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Thursday, November 15, 2012



Yes definitely, security IS a strong consideration.

Certainly, it should be for credit card companies since, if they are going to be ethical, they are responsible so they should bear the financial losses that may follow. Agreed, with the profit they make, it is still a drop in the ocean, but there is additional longer term damage to some cards and I am speaking from personal experience.

After a solid reflection, I have discarded most of my credit cards save two. These are what I use and I have no need for more. There are many advantages to this decision:
First, I have studied (and tested) the quality of the customer service and of the security level of my batch of cards. From that test, I identified the best one and kept it. Interestingly, it was also the one with the highest limit, (a lucky break).
The second card is tied up to my bank and it is a safety net in case of need.
Second, I consolidated my primary card security by adding some security features of my own. This was done in collaboration with and thanks to the excellent customer service of this card and their pro-active security level.
Nothing is foolproof of course, but I feel quite safe using it at this point.
Here are some advantages of my consolidation: By using always the same card, it now has a fairly strong format of my shopping habits and comfort zone. Anything out of that framework will often generate a call to me for verification. In return, if I am going way out of normalcy with a transaction, i.e. out of country, I will notify my card. I consider that a basic courtesy.

One last but not so small detail; by condensing my expenses to one trusted card, I have simplified my accounting and increased my bonus tremendously. I can now go home to visit virtually free and business class too!
As for the other rejected cards, if my practice catches on, it may force some of them to rethink the quality of their service.
I consider that a win-win situation.

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