Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 08-09-2020, 10:07 AM   #81
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 12,107
Quote:
Originally Posted by CaliKid View Post
Why would you care if the credit card company has lax security? That's their problem not yours, no?
In general I agree, it's more the banks problem than their customer's though there can be issues of you are depending on a card to pay an important bill.

You might end up like a friend of mine who had his credit card compromised on his first day of a month long trip. Getting the replacement card sent to a hotel in another state or a foreign country is not easy. He finally convinced them to send the replacement card to an affiliated bank that he visited in person and checked him out. Fortunately, he was staying in one place long enough since it took about a week.

Here at home I had a CC number compromised by crooks in France. The bank detected the problem (I'm not in the habit of buying takeout pizza in Paris without the card) and cancelled it. But, this card also paid my monthly gym dues and, you guessed it, I missed the payment since the card was rejected. The gym promptly fined me about $30 as per their contract and would not budge an inch.
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-09-2020, 10:19 AM   #82
Moderator
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 8,131
Quote:
Originally Posted by CaliKid View Post
Why would you care if the credit card company has lax security? That's their problem not yours, no?
It's really not either. Not the card holder, they get made whole. Not the credit card company, they just charge the merchants a higher fee to cover the card holder. Not the merchant, they raise their prices so they can pay the higher fee. Who then pays for CC fraud? We all do. Those of us who use cards pay less of it (because we get kickbacks). Those who pay the most are cash customers, since they pay prices that are set to cover credit card fees, but don't get the kickbacks. The CC companies don't have a huge incentive to eliminate fraud because they pass on the costs. The biggest price I pay is the inconvenience of having to lay out my travel destinations and occasionally still have problems. That's why I have a whole was of cards to fall back on.
sengsational is offline   Reply With Quote
Old 08-09-2020, 10:21 AM   #83
Moderator
braumeister's Avatar
 
Join Date: Feb 2010
Location: Flyover country
Posts: 18,184
Quote:
Originally Posted by Chuckanut View Post
You might end up like a friend of mine who had his credit card compromised on his first day of a month long trip. Getting the replacement card sent to a hotel in another state or a foreign country is not easy. He finally convinced them to send the replacement card to an affiliated bank that he visited in person and checked him out. Fortunately, he was staying in one place long enough since it took about a week.
I know that happens, but it's highly variable. When it happened to my debit card while in Scotland, I spent ten minutes on the phone with Schwab and they were willing to overnight a new card to the London hotel where I was going to be in two days. Phone call on Friday, new card in hand on Monday. Schwab's customer service was magnificent in that situation.
__________________
I thought growing old would take longer.
braumeister is offline   Reply With Quote
Old 08-09-2020, 12:27 PM   #84
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 11,321
Quote:
Originally Posted by harllee View Post
You need to freeze your credit at all the credit agencies ASAP. Freezing credit is much better than an alert. Clark Howard has a good article on how to freeze.
++++
Freeze is the way to go.
Easy, free, free to thaw, free to re-freeze. Stops them dead.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline   Reply With Quote
Old 08-09-2020, 03:29 PM   #85
Thinks s/he gets paid by the post
rk911's Avatar
 
Join Date: Dec 2018
Location: DuPage County IL
Posts: 1,404
Quote:
Originally Posted by Sunset View Post
++++
Freeze is the way to go.
Easy, free, free to thaw, free to re-freeze. Stops them dead.
absotively!
__________________
Rich
Ham Radio, Sport Pilot, RVer
FIRE: 8/11/2005, age 55y,1d
Administrator for a regional 9-1-1 call center
rk911 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
conservator accounts? hiding accounts from the ward Spock Other topics 22 03-26-2020 12:07 PM
Do you auto-pay your CC accounts? Cobra9777 FIRE and Money 108 02-08-2019 08:05 AM
How have you set up accounts for wife if you die first?? blenhardt FIRE and Money 88 06-14-2016 03:52 PM
Your accounts will pass to your account beneficiaries regardless of your will JustCurious FIRE and Money 21 03-22-2008 03:35 AM
Vanguard ... Ever Lost Track of Your Accounts? Craig FIRE and Money 3 01-02-2006 04:38 PM

» Quick Links

 
All times are GMT -6. The time now is 08:48 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.