Kabbage Debit Card Fraud
I know many of us, myself included, took advantage of the $300 Kabbage checking account bonus late last year. It was a nice bonus that netted me $600 towards my $25,000 earnings goal this year (did it for myself and my wife). The account also offers a decent 1.1% APR for anything sitting in the account so it was a useful option outside of the bonus. Because of that some people may have parked money there after earning the $300. If you did then you may want to lock up your debit card because of some Kabbage debit card fraud that has making its rounds.
A week or two ago my buddy Ivan alerted the MtM Diamond group to some fraud on his account. He got a text alert that someone had tried to use his debit card to make a purchase. He denied the charge and then went into his account and locked his debit card. At that point he wisely suggested we all do the same. I, unwisely, did not listen. I was traveling at the time and kind of forgot about it.
Last night my wife received a Kabbage debit card fraud alert that someone tried to make a $150 charge on her card. Luckily we only have under $2 in the account so there wasn’t much of a risk to begin with. She responded that the charge wasn’t her and I went in and locked her debit card. I then went into my account and did the same thing.
We only used the cards to make some loads on Amazon to fulfill the bonus requirements. I am not sure if that is how these people are getting the card info or if Kabbage (a subsidiary of American Express) itself was compromised. What I can say for sure is it didn’t come from a swipe anywhere. Because of that I would highly recommend you locking your card if you have any money in your account. You can then unlock before you need to use it, if you even need to. Then lock it back up after etc.
How To Lock Your Kabbage Debit Card
Here are the steps to lock your Kabbage debit card on a computer. It takes less than a minute so take the time right now. It takes longer to log into Kabbage’s site than anything.
Click on your checking account to open up the details. I tried going through the account drop down in the upper right corner but it doesn’t pull up your debit card info.
Once in the account click Manage Card. You can also take a look on this page if your card is currently locked or not. As you can see ours still is.
Once you click Manage Card you will be taken to this screen. All you need to do is hit the toggle to lock the card (or unlock it). That is it, you should be set now!
Kabbage Debit Card Fraud: Final Thoughts
That is all she wrote. Pretty simple process and it should secure you from anyone putting fraudulent charges on your Kabbage account. Even though I think their fraud alert system has proven to be pretty good I wouldn’t take the risk with a debit card. Since it is your money that gets locked up, versus the bank’s with a credit card, I wouldn’t mess around with it if you have any money in there.
Let me know in the comments if your account was compromised too.