 6, 2003

Credit Card Purchases Trigger Phone Call from Bank

Some time ago a credit card company ran some commercials with a bunch of feel good marketing about how the credit card company would notice when the purchases on the card seemed strange and call the customer to verify the purchases were OK. I laughed pretty hard at that . . .

Monday we get home from Vermont and there is a message from our local bank, Wainwright Bank, asking to call them back due to some strange activity on my card.

I call back and the woman says they've noticed some strange purchases on our card and want to verify them. She then goes through the last 5 purchased, all of which were made in the past two days in Burlington (and one for some tunes at the Apple store).

I am impressed. Yes the purchases were different from normal transactions (based on location), but the speed in which they detected some odd behavoir and contacted me was most surprising.

I would love to get the rundown on the algorithm used to determine when the flag goes up to make a call.

Posted by mike at May 6, 2003 11:19 AM