Exactly my point.
They inconvenience YOU to protect themselves.
I'm not liable for the fraudulent charges once I report it to the CC
company.
- sjl
----- Original Message -----
From: "Buck Calabro" <kc2hiz@xxxxxxxxx>
To: "Open discussion among iSeries Users" <cpf0000@xxxxxxxxxxxx>
Sent: Monday, July 02, 2007 2:12 PM
Subject: Re: [CPF0000] What Price Vaterland Security?
Am I the only one here who is _happy_
that they are declining the card?
Especially in light of the subject line, I think the point is that the
security model is worthless for protecting you, the card holder (and
payer of fees.) Under 'normal' circumstances, the cashier does not
ask me for ID and only rarely compares the signature on the back of
the card to the one I've just written. This security model means that
essentially anyone can use my card to buy stuff anywhere.
If someone steals your card, once you report it (in the US) you are
only liable for $50 of those expenses. The credit card company eats
the rest, which in the era of large lines of credit can be
significant. So, to stop _their_ losses, they institute fraud
detection mechanisms.
If they cared about your security and your convenience and your
benefit, cashiers would at least compare the signatures and if they
look iffy, ask for ID. If they really REALLY cared, they'd lift those
requirements if you keyed in your PIN, which is not stored on the
card, but at the credit card company (and in your head.) But that
would be expensive, and 'security' used here is a perversion of words
meaning 'for the benefit of the company and by the bye, screw you.'
This 'false positive' is exactly the problem with airport security and
all the other fun things legalised by the Patriot Act. You, a
legitimate, safe and secure traveller, consumer, student, etc. are
scooped up, profiled and summarily dumped into a morass of bureaucracy
all too often, while dangerous people ply their trade seemingly
unmolested.
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