Saturday, May 24, 2008

Expired Credit Cards

What somebody would do with expired credit cards...

Scene 1:
Friend goes to the local gym and places his belongings in the locker. After the workout and a shower, comes out, sees the locker open and thinks to himself, "Funny..I thought I locked the locker...hmmm", dresses and just flips the wallet to make sure all is in check. Everything looks ok, all cards in its place.

A few weeks later, his credit card bill comes. A whooping bill of P140k! Calls up the credit card company and starts yelling at them saying that he did not make the transactions. Customer care personnel verified that there is no mistake in the system and asks if his card had been stolen. "No" he says. Takes out his wallet and pulls out his card. Yup! You guessed it...a switch was made!!!

Another similar (same type -- master/visa from the same bank) expired looking card was placed in the wallet. The thief broke into his locker at the gym and switched cards.

Verdict? Credit card issuer says since he did not report the card missing earlier, he would have to still pay the amount owed to them. Why were there no calls to verify the amount swiped? Small amounts rarely trigger a 'warning bell' in credit card companies. It just so happens that the small amounts amounted to big ones!


Scene 2:
My dad at a local restaurant paid for his meal with his credit card. The bill came, he signed it and the waitress folds the receipt and passes the credit card along. Usually, he would just take it and place it in his wallet or pocket. Funny enough, he actually just took a look at the card and lo and behold ... wrong expired card of
another person!

He called the waitress and she looked perplexed. She took it back, apologized and hurried back to the counter under the watchful eye of my dad. All the waitress did whilst walking to the counter was she waved the wrong expired card to the counter cashier and the counter cashier immediately looked down and took out the real card. No exchange of words... nothing.... She took it and came back to my dad with apologies.

Verdict: Make sure the credit cards in your wallet is yours! Check the name on the card every time you sign for something and the card is taken away for even a short period of time. I believe many of us would just take back our credit card without even looking at it, thinking that it has to be ours. For your own sake,

DEVELOP THE HABIT TO CHECK YOUR CREDIT CARD EACH TIME YOU TAKE IT BACK.

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