Which is why I suggested having a separate, low-limit card just for potentially risky transactions.kcowan wrote:The main aggravation is informing suppliers who charge to the card about the new number.
Someone (IIRC PC Insurance) sent me something like that with a renewal. It was a sheet on which I was supposed to record all my credit card numbers and related information, then fax/mail it back to them. Then if my wallet got lost they'd look after contacting the entries on my list. This was a free service but I balked at the idea of sending such information to anyone, however well-intentioned they might be. (How their lawyers allowed them to enter into this potential landmine field of liability is also a mystery.)brucecohen wrote:When I went through that, it occurred to me that it's ripe for a web-based subscription service. You'd pay $10 once or maybe $1-$2/year and register your payees. If the card is cancelled, you contact the service and the service contacts all vendors.
Part of the problem with such a service is that the party who offers it has to be able to prove their legitimacy and their authorization to act on your behalf.
A related problem arises when you get a new credit card to replace an expired one. The CC number is the same but the expiry date changes. Some CC companies will not process recurring charges, e.g. monthly utility bill that's charged to their card or a gasoline key fob) unless the expiry date they get from the merchant is unexpired. So you have to remember the names of everyone you deal with in this way and contact them to provide your new expiry date. Surely there must be a better way for the industry, both merchants and CC companies, to handle this.