Tearing up the Credit Card Fraud!
This article details a blog post of a guy who deliberately made an extremely dodgy credit card application, then got the credit card.
I’d recommend reading the article for details, it goes into it a bit more with a lot of extra information on the history of credit card approvals in the US (Credit Cards for your childeren and pets. now that’s convenient!)
I’d just like to point out how sadistic and greedy the card companies are, and possibly some insight into the behaviour. Card companies will never have to handle the consiquences of fraud. They can dole out bad credit ratings that affect people’s lives forever, but they will never be stung by a bad credit card debit.
The onus of fraud prevention is actually placed on the staff member and ultimately the business with a card facility. If you accept payment, and it’s fraudulant, you’re up for the cost of that. So, the bank gives out as many cards as possilble, with no concideration to security. You then have a criminal with a card, with their own signiture on the back, and you have to pay for whatever he buys because it’s fraud.
basically, small business or the odd consumer who gets a bad credit rating from a card they never even knew they had both get shafted by lazy and greedy banks.
big business, a complete ethical vacuum since 1867!!