[NA] Credit cards [NA]

[Let'sgoflying!]

Thanks oh generous brain trust for the info on the Prius, f.i.l. is digesting comments as we speak.

Now. What about credit cards?
I had always thought that a cardholder's liability in the event of a stolen or lost card was minimal.
Now I am getting a notice in the mail, "buy this wonderful service for 65$ to protect yourself from liability in the event of a stolen or lost card." Amex "Peace of Mind" "Credit Card Registry" offers to protect all my cards.

 

[ScottM]

PT Barnum is behind that promotion.

 

[JRitt]

Most credit cards have a maximum that you are liable for of ~$50 AFTER you report the card lost or stolen. What this means is that if its loast or stolen and you don't report it for a week you could be liable for the purchases during that week

 

[mikea]

1) Make a list of all of your credit card account numbers and the customer support phone numbers to call. Put the list where you can find it.
2) Put the wunnerful offer from Amex in the shredder.
3) Spend the $65 on a half hour of flying.

 

[markb5900]

Mike is correct. That is all AMEX is going to do for you. And if your wallet is ever lost or stolen they will make the phone calls for you. That is what you get for the $65.00

Mark B

 

[Everskyward]

Now I am getting a notice in the mail, "buy this wonderful service for 65$ to protect yourself from liability in the event of a stolen or lost card." Amex "Peace of Mind" "Credit Card Registry" offers to protect all my cards.

I recently had my wallet stolen with all my credit cards (three personal and one business) and a debit card, among other things. It was a fairly easy task to call the providers myself and get the cards canceled. Not one penny was charged to any of them. The cash on the other hand was gone, gone, gone.

Of course every institution I called tried to sell me this service or a similar one tracking my credit reports. Finally I got tired of the scare tactics and told all of them I had bought the service elsewhere even though I haven't.

 

[JohnR]

Should I buy that extended warranty on the $50 microwave oven I have my eye on?

All this stuff is like buying health insurance for a hamster.

 

[cwyckham]

I got hit by a smart and well organized gang of credit card theives at a trailhead in the Canadian rockies. They knew I'd be gone for at least a few hours because it was at a popular hiking area. They broke into my car (without doing any damage), found my wallet under the carpet in the trunk, took both credit cards but left the cash and replaced everything exactly as I'd left it. They then went to Calgary and bought over $1000 in alcohol (which is easily fenced, making it a liquid asset ) at several different stores over a two hour period. After that time, they suddenly stopped using the card as the probability of my discovering my loss was increasing as time went on.

Due to their professionalism, I didn't notice until I went to pay for dinner that night. I was liable for $50 only.

Chris

 

[L10MAN]

If your wallet is stolen and you also lose cash, check with your homeowners insurance. Some of them do cover loss of cash. They covered the cash I lost pluse my watch when our car was broken into. It at least worth a call.
Ron

 

[gkainz]

My cc for online purchases was compromised a while back. Less than 12 hours after the first purchase, the cc company called me to check up on "suspicious charges". They cancelled the card, issued a new card, and I wasn't liable for anything. A few days later they called and tried to sell me a fraud protection package. I told 'em their free service was pretty darn satisfactory! No thanks!