How credit card issuers can help curb gun violence

[JustSomeGuy]

Came across this editorial in the February edition of American Banker magazine. It was written by Duncan MacDonald, a banking attorney and retired group counsel for Citigroup's North American and European card businesses. In a nutshell, it advocates card companies tracking/monitoring trends in firearms purchases and to report to law enforcement any "potentially dangerous gun purchases". It does not elaborate on or quantify what constitutes a "potentially dangerous gun purchase".

How credit card issuers can help curb gun violence

Read More

 

[CamoDeafie]

Came across this editorial in the February edition of American Banker magazine. It was written by Duncan MacDonald, a banking attorney and retired group counsel for Citigroup's North American and European card businesses. In a nutshell, it advocates card companies tracking/monitoring trends in firearms purchases and to report to law enforcement any "potentially dangerous gun purchases". It does not elaborate on or quantify what constitutes a "potentially dangerous gun purchase".

How credit card issuers can help curb gun violence

Who would be stupid enough to buy guns off the streets from fellow gangsters/ criminals using credit cards..

 

[Kruel J]

Who would be stupid enough to buy guns off the streets from fellow gangsters/ criminals using credit cards..

LOL!

 

[DuneHopper]

Ya cause everyone knows MS13 buys guns with Visa, cause its everywhere you wanna be.

Can we pass a law, for no more stupid ideas, for the love of God..... just when you think they
can not be any more ignorant...................... TADA....... they up themselves one more time.

 

[Flymph]

You'd have to violate HIPPA to make even a scratch with that sort of action. Otherwise you'd only be harming innocent people's lives.
Sort of violates the 4th Amendment too tho, doesn't it?

 

[arakboss]

You'd have to violate HIPPA to make even a scratch with that sort of action. Otherwise you'd only be harming innocent people's lives.
Sort of violates the 4th Amendment too tho, doesn't it?

Speaking of 4th A violations, I found Alexa snooping through my drawers the other day. I'm like "Alexa WTF are you doing going through my drawers." Of course she plays all innocent and says "I don't know that one".

 

[Stomper]

Who would be stupid enough to buy guns off the streets from fellow gangsters/ criminals using credit cards..

MSM "Journalists", that's who.

 

[The Heretic]

Who would be stupid enough to buy guns off the streets from fellow gangsters/ criminals using credit cards..

Haven't read the whole article, but I think they were talking about the guys like the shooter in Vegas who bought a bunch of his "arsenal" with his credit cards.

But that is typical of us "gun nuts". I haven't bought a gun with a card in years, I generally pay cash to buy 'used' guns. But I pay for ammo/etc. with my credit cards because I get cash back. The NSA/et. al. tracks all electronic comms inside and out of the USA as much as possible, so if they wanted to (and it was legal, it isn't, and they don't want to because it would be tantamount to admitting what they do) they could quite easily notify any LEOs as to exactly what we buy day in and out.

Card issuers have been talking about doing this for a while. Citibank is one, and I hope they are paying for their policies (I cancelled my card with them, as did some others - we will probably never know how many did or what impact it had on them, if any).

As for what criminals do with credit cards. All kinds of stuff - they tried to charge a DNA test kit to my card this morning, apparently this is a thing; they order the kit, then sell it on Amazon. I have all purchases on my card texted to me and I reported it five minutes after it was made (I am getting a new card in the mail as someone obviously now has my CC info). But yeah, I doubt they use CC info for that - generally they use stolen card info for other scams.

 

[Oregonhunter5]

Gun control.
Lolololol
Let me state one smart fact.

If those that have a hard on to get rid of guns, used the same energy to reduce the federal debt, think how much better this country would be.
Think about it.
Collecting guns isn't a fade.

It's a sistmatic approach to overthrow this god blessed country.

Very creepy how they focus on so many ways to take guns.

 

[JustSomeGuy]

Haven't read the whole article, but I think they were talking about the guys like the shooter in Vegas who bought a bunch of his "arsenal" with his credit cards.

But that is typical of us "gun nuts". I haven't bought a gun with a card in years, I generally pay cash to buy 'used' guns. But I pay for ammo/etc. with my credit cards because I get cash back. The NSA/et. al. tracks all electronic comms inside and out of the USA as much as possible, so if they wanted to (and it was legal, it isn't, and they don't want to because it would be tantamount to admitting what they do) they could quite easily notify any LEOs as to exactly what we buy day in and out.

Card issuers have been talking about doing this for a while. Citibank is one, and I hope they are paying for their policies (I cancelled my card with them, as did some others - we will probably never know how many did or what impact it had on them, if any).

