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Why don't they replace (and invalidate the old) cards for everyone affected instead?
by johansch 13y ago
Why don't they replace (and invalidate the old) cards for everyone affected instead?
- ProAm 13y agoI think the sheer number makes that logistical impossibility in the short term. It's in inconvenience for Chase members, but I think they are taking the right actions here to make things as easy as possible for all parties involved.
- johansch 13y agoThe right course of action would of course be a combination of a) reduced withdrawal limits b) replaced cards, ASAP
- joezydeco 13y agoUnless Chase has a new procedure in place, you don't get a new card number issued and put in the mail to you until the old one is deactivated. So there's one of two choices: contact millions of cardholders telling them their card is now dead 4 days before Christmas, or just clamp down on transactions (reducing the bank's liability) until they can get a handle on issuing new cards. A dead card means less potential merchant fees coming in to Chase and/or people switching to other card issuers.
- ben1040 13y agoI think it depends upon the bank, because some are. My bank called yesterday to tell me they were preemptively hot-carding my wife's debit card because she used it at Target. It's a small local bank, though, so it's not like Chase, who has to deal with potentially millions of customers.