- Centurion Member
- Posts: 132
- Joined: Mon Jul 18, 2011 10:08 pm
- Location: Houston
Here is where I think he is going:
He wants to set an alert for any activity on his credit cards. Does not matter how small the transaction he would like to receive some alert (email, text, etc) that a transaction was authorized.
He has this ability on another card (Paypal Debit ?). He has used this type of notification to find faulty transactions in the past on this other card.
Currently the smallest transaction alert you can set on Discovery Card (More in my case not sure about others) is $300. In other words transactions for $299 or lower will not generate an alert.
While I see how this could be useful I am not sure it is required on major credit cards. Most cards will give you 100% immunity from fraudulent charges. All you have to do is call up the company dispute a charge. They will take it from there. If you confirm that it is unauthorized activity they will ship you a new card in a few days (or overnight upon request).
In the past you had to wait for the bill to arrive. Remember back through all month's worth of charges and look through the bill to make sure they were for the right amount. This system much more difficult (in my opinion). Given that most cards come with online access it is easy to find bogus charges. These days I spend no more than a 30 (usually a lot less) min a week usually Sat or Sun morning going over my charges for my cards online. I only have 5 cards (4 personal, 1 Corp) so hitting all of them to check balances and charges is not that hard (yes I check the ones that have been in the safe for years also).
Again I am not opposed to the idea of having it available to people that want it. It would mean a huge amount of alerts that I would have to organize every month. I would never want an alert for every charge. That being said I usually set up alerts for charges that are 25% to 50% of my credit line. The "%" depends on my usage of the card, example; $100 on my "gas card" in 1 transaction should cause me to be alerted as my car usually only takes about $60 to fill.