As for what criminals do with credit cards. All kinds of stuff - they tried to charge a DNA test kit to my card this morning, apparently this is a thing; they order the kit, then sell it on Amazon. I have all purchases on my card texted to me and I reported it five minutes after it was made (I am getting a new card in the mail as someone obviously now has my CC info). But yeah, I doubt they use CC info for that - generally they use stolen card info for other scams.

I'm with you, only to a little more of an extreme. I don't use credit cards for anything. The last credit card account I had was canceled probably 20 years ago because I never used it. I don't buy things over the internet... if i need something that isn't stocked locally, I'll pay a local business to order it for me. Some say it costs more that way, but does it really?

 

[Flymph]

I'm with you, only to a little more of an extreme. I don't use credit cards for anything. The last credit card account I had was canceled probably 20 years ago because I never used it. I don't buy things over the internet... if i need something that isn't stocked locally, I'll pay a local business to order it for me. Some say it costs more that way, but does it really?

Yeah, it does... but I'm not going to tell you to stop.
If you have a checking account, you should have a debit card, which can be used like a credit card without actually having to have a credit card.

 

[JustSomeGuy]

Yeah, it does... but I'm not going to tell you to stop.
If you have a checking account, you should have a debit card, which can be used like a credit card without actually having to have a credit card.

They issued a debit card but it got dropped in the shredder when I got home. As far as it costing more:
Paying cash for everything costs more in dollars, but being debt free and not having to worry about it is priceless.

 

[Flymph]

You can't accrue debt from a debit card. Think of it more like a check you don't have to sign and gets instant approval.

 

[JustSomeGuy]

We're ranging a little off topic, but since I'm the OP I'll roll with it. Using a debit card leaves an electronic record, which does relate to the original post. I'm an old guy, do things "old school" and figure what I do with my money is no one's business but my own.

 

[The Heretic]

They issued a debit card but it got dropped in the shredder when I got home. As far as it costing more:
Paying cash for everything costs more in dollars, but being debt free and not having to worry about it is priceless.

The only debt I have is my mortgage.

I pay off my credit card every month. I also get 1-5% on most purchases. I get fraud protection and I get resolution in my favor if I don't get something I ordered or I get the wrong thing/etc.

I also have credit for emergencies - although I have not had one yet (in the past ten years) that I couldn't have paid for with my bank account.

The advantage of paying with a credit card over a debit card is the aforementioned protection, plus there are limits on how much someone can charge to my CC, whereas with a debit card or a check or your checking account info they can empty your account.

As for cost of things online vs. buying local - when it comes to ammo, there is no comparison - always cheaper online and it is delivered to my doorstep. My time is worth money - going to a store, having them order ammo (if they even will), shipping and taking their cut - no way.

Guns? Sure.

Except I have just been buying those used from here - eventually someone has to pay for their kids braces, or has to repair their car, or some other "emergency" they didn't plan for and they turn to selling their guns that they haven't shot in a year or so - and I get a good deal - we both win - I am like a pawnshop for certain guns (especially SIGs); ready money, and I probably give them a better deal than a pawn shop would. For guns, I pay cash - not because it hides anything from the gov., it doesn't, but because that is what is expected - no one is going to take a check or CC for a used private party sale.

 

[The Heretic]

Try booking a room at a hotel without a CC. Or a rental car. Or an airline ticket. Some places won't take cash anymore because of the security issues - a check, maybe.

 

[JustSomeGuy]

Try booking a room at a hotel without a CC. Or a rental car. Or an airline ticket. Some places won't take cash anymore because of the security issues - a check, maybe.

I own a ranch, so I don't travel. Haven't slept in any bed other than my own for well over 20 years, and I'm quite happy with that.

 

[The Heretic]

I own a ranch, so I don't travel. Haven't slept in any bed other than my own for well over 20 years, and I'm quite happy with that.

I usually don't travel much either - yet. Last time I did it was for a funeral. Last time I flew was about 15 years ago. But in 18-24 months I am retiring and I do want to travel and CCs just make that a lot easier.

YMMV

 

[JustSomeGuy]

I usually don't travel much either - yet. Last time I did it was for a funeral. Last time I flew was about 15 years ago. But in 18-24 months I am retiring and I do want to travel and CCs just make that a lot easier.

YMMV

I can see how it would. I don't have any axe to grind with anyone that does use them. For me, It's just not necessary and the convenience doesn't justify the downsides.

 

[Flymph]

We're ranging a little off topic, but since I'm the OP I'll roll with it. Using a debit card leaves an electronic record, which does relate to the original post. I'm an old guy, do things "old school" and figure what I do with my money is no one's business but my own.

Well, ya got me there! I like to pay cash too, but that has more to do with living within my means than it does an electronic record.
I figure I'm too insignificant for anyone to care...

Wish I had a ranch and had that option, sounds like a good life.