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Privacy – Forget Your Credit Card

privacy.com

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Re: Privacy – Forget Your Credit Card

#111

Post by drglitch »

Both citi and bankofamerica (and I believe so, but didn't personally use, Wells Fargo) offered this service for free on their CC accounts in mid to late 2000s.

You could set limits per number, have it lock to just single merchant, etc. pretty nifty when paying some wacky merchant online.

All have since shuttered the service because pretty much every CC comes with purchase protection that you can invoke to charge the vendor back in case of something going wrong.

Virtual CCs provide very limited utility in my mind - because the place you're likely to have your CC swiped - a bar or a cab - are still going to use only the legacy plastic version.

Re: Privacy – Forget Your Credit Card

#112

Post by tempestn »

boling11 wrote: post #8
mtgx wrote: post #3

> STEP TWO When you check out on any website, the Privacy icon will appear in the card form. Click it to create a new card, and auto-fill the card form. Use any name and billing address you like. > STEP THREE After the card is charged, we withdraw the money from your chosen funding account, similar to a debit card. Not sure I get this. Do you have to fund an account on Privacy.com? So it's like a Paypal where you gen…

Yep that's right, you'll need an account with Privacy.com, and you can use any name or billing address when you spend using a Privacy Visa Card. Touche, thanks for bringing that up. Updating the language.

According to your other answers and the website, they don't need to "fund an account on privacy.com". Rather, they connect it to an existing bank account.

Re: Privacy – Forget Your Credit Card

#113

Post by alogray »

soneca wrote: post #89

Is that something that new? My bank (Itaú, in Brazil) offers this option for some time now. Here(in portuguese): https://www.itau.com.br/cartoes/cartao-virtual/ Or am I missing something? Edit: They launched it in 2002: http://exame2.com.br/mobile/tecnologia/noticias/itau-agora-t... Edit2: Sounds new in the US. This is not supposed to be a bragging/snarky comment. Just genuinely surprised as innovation usually come t…

Not really - Paypal was doing it via their browser toolbar ages ago, back when toolbars were still a thing. They stopped offering this functionality back in 2009, I think. That said, it's not particularly common at US banks despite being a horrifically useful feature (Bank of America has it, but I'm not aware of anyone else).

I'm excited that I can hop on and use Privacy but it seems like it's more of a feature than a product.

Re: Privacy – Forget Your Credit Card

#114

Post by astazangasta »

samstave wrote: post #92
cubano wrote: post #85

Earlier quoted context omitted.

Don't you see that rewards tracking is actually the antithesis of this service? That's what those "free" rewards really are...getting more detailed information on your spending patterns and profile so they can resell that info to interested parties.

Never thought of that - please expound...

This is for supermarkets, but the same general principles apply:

http://www.theguardian.com/money/2013/jun/08/supermarkets-ge...

>If you have a loyalty card or shop online, the supermarkets will build up a demographic profile of you, and collect data about how loyal you are, what you buy and how much you spend, says Guy Montague-Jones of The Grocer.

This is how retail in America works now: collect data, adjust to fit.

Re: Privacy – Forget Your Credit Card

#115

Post by Shivetya »

soneca wrote: post #89

Is that something that new? My bank (Itaú, in Brazil) offers this option for some time now. Here(in portuguese): https://www.itau.com.br/cartoes/cartao-virtual/ Or am I missing something? Edit: They launched it in 2002: http://exame2.com.br/mobile/tecnologia/noticias/itau-agora-t... Edit2: Sounds new in the US. This is not supposed to be a bragging/snarky comment. Just genuinely surprised as innovation usually come t…

isn't this similar to ShopSafe by Bank of America, Citi has something too.

Re: Privacy – Forget Your Credit Card

#116

Post by zippergz »

drglitch wrote: post #111

Both citi and bankofamerica (and I believe so, but didn't personally use, Wells Fargo) offered this service for free on their CC accounts in mid to late 2000s. You could set limits per number, have it lock to just single merchant, etc. pretty nifty when paying some wacky merchant online. All have since shuttered the service because pretty much every CC comes with purchase protection that you can invoke to charge the…

BofA still offers it, but I don't use it because it requires Flash which I don't have installed in my browser. I just checked a few weeks ago, though, and it's still there.

Re: Privacy – Forget Your Credit Card

#118

Post by mkhalil »

I'm in love. Seriously, been waiting for this for soooo long. And the fact that the website supports two factor auth + is SUPER easy to use makes this a double whammy!!! :)

I've been a customer for about 5 minutes, have used it twice, and am already going to recommend it.

edit: I'm quite aware that this has been possible, but both banks/credit cards that I have make me jump through tons of ugly UI and clicks to make it happen.

Re: Privacy – Forget Your Credit Card

#119

Post by drglitch »

Quick question to founder lurking here - if you're advertising yourself as a credit card and yet you do not extend credit (and use bank account as funding source) aren't you misadvetising? If it's just a virtual debit card, you are likely providing far less protection to consumer than a credit card would.

Re: Privacy – Forget Your Credit Card

#120

Post by matt_wulfeck »

drglitch wrote: post #111

Both citi and bankofamerica (and I believe so, but didn't personally use, Wells Fargo) offered this service for free on their CC accounts in mid to late 2000s. You could set limits per number, have it lock to just single merchant, etc. pretty nifty when paying some wacky merchant online. All have since shuttered the service because pretty much every CC comes with purchase protection that you can invoke to charge the…

I think it's incredibly useful:

1. Track down and audit exactly which company stole/leaked your CC

2. No need to update ALL payment methods any time your card is used fraudulently.

3. Set limits and purchases and save yourselves the headache of trying to charge back if you get some vendor who tacks on unexpected fees.

Just to name a few.

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