Thursday, 2 July 2009

NO to Waving your Credit card Rights away

I am well versed with a wave card. Having experienced its convenience as my Train boarding pass in Hong Kong & Singapore, I like it.

Just put the card in my handbag & wave the entire bag over the reader & you are through - unless it's my backpack - which is another story. All this without taking out the pesky thing & risk losing it. So cool mah!

But that's for a Train Ride, and it's prepaid to a certain value by me.

I won't lose more money than what is prepaid if someone filches my bag. Like most sane people, I wouldn't top that card up to any amount more than I can risk losing it.

The other day I realized that some banks including CIMB & Maybank has introduced the Wave Card - same concept as the Train card.

For purchases under RM150, you can just pay for your purchases by waving the card onto a reader.

Makes your purchase faster - for the cashier, you (if you are in a hurry) & the people lining up behind you in an equal hurry.

Makes you spend more. It takes away your psychological awareness of having to physically sign & acknowledge you are (AGAIN!) spending money. Just a little money....at a time. So psychologically speaking, we lose count more if we waved seamlessly rather than acknowledge with our own signature our dirty little spending habits.

As for Me, I ABSOLUTElY REJECT this concept & I strongly advise you too not to let anyone sell you this story.

In fact if a cashier waved your card, IMMEDIATELY demand for a cancellation & demand for the regular credit card receipt to sign.

Why? Here's some Important reasons why

1. The holder of the credit card must wave the card themselves & NOT the cashier. But this is not always the case; as I experienced unknowingly. The cashier waved it for me.

Now why should you wave your own card? Ask yourself. Who's the holder of the card. You or the cashier?

When (s)he waves your card, you get a receipt. Ok. But if you are not looking carefully, she can wave it a few times, & hand you only 1 receipt. Is there a beep? Didn't hear it amidst all that noise generated in a store? Too bad.

At any given time, when I am paying, I am in my usual hurry (Gawd knows why but I always am!) & we hardly note in our consciousness if we have signed ... or not? Or maybe you did?

2. Should you not be acknowledging your own Debt or any credit extended to you by priviledge of using the Bank's Credit Card?

Consumers should know the difference between a prepaid & a Credit & Prepaid card

This is why when you hand over a credit card, as the holder of the card, you must & have to acknowledge a debt or credit has been transacted in your name.

The credit card is NOT a prepayment you made. Like my train card story. In Europe you would need to key in your PIN when they wave your card. This means that if you have given someone your card to use, then you have also given them your PIN ie permission to spend.

3. Who's really using your card?
At least in the good old pre-wave days, somebody had to forge yr signature, or work a little harder when they want to use your card without permission.

With the wave, it has become much more convenient for a thief to run up a coupla purchases before you can deactivate it. No need to forge a signature mah!

So I want ALL of you to take this blog & circulate it.
The more people hear about it,the more the buck passes from the consumers back to the banks - as it should be.
After all, aren't they the specialists at what they do best & aren't we the ones who will get more & more sucked into a credit pitfall?

14 comments:

Maverick SM said...

I do agree with your pointers. For convenience we may opt to take risks more than our body could pay. I think we should be careful with our credit cards and monitor it when it is swiped and printed. Somehow, to speed up we tend to accept higher risks. That's not wise.

Anonymous said...

'wave & go' or 'smart wave' !!
btw, WHAT's 'gawd' ??????

GobloKing said...

gawd is another word for GOD....just yankyrised!

And Mav...plse advise everyone to NOT accept the wave. It's simply NOT acceptable!

出張ホスト said...

女性会員様増加につき、当サイトの出張ホストが不足中です。女性の自宅やホテルに出向き、欲望を満たすお手伝いをしてくれる男性アルバイトをただいま募集していますので、興味のある方はTOPページから無料登録をお願いいたします

救援部 said...

オ○ニーライフのお手伝い、救援部でHな見せたがり女性からエロ写メ、ムービーをゲットしよう!近所の女の子なら実際に合ってHな事ができちゃうかも!?夏で開放的になっている女の子と遊んじゃおう

倶楽部 said...

簡単にお小遣い稼ぎをしたい方必見、当サイト逆¥倶楽部では無料登録して女性の性の欲求に応えるだけのアルバイトです。初心者でもすぐに高収入の逆¥交際に興味をもたれた方はTOPページまでどうぞ。

チェッカー said...

SM度チェッカーで隠された性癖をチェック!外見では分からない男女のSM指数をチェックして相性のいい相手を見つけ、SMプレイしてみよう!合コンや飲み会で盛り上がること間違いなしのおもしろツールをみんなとやってみよう

熟女サークル said...

性欲のピークを迎えたセレブ熟女たちは、お金で男性を買うことが多いようです。当、熟女サークルでは全国各地からお金持ちのセレブたちが集まっています。女性から男性への報酬は、 最低15万円からとなっております。興味のある方は一度当サイト案内をご覧ください

グリー said...

ネットで恋人探しなら、グリーをおすすめします。ここからあなたの理想の恋愛関係がはじまります。純粋な出会いから、割り切ったエッチな出会いまで何でもあります。ミクシーから女の子が大量流入中!ココだけの話、今が狙い目です

セレブ said...

セレブラブでは心とカラダに癒しを求めるセレブ女性と会って頂ける男性を募集しています。セレブ女性が集まる当サイトではリッチな彼女たちからの謝礼を保証、安心して男性はお金、女性は体の欲求を満たしていただけます。興味がある方は当サイトトップページからぜひどうぞ

プロフ said...

携帯アドのせておきました。恥ずかしい写真とか乗せてるけど、許してください。ネット友達探してるのでよかったら連絡ください。for-a-sweetheart@docomo.ne.jp

ゲイ said...

ゲイの数が飛躍的に増えている現代、彼らの出逢いの場は雑誌やハッテン場からネットに移り変わってきています。当サイトは日本最大のゲイ男性の交流の場を目指して作られました。おかげさまで会員数も右肩上がりに伸びています。ゲイの方や興味のある方はぜひ当サイトをご覧ください。

公開プロフ said...

最近いい事ない人集合!話聞いて欲しいって時ないですか?やけに寂しいんですよね。私も聞くので私のも聞いてください。メアド乗せておくのでメールから始めましょうfull-of-hope@docomo.ne.jp

高額アルバイト said...

性欲を持て余し、欲求不満になっている女性を金銭の対価を得て、癒して差し上げるお仕事です。参加にあたり用紙、学歴等は一切問いません。高額アルバイトに興味のある方はぜひどうぞ