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"Gift" Credit Cards.

15 Nov 2006  |  Tags:

So companies like Visa and American Express have these gift cards that work like regular credit cards… but they’re tied to nobody. So what’s the problem? Well, all someone needs is your card number and security code to steal it… and there’s nothing you can do about it!

The procedure to retrieve a lost or stolen card is simply, you call, you give them the number, code, and your address, and they send you a new card with a new number. The old card and number no longer work, and the money is transferred to the new card, which is sent to whoever called it in. There’s no reversal procedure! (since the original and new card aren’t tied to anybody)

Just thought I’d bring it up.

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