New Credit Card Technology Can’t Come Soon Enough

This Nov. 18, 2009 file photo shows credit and bank cards with electronic chips in Gelsenkirchen, Germany. In the wake of recent high-profile data breaches, including this week’s revelation that hackers stole consumer data from eBay’s computer systems, Visa and MasterCard are renewing a push to speed the adoption of microchips into U.S. credit and debit cards. (AP Photo/Martin Meissner, File)
This Nov. 18, 2009 file photo shows credit and bank cards with electronic chips in Gelsenkirchen, Germany. (AP Photo/Martin Meissner, File)


(CBS News) – Last week one of our credit cards was compromised. Again. Oh, and we learned that thieves stole more than $100 from one of our prepaid cards.

A new credit card is on its way, and after I pushed a bit, the money has been restored to the prepaid card. Federal laws and issuer liability waivers do, after all, protect us when fraud occurs.

But I’m getting thoroughly sick of having credit card accounts frozen without warning. I’m tired of spending time on the phone with fraud reps, repeating the account number and the last four digits of my Social Security number over and over and over. I’m annoyed about waiting days to have new cards sent out.

I’ve lost count of how many times we’ve had to go through this rigmorale in recent years. I do everything it’s reasonably possible to do to avoid fraud, and still, it happens.


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