Casper Posted April 18, 2014 Report Share Posted April 18, 2014 http://www.zdnet.com/michaels-stores-confirms-data-breach-3-million-cards-affected-7000028563/ Doh. Quote Link to comment Share on other sites More sharing options...
zx3vfr Posted April 18, 2014 Report Share Posted April 18, 2014 And why are we still using 20+ year old technology when every single other country uses the chips that assign new encryption codes each swipe? This is why I own no credit cards and havent swiped my debit card in over a year Quote Link to comment Share on other sites More sharing options...
2talltim Posted April 18, 2014 Report Share Posted April 18, 2014 And why are we still using 20+ year old technology when every single other country uses the chips that assign new encryption codes each swipe? This is why I own no credit cards and havent swiped my debit card in over a yearCredit card company's are the ones that take all the risk. If your card is hacked they have to reverse the charges and it's their problem. Don't see the logic in being overly paranoid. 1 Quote Link to comment Share on other sites More sharing options...
zx3vfr Posted April 19, 2014 Report Share Posted April 19, 2014 Credit card company's are the ones that take all the risk. If your card is hacked they have to reverse the charges and it's their problem. Don't see the logic in being overly paranoid.It doesn't make sense to use a credit card to me any way. If I can't afford it I'm not going to buy it. Quote Link to comment Share on other sites More sharing options...
smccrory Posted April 19, 2014 Report Share Posted April 19, 2014 (edited) Credit cards provide certain buyer protections that debit cards, cash and checks do not. Pay them off EVERY month and you'll have emergency credit available as well, for stuff like sudden medical deductible expenses, tow truck, etc. Edited April 19, 2014 by smccrory Quote Link to comment Share on other sites More sharing options...
Casper Posted April 19, 2014 Author Report Share Posted April 19, 2014 Credit cards provide certain buyer protections that debit cards, cash and checks do not. Pay them off EVERY month and you'll have emergency credit available as well, for stuff like sudden medical deductible expenses, tow truck, etc.This. And if you get a Barclaycard World Arrival, you get two points for every dollar. It quickly racks up to free travel. Quote Link to comment Share on other sites More sharing options...
Tonik Posted April 19, 2014 Report Share Posted April 19, 2014 Credit card company's are the ones that take all the risk. If your card is hacked they have to reverse the charges and it's their problem. Don't see the logic in being overly paranoid. No reason to be paranoid, but plenty of reasons to be pissed. We pay for the fraud in higher prices. Quote Link to comment Share on other sites More sharing options...
smccrory Posted April 19, 2014 Report Share Posted April 19, 2014 This. And if you get a Barclaycard World Arrival, you get two points for every dollar. It quickly racks up to free travel. I'm more a fan of cash rewards out of fury over travel mile redemption restrictions, but some cards do it right. No reason to be paranoid, but plenty of reasons to be pissed. We pay for the fraud in higher prices. Absoluely, and yet another example of risk pooling. It's entirely true that the billions of us paying with credit cards effectively raise the cost of goods a few percent, but merchants long ago already absorbed the increase, which in reality simply shifts the risk of fraud to the credit card companies, who treat the whole thing as an insurance play carefully risk-mitigated by actuarial tables. Quote Link to comment Share on other sites More sharing options...
Casper Posted April 19, 2014 Author Report Share Posted April 19, 2014 I'm more a fan of cash rewards out of fury over travel mile redemption restrictions, but some cards do it right.Absoluely, and yet another example of risk pooling. It's entirely true that the billions of us paying with credit cards effectively raise the cost of goods a few percent, but merchants long ago already absorbed the increase, which in reality simply shifts the risk of fraud to the credit card companies, who treat the whole thing as an insurance play carefully risk-mitigated by actuarial tables.The Barclaycard has no restrictions at all. You get two points for every dollar. Points can be used to pay on your balance. If you use them to pay for travel related expenses, you get like 10% of the points back. It's pretty awesome actually. 1 Quote Link to comment Share on other sites More sharing options...
zx3vfr Posted April 20, 2014 Report Share Posted April 20, 2014 And everytime you swipe your card for points or cash back it costs the business money. In the end the onlympeople who makemout are the bankers. Quote Link to comment Share on other sites More sharing options...
Casper Posted April 20, 2014 Author Report Share Posted April 20, 2014 And everytime you swipe your card for points or cash back it costs the business money. In the end the onlympeople who makemout are the bankers.The businesses I mainly use the card at are gas stations, airlines, and hotels. I think they're making plenty of money. Quote Link to comment Share on other sites More sharing options...
smccrory Posted April 20, 2014 Report Share Posted April 20, 2014 SOMEBODY had to build out the payment networks to answer consumer's desire to pay electronically with limited liability. Quote Link to comment Share on other sites More sharing options...
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