I've never had a card cancelled because of breches or early payoff, but I do have a card on which I explicitly requested a low limit start cap creeping.
Way back in the 1960s there were still bamks doing accounting on EAM equipment or computers programmed to look like old EAM processes. I once overpaaid a CC bill and the next month's statement was hand processed. I assume that no bank has that particular issue any more. -- Shmuel (Seymour J.) Metz http://mason.gmu.edu/~smetz3 ________________________________________ From: IBM Mainframe Discussion List [[email protected]] on behalf of Bob Bridges [[email protected]] Sent: Friday, June 17, 2022 9:01 PM To: [email protected] Subject: Re: Debit vs Credit card for cash at ATM? [was: RE: Modernize Mainframe Applications for Hybrid Cloud with IBM and AWS] I've been caught in only one breach (that I know of). But that sort of thing is the main reason I try to use PayPal as much as possible for on-line shopping. It's not that I assume PayPay will take better care of my data than other vendors (though I hope they do) - but I like giving my card to only one vendor rather than many, thus reducing my risk. I'd be interested in some knowledgeable cove's comments on something else I do with my credit card that I don't think I've heard anyone else admit to. I had a single credit card for years - decades, I guess - and every so often the issuer raised the credit limit. ("You've been very responsible with your card. Here's a new credit limit: Go be just a little less responsible, please, take a vacation or something!") It got up to I think $24 000 or thereabouts, and then ten or twelve years back I caught swine flu and spent some months in the hospital, then some months more in a sort of rehab facility. (It was really an old-folks' home, but the point was that there were PTs there to help me recover, walk again etc). I wasn't able to work for almost a year, from Christmas Eve to about Thanksgiving, and for a while I had to let my credit-card balance rise. Once I was able to start making payments again, I paid it off pretty quickly - but the card issuer reduced my available balance every time I paid off more, then canceled the card in the end. I was eventually issued a new card, but with a very low credit limit - and my work used to involve travel, ie airfare, car rental and hotels. This card wasn't going to cut it. It took me a while to realize that the solution was simple: I simply put a few thousand on the card, as though it was a pre-paid. The credit limit is back up to a usable level now, but I'm still in the habit: I keep a negative balance on the card. Yeah, yeah, I know they're profiting from "borrowing" my money. But I pay the same either way, so I can't see that it makes a difference to me. Are there disadvantages I'm missing? --- Bob Bridges, [email protected], cell 336 382-7313 /* Do not hit at all if it can be avoided, but never hit softly. -Theodore Roosevelt */ -----Original Message----- From: IBM Mainframe Discussion List <[email protected]> On Behalf Of Phil Smith III Sent: Friday, June 17, 2022 18:21 Re card breach liability: yes, there's theoretically a $50 cap; de facto, it seems to be $0. I've never found anyone who's gotten hit for the $50, and I've asked hundreds of folks at dozens of presentations I've given on Payments. I have an unconfirmed theory that if you're a deadbeat-behind on payments, huge balance, etc.-they might try to ding you, but otherwise they're not going to risk ticking you off over pennies like that. ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [email protected] with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [email protected] with the message: INFO IBM-MAIN
