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New Merchant Code Approved for Card Purchases of Guns, Ammunition

Area52 said:
Though as it was stated that the Credit Card is the safest method of a sale, but only in terms of disputing fraudulent charges, or not receiving goods, defective and return items.

I visited my online retailer to explore purchase method options and found that they offer prepaid Gift Cards. One can opt to buy any denomination of these GC’s with a credit card and as for items... they won’t show up on the monthly CC statement.
Essentially a prepaid gift card is cash sale and since these GC’s can be sent digitally, the redeemable funds are instantly available for use.

Worth considering?
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Great idea!
 
Brawny said:
I hate to break this to you, but >90% of the money in our country is digital and exists only on computerized ledgers. And while I call it digital, going back to the founding of our country, a lot of the money only existed on bank ledgers, albeit on written ledgers and at a lower ratio than it is today.
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I know how banking works now and that’s not what I meant. In the future there will be no paper bills or metal coins, there will be accounts and you will pay for things with a card or implanted chip and will get paid by direct deposit or debit card,
“already being done”
50-100 years from now banking and paying for everything will be completely different.
 
Area52 said:
Though as it was stated that the Credit Card is the safest method of a sale, but only in terms of disputing fraudulent charges, or not receiving goods, defective and return items.

I visited my online retailer to explore purchase method options and found that they offer prepaid Gift Cards. One can opt to buy any denomination of these GC’s with a credit card and as for items... they won’t show up on the monthly CC statement.
Essentially a prepaid gift card is cash sale and since these GC’s can be sent digitally, the redeemable funds are instantly available for use.

Worth considering?
Click to expand...
Works if it's from a sporting good store, but if it's from a "Gun store" that gift card will likely still have the 4 digit code.
 
So what information will the CC company collect. So GS will be assigned a code, and the VISA might know you bought a gun, but are they going to know make, model and serial number? Will the code be only for firearm purchases or a code for gun shops? I found this while doing some research:

Credit card companies receive four different levels of data currently:

  • Level One Data: Typical consumer data such as amount of transaction, the time and date the transaction was processed. Cardholder generally using a personal credit card issued from a US bank. Can be processed with a standard credit card machine or PC processing program.
  • Level Two Data: Cardholder generally using a corporate or business credit card. Can be processed with a standard credit card machine or PC processing program.
  • Level Three Data: This level is also known as line item detail, the same information that is found on an itemized invoice is communicated. Cardholder generally using a corporate or government credit card. Requires a special credit card machine or additional PC processing software.
  • Level Four Data: Also known as bespoke data. This contains specialist information that is captured and delivered outside of level three. Not much is known or published about this data type.
Based on thisCredit card companies will need to receive level three data to be able to see exactly what items you purchased. Don't know how accurate this info is:

www.doctorofcredit.com

Does A Credit Card Issuer Know What Items You're Purchasing? - Doctor Of Credit

Question: I purchase a lot of Vanilla Reloads with my credit cards to increase my manufactured spending and get more points for a trip I'm planning on
www.doctorofcredit.com www.doctorofcredit.com
 
Annihilator said:
This new policy sucks, but won’t effect me, I have no credit cards,
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One thing that this new code will do is allow the bank funding the transaction to apply their woke policies and deny the charge for that code. You might see some of this happening when you have a charge rejected from one bank's credit card when the same transaction goes through from another bank's credit card even though the cards are from the same credit card brand. I had this happen recently to me when I attempted to buy an internet domain from HostGator.
 
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