So, the operation of Credit Cards is apparently stuck in the last Century. The major suppliers of credit cards have not kept up with the requirements of the modern age of online transactions.
On-line Credit Card Fraud is a Major Headache
Case in point: My credit card was used Fraudulently. I have a couple of cards, one for physical transactions where I’m always present – well almost always present. And another that I only use On-Line. Of course, the fraud involved the credit card that was used online. I purchased some Game Currency from a game I play a lot for $10, and less than a week later someone tried to purchase $5599 at Best Buy. There was a lot of confusion about whether the transaction occurred On-Line, but the address was given as Minneapolis, Minnesota. Which is far from where I live. So the transaction was declined, and I was alerted. But that’s not the end of the problem. That card number is now stopped. It can no longer be used. And if this were last century, I could just use another of my few cards to eat take-out at restaurants, or buy groceries.
But this is 2020, and that credit card is in the hands of over a dozen on-line merchants whose computers will automatically try to use it on some random schedule to provide services that I use. These include Netflix, my internet service, my satellite tv service and so forth. I’m “waiting four to five business days” for the new card to arrive. And any of these days one of these many services’ computers might try to use that dead card. To say nothing of the fact that it will take an hour or so to go through all the services’ websites and give them a new card number. I need a better way.Continue reading “Credit Cards Stuck in Last Century”