Credit card rant

[JDgreen227]

Thanks to all for the responses and advice...someone mentioned using Paypal for online purchases but my card issuer STILL requires me to call them first over $500 even when I DO use my Paypal account.

 

[3930dave]

Bird - we are still old fashioned enough in Canada that a lot of stations will let you pump gas first, then go inside to pay with CC, debit, cash. Bad areas are all pre-pay, some 24x7.

I seriously object to how they pre-authorize for $100, then take a long time (days) to release the hold when you pay at the pump. The airline scenario I would find hard to believe, if I had not been talking to a major CC company.

My favourite truck stop still allows you to pump more than $100 of fuel, then go in and pay for it - at least during the day. Nice if you have a good sized tank, having to do split transactions on pumps limited to $100 is a PITA, esp. if you are in a hurry, and want a full tank.

Rgds, D.

 

[jinman]

Hey Bill! I've got a great idea. Just give me your card no., expiration date, and security code and I'll get this all straightened out for you.

 

[timster2]

Tried to use one of those prepaid visa cards, that I got from the power company for switching suppliers, at a restaurant and it got refused. Seems that although the bill was only forty dollars or so, the card had fifty dollars on it, when the card was swiped the CC company automatically puts a seventy five dollar hold on the card. Since the card was only good for fifty it was rejected. Waitress said that this happens all the time with the prepaid "reward" cards. Years ago I would have been embarrassed but now a days its just one of those things that happens to just about everyone. Good thing I had another card to pay at the time as I was low on cash and it was a spur of the moment thing that the wife and I decided to use the card rather than make dinner.

 

[big lar]

You should be grateful that Chase is monitoring your account so closely since you historically do only small purchase. When we go on long-distance trips, wecall our c/c account, tell them where we are going to be so they will not be suspsicous. You could do the same; you CALL THEM when you are going to make a big purchase.

My wif'e debit card was compromised earlier this year; don't think it can happen to you? Yeah it can. Our bank's monitoring service call ed us at 10M on a Sunday night, questioning some tranasactions that were popping up from 500 miles away, and many more came in the next day. We weren't liable but because it was caught quickly, we didn't have big hassle, got a new debit card 3-4 days. You should be grateful. Our son in laws' debit card was similarly compromised, no monitoring service, he had checks bounced all over the place.

 

[kco]

You should be grateful that Chase is monitoring your account so closely since you historically do only small purchase. When we go on long-distance trips, wecall our c/c account, tell them where we are going to be so they will not be suspsicous. You could do the same; you CALL THEM when you are going to make a big purchase.

My wif'e debit card was compromised earlier this year; don't think it can happen to you? Yeah it can. Our bank's monitoring service call ed us at 10M on a Sunday night, questioning some tranasactions that were popping up from 500 miles away, and many more came in the next day. We weren't liable but because it was caught quickly, we didn't have big hassle, got a new debit card 3-4 days. You should be grateful. Our son in laws' debit card was similarly compromised, no monitoring service, he had checks bounced all over the place.

My opinion and experience is similar to this post. We use just one Mastercard each but have a Visa "spare" for backup. When I went to England a year ago I called both companies to let them know, and they both wanted the duration so they could revert to "normal" monitoring when the trip was over.

Friday, I got a call saying my Mastercard has been compromised and a new one is on its way. My wife got a similar call yesterday. I checked online as soon as I got the call and there were no inappropriate charges. I'm unable to check now since they unlinked the card from the bank account. But the two calls five days apart suggests to me Mastercard or a large supplier (the only one my wife and I both use is Amazon) has had some kind of general breakin and they are taking precautionary steps. Our phone calls stated our present cards will still work, but with a daily $500 limit. I hope that is true because I have a couple of automatic utility payments that will happen soon.

It is a big inconvenience but necessary. When I get the new card I'll have to update several suppliers' (hydro, phone, tv, internet....) sites.

I'm not a fan of credit card companies because I think they over charge merchants (I think average of 2%) and gouge those who run balances. However, they do make life easier for me and they are good at running their businesses.

 

[CBW1999]

Hey Bill! I've got a great idea. Just give me your card no., expiration date, and security code and I'll get this all straightened out for you.

That's rough..........

 

[JDgreen227]

That's rough..........

Yeah, those Facebook friends I have really want to look out for my best interest....:laughing:

Tell you guys what my real issue is about having to call to get authorization over $500 for a charge: I cannot hear nor use a phone of any type, meaning the cell phone call probably 99% of you take for granted isn't possible for me. To contact my credit card company I need to be at home and use a TDD, and 2/3rds of the time the TDD # at Chase isn't working so I end up using the Relay Center which means I have to provide all my CC information to a third party (Relay operator) and I absolutely HATE doing that. Wouldn't you?

 

[zzvyb6]

Thanks to all for the responses and advice...someone mentioned using Paypal for online purchases but my card issuer STILL requires me to call them first over $500 even when I DO use my Paypal account.

My PayPal account is tied to a checking sub-account, not to a credit card. Also, my Mastercard account has some online menu choices about notifications for charges over a certain amount, non-network charges, USPS paper bills, current balance notification schedule, etc.

Can you go online to the Chase account and adjust these settings?

 

[CinderSchnauzer]

Well for me Credit Cards are a major asset in my financial toolbox. I usually carry $200 or so cash in my wallet, but can often go days or weeks without a cash financial transaction other than the occasional lottery tickets. All my cards are "no annual fee" and whenever possible I charge all large purchases to a card to earn rewards points or whatever the card incentive. For example, often large purchases at Home Depot are Interest Free / payment Free for a year with their card. When the statement comes in I pay off the balance in full. Even my favorite coffee shop has their own card that refills automatically as a charge to my CC, so I don't even need cash for that.

For those in a family unit where one member maxes out the CC and pays interest (probably in range of 18% - 30%) and another member hardly uses a card, sounds like an opportunity for some creative financial planning / counseling. Even if the penny saver loaned the spender money @ 10% the family unit would be further ahead.