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Does it matter? I really feel like I am missing some key knowledge about why people care that their credit card number might be stolen—especially when compared
by csnover 6y ago
Does it matter? I really feel like I am missing some key knowledge about why people care that their credit card number might be stolen—especially when compared to much more immutable private information like your email address, home address, or phone number.
Cardholder agreements for credit cards typically say that you aren’t liable for any fraudulent charges so long as you report them within a couple of billing cycles. I once had my credit card number stolen, called the bank to report it, and they reversed the charge and sent me a new card via FedEx Express. The whole process took less than ten minutes.
What don’t I know? Is it just that when companies emphasise “no credit card information was stolen” in their data breach announcements that this gives a false impression that this data is more important to keep secret, or what?
- ornornor 6y agoI think part of it is successful brainwashing from banks to make people believe credit card number theft === identity theft === the individuals responsibility, not the banks. Otoh, it can be pretty time consuming and annoying to charge back transactions and get a new card. In Switzerland for instance I have to print out a multi page form, fill it in, send it back by physical mail (yup) then my bank follows up after a few weeks a a few more phone calls. And I have to pay a fee to get the card replaced. So yeah the transactions aren’t on me but the hassle and fees are... This was much more straightforward in North America though.
- thetanil 6y agoThere are a lot of people who don't care at all about their personal info, and the only negative effect of an identity theft is having to call the bank and changing your CC# (my mother for example who has had her ID stolen multiple times because she is careless with her personal info)