No. of Recommendations: 3

You wrote, And before that the most the companies could do was send out lists of stolen or delinquent cards. They used to have these long lists, and if you offered your card the merchant would look it up in a booklet to see if the card was still valid.

I remember that! Actually I remember seeing the cashier compare the card number against photocopied lists on or next to the register.

Pretty ugly scheme. How often could you update it? The thief might get away with the fraud for weeks before the card got flagged. Of course credit wasn't as ubiquitous as it is today, so there were things you just couldn't purchase with it. That might have reduced it as a target for fraud somewhat.

- Joel
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