h a l f b a k e r yLike gliding backwards through porridge.
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The point is that this card is instantly approved. My hypothetical company, for a premium, guarantees all cards with this code in it. When swiped, the transaction is automatically assumed to be clear and takes no (zero) time to phone or digitally transfer approval codes or requests. It is a risk I take
and get compensated for, especially if the client actually has insufficient funds.
We've all felt the annoyance (for some it's more like sweat trickling down the back) as the seconds tick by while credit/debit card approval takes place.
People in line smile kindly as the clerk gives an uneasy glance at the growing number of customers waiting to check out, a questioning glance, the seconds mount, the very air becomes thicker with proximity of human bodies breathing between racks insulated by gum and magazines.
An artificial association takes place that the longer it takes for card approval the less money you have in the bank. No more "Do I have enough in the bank?" "Did my hubby purchase that new bass boat without telling me?"
My credit card service charges an additional premium to instantly be approved. Swipe and go with a breezy grin. The Black Card from the link is WAY more exclusive than I'd make this. Say, purchases under 10k. Regular inconveniences that happen daily impact our lives. Just look at how quickly people eschew their dial up modems.
'Instant' is the current expectation.
The American Express Black card
http://www.snopes.c.../bank/blackcard.asp
[DrCurry, Nov 17 2005]
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err. surely it's already being done as (reasonably fast) as it can be ? if they could get it faster (as a sensible cost) they would do. |
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In any event, the delay is probably more in the phone lines than in the approval system. |
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Regardless of the reason, the delay exists. This card would be recognized as 'that card' and be instantly approved. No checking at the moment, the sale goes through and the account is charged as normal, just without the regular approval process. |
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The game is... that I would 'eat' a few sales that didn't have sufficient funds/credit to cover them, but then I get to charge the client exorbitant late charges. |
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This would be popular with the jet-set as a status symbol. |
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No delays it's ... *Supercard* |
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You might as well use cash. |
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Plus, this is baked in any location where they use one of manually operated rolling card-press things that takes an imprint of your card using carbon paper - which you then sign. |
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The checking thing on a credit card is normally just checking that you've not reported the card stolen. |
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