You might have some personal reservations when it comes to trading modern credit cards which are hampering your progress as a collector. For example, it’s possible that you have been accumulating your personal credit card collection for quite some time, but since it’s all in your name, you’re reluctant for your cards to go to other collectors.
You might be apprehensive about the legal implications of trading credit cards. You might think that the credit card number and your signature at the back of the card might be used in criminal activities.
Of course, you cannot be too cautious and it’s reasonable to feel like this. However, there are some precautions you can take to prevent some of those possible problems.
Keeping credit cards pristine
A universal method of cancelling credit cards could be interesting. Unfortunately, I don’t know what it would be. Remember, any method that we accept today that would alter the original condition of a card doesn’t mean that collectors five years down the road would accept it.
This would then leave us early collectors with nothing but mutilated cards that no one would be interested in. At this time, I’m a firm believer that cards must be left in their original condition.
Also remember, the fear of what happens to a credit card is the reason most cards are destroyed, thus giving us our many rarities and current opportunities. Here are the rules I follow when I trade credit cards:
- Only trade duplicate cards. When it’s a single, once it’s gone you might never get another one.
- Only trade expired cards on closed accounts.
- Build a reputation of being a fair and honest trader. This is extremely important – word will spread.
Worried about your signature?
If you’re only trading expired cards on closed accounts then I don’t think your signature is of any value. Personally, I don’t sign my credit cards.
In the out of print book, “There’s More to Credit Cards Than Meets the Eye” by 275-52-3902 and 302-52-9965 (I’m not kidding, those are the authors); they have something to say about signing cards:
“Do not sign your cards if possible. Doing this will make the credit card companies grit their teeth. If you notice, the first thing they tell you to do is sign the card “for your protection”.
Disadvantages of signing your card
275-52-3902 and 302-52-9965 go on to say that, ““For your protection” is one of those vague areas that requires examination. When you sign your name to your credit card prior to use, you provide every opportunity for thieves to forge your signature elsewhere, such as on bank slips.
“When forged slips reach the bank, it’s nearly impossible (nor to their advantage) for tellers to discern the difference. You may have a hard time proving that in actuality, it is not your signature. What is worse, you might have to prove it in court.
“The chances of a thief forging your signature when it’s not on the card is almost nil. If the signature of the thief does not match yours, the bank cannot attempt to hold you responsible. The sad fact remains that given the slightest reason, the banks will attempt to sue you for payment.”
One of the authors learned that lesson from personal experience. It was also one of the reasons the book was written!
Copyright 1986 by Greg Tunks