Possible Card Breach at Michaels

Possible Card Breach at Michaels

January 30, 2014         Written By Bill Hardekopf

Another major retailer may have had a data breach on debit and credit cards: Michaels.

Four separate financial institutions have traced hundreds of fraudulent purchases back to debit and credit cards used at Michaels.

Michaels is working with law enforcement to investigate the potential hack. One of the fraud analysts working the case has found a number of fraudulent activities associated with Aaron Brothers, which is solely owned by Michaels.

Michaels is the country’s largest arts and crafts retailer, operating over 1,100 stores around the country as well as selling products online. The store offers a wide range of products for various hobbies at prices to suit most budgets.

“While we have not confirmed a compromise to our systems, we believe it is in the best interest of our customers to alert them to this potential issue so they can take steps to protect themselves, for example, by reviewing their payment card account statements for unauthorized charges,” said Michaels CEO Chuck Rubin in a statement.

Michaels has already gone through its fair share of credit card hacks. In 2011, the store lost 94,000 credit and debit card numbers due to replaced PIN pads at 20 of their stores. A year later, two men were caught trying to use more than 1,000 of these cards to draw money out of ATMs.

If you have recently used your credit or debit card at Michaels, keep a close eye on your account. Immediately report any unauthorized charges to your issuer.

The information contained within this article was accurate as of January 30, 2014. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
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