I first ran into this more than 20 years ago when I was working in retail. Customer had waited for weeks for his new card so he could come into the store and buy a rather high-ticket item. But the card refused to go through. When he finally got an answer from his provider, he found the card came with a built-in loan applied against the card in the amount of the credit limit on the card. He couldn’t even buy a candy bar with the card until he paid the ransom.
I first ran into this more than 20 years ago when I was working in retail. Customer had waited for weeks for his new card so he could come into the store and buy a rather high-ticket item. But the card refused to go through. When he finally got an answer from his provider, he found the card came with a built-in loan applied against the card in the amount of the credit limit on the card. He couldn’t even buy a candy bar with the card until he paid the ransom.