Getting a credit card now a days is not as easy as it used to be due to the fraud that is now circulating around the world. In the 1980’s and 90’s you could go to your mail box and find numerous credit cards that only needed to be activated from a number on the back of the card and presto!, you have a credit card. Late in the 1990’s credit card fraud increased and the security measures where heightened and then you were only able to activate your credit card from your home telephone. At this time of writing this has now been changed as various credit card companies are now sending a mock credit card with an offer before actually sending the credit card out to someone’s home.
But does this stop fraud? Not all the time but it has helped. In the late 90’s kids in apartment complexes would steal people’s mail, activate the credit card, and charge it to the max and then move on to the next. It wasn’t until 30 days later that the victim would get a bill saying that he or she owed X amount of dollars. This horror struck many people, which is a major reason for changing some of the protocol for credit card distribution.
Even in our new century credit card security has gotten a little tighter by placing a picture of the person on the credit card to prevent fraud if the actual credit card has been stolen. The author feels that finger printing will be the next big thing if this does not produce a favorable result. But still, why so much fraud, the answer is easy; free Money, and thief’s wants something for nothing and credit cards have been the main target for over 30 years.
Another type of credit card fraud is from the owner itself. This involves where a person will buy as much as possible on a credit card and then file bankruptcy months later as they never intended on paying the bill in the first place. This was stopped in the late 1990 ‘s by the government and credit card companies working together. The solution they came up with was to not allow anyone filing bankruptcy to be able to include credit card debt unless it is over 2-3 years prior, thus putting a damper on this type of activity. Although fraud still exists in today’s credit card world. The credit card companies are lessening their chances of becoming the easy victim
If you feel you can be responsible with a credit card check out. 0 Apr Credit Card and please be responsible, both for you and me.