Wednesday, July 11, 2007

Credit cards/fraud protection

I personally feel it is the credit card industry which has caused this whole identity theft problem. I remember my parents had one credit card when we were kids - I think it was a Master Card and I am not sure when they even got it but I am pretty sure there was not much use if any of such a thing. Today everyone has lots of cards or at least it seems that way. We used to get applications all the time in the mail. It seems they will give anyone a card. SO.....if they have your personal information they can try to get a card. That stinks. As I said to Nat in the comment section a person used to have to work through their personal bank before they were ever given a card and they were also expected to pay it off. Even the Horner folk at one time in married land did not pay off their card every month. Fortunately that isn't true anymore but this idea of carte blanche was created by these companies. (Yes, I am venting). is our problem to protect ourselves from someone stealing our identity. It is also our problem (which I know is obvious) to discipline ourselves to not fall into debt traps. Sigh.

Why can't they have pin numbers for every transaction. The merchant is supposed to check the signiture of every purchase. I was sort of happy when you could pay at the pump since I had small children but I would bet our parents figured out how to pay for gas inside. I started paying at the pump because of all the scary stories of your children being stolen if you left them in the car and also that you would be accused of child abuse to boot. I guess I would send my dh to get gas for the car to avoid having the kids with me. don't need a pin number to use a credit card or debit card at the pump.

So the credit industry does not hold you responsible for fraudulant use. That's nice (very) but.....if they just required a pin number then this money would not be stolen from the merchants or the credit companies. Why is this so duh to me????

So there you go.....the Karin credit rant.

1 comment:

Kim said...

Here they require you to put in your 5 digit billing zip code to use the pay at the pump feature. It's not much but it is a bit of a deterent.