Had it happen with my Cabela's card last year. They caught it right away and cancelled my card. Sent me a new one and all was good - somebody had been buying computer stuff in Texas after having tried the whole $1 charge to see if the # worked.
Why the hell can't the CC companies set their security systems to alert on a charge under 2.00? I don't know many people that charge things under five bucks! They could stop the card transactions until they could confirm if the charge was legit or not..
this sounds great in theory......in reality in 6 months the CC company would have very few customers cause the customers got sick of always being on the phone to get their account opened back up....
i can easily figure out a system that is near 100% secure......however doing that AND keeping customer statisfaction high is near on impossible cause the first time someone goes to use their card to buy meals to show off to a bunch of ppl and i shut down their card cause of a $1.50 suspicious card i loose a customer even if i was right about the suspicious charge....
lot of what you guys want make sense on paper but implemented in the real world they crash and burn quick cause quite frankly ppl would rather have a bank that makes it right and keeps their card open than one thats more secure and always shutting down the account at the slightest hint of something being wrong........
