I'm bearish on cryptocurrencies as lacking legitimate use cases, but metered services and honest subscriptions appears to be a pretty appealing one when card networks have policies like these. Volatility is a big issue, but using cryptocurrency for subscriptions could create more stable longer term demand characteristics where the subscription fee gets indexed to a cost at the time of purchase, with the small matter of who influences that index as it becomes a defacto peg. Card network policies just aren't something I think can be repaired.
Merchants can keep charging your card even if it's cancelled/expired
51–58 of 58 posts
Re: Merchants can keep charging your card even if it's cancelled/expired
#52I've always suspected so. Many times I have had a card expire and be replaced, and recurring payments under the old expiration dates continue to charged to the account. I have at least one such payment that I probably have not updated payment information in over 10 years, so that expiration date is long expired. At one time I suspected in such cases that the bank automatically provided the payee with the new informat…
My toll tag is linked to an expired card and I've been curious how long this thing will keep going. I think I still have a couple years based on your experience
I guess it depends on your bank, and who the toll tag issuer is.
I wrote earlier about a long standing account I had never updated, and just realized it may just be cellular phone with Sprint. I don't believe have never updated that info since I started service with them in 2008 - for a long while I think their site was a PITA to use so I just never bothered.
Re: Merchants can keep charging your card even if it's cancelled/expired
#53I've found this more useful than harmful -- like, if I had to get a new Amex because of someone's data leak, I didn't have to go through and update literally EVERY SINGLE AUTOBILL bc Amex was smart enough to let (e.g.) my cell bill or my cable bill continue to process on the old number while blocking new charges on it. But it still sucks that it's difficult to block charges like this from the consumer/credit-card sid…
Then make it optional or give fine-grained control over it. When you get a new card number, you should get a list of merchants that have recurring payments on the old one, and get to choose yes or no to transfer each of them.
It'd be nice, but almost nobody does that. Wish they would, obviously, but there's apparently no market call for it.
There are other considerations in picking a card, though, and I'm generally happy with the overall experience with Amex.
Re: Merchants can keep charging your card even if it's cancelled/expired
#54I've found this more useful than harmful -- like, if I had to get a new Amex because of someone's data leak, I didn't have to go through and update literally EVERY SINGLE AUTOBILL bc Amex was smart enough to let (e.g.) my cell bill or my cable bill continue to process on the old number while blocking new charges on it. But it still sucks that it's difficult to block charges like this from the consumer/credit-card sid…
Personally I having to update all of the recurring payments very useful; I was supprised by the amount of shit I had forgotten I was paying for every month. e.g. a VPS that I hadn't had anything running on for years, Apple music long after switching to Spotify.
This is one reason I enjoy the fact that I really only use one card. It's dead simple to review one bill every month.
99% of all my economic activity (excluding my mortgage) goes through my Amex. I have a MasterCard, as a backup, but I almost never use it for anything meaningful (it actually lives in my cycling wallet, so I have a card there Just In Case).
My actual bank account sees very, very, very few transactions by comparison: I get paid there, I transfer out to savings, I pay the mortgage, I pay any tiny charges on the MasterCard, and I pay the Amex bill, and that's about it.
This makes it VERY easy to keep track of recurring charges.
Re: Merchants can keep charging your card even if it's cancelled/expired
#55I'm surprised at the number of people here who aren't reading or otherwise paying attention to anything related to credit cards. This isn't some new thing, and it's well known. I can only imagine the people posting here are dealing with credit cards for the first time. Listen, this is your credit, take some responsibility and spend some time to understand what you are signing up for and agreeing to. These aren't hidd…
I think quite a few people monitor their accounts, but what comes as a surprise is that they can get charged after expiration.
I have checked my cardholder agreement with Visa, and can find nothing about this "convenience" of continuing to allow a recurring charge after a card has expired. Although, I will say I'm not ungrateful it's there as changing a whole bunch of such charges is not something I would look forward to.
After noticing banks/card issuers have done this, I have treated the expiration date as affecting new purchases only.
Re: Merchants can keep charging your card even if it's cancelled/expired
#56Good to hear my distrust of credit card companies hasn't been in vain.
I've made all even remotely recurring sounding payments via paypal just for the ease of cancelling.
I really don't want to have to contact someone to cancel a payment when I can just do it myself.
Re: Merchants can keep charging your card even if it's cancelled/expired
#57I've been told this by credit card customer support. In several instances over the last 3-4 years I've disputed charges from companies I have no relationship with, and as part of the dispute process been told I need to reach out to these companies to prevent future recurring charges. Calling a company I've never heard of to try to get them to stop charging me sounds likely to lead to further problems rather than reso…
What bank is this? I'm using Privacy.com to do this with debit cards, but I've never heard of anything that lets you do it for ACH.
hey - One employee and engineer here. happy to answer questions if anyone has them!
Re: Merchants can keep charging your card even if it's cancelled/expired
#58Earlier quoted context omitted.
What bank is this? I'm using Privacy.com to do this with debit cards, but I've never heard of anything that lets you do it for ACH.
As another reply surmised, it is OneFinance. Been with them for around 3 months as my primary bank after Simple got acquired by BBVA which got acquired by PNC. I've been very happy with them. If you decide to sign up, check to see if you have a friend that has an account, you can both get $50 on your first direct deposit. Slide into my DMs if you don't have any friends. :-D
I’ll take a referral and thanks for letting me know which company it was! (my email is in profile)