These days, fewer and fewer of us are old enough to remember when businesses truly cared about customer service and demonstrated that care with a well-trained sales staff and polite cashiers.
Today, instead of handing your hard-earned dollars over to a flesh and blood cashier, it’s more likely that you’ll punch keys at a computerized checkout kiosk.
From buying gas at your local gas station to checking out at the grocery store, it’s possible to never hear what used to be a routine question when making a purchase, “Cash or credit?”
But beyond the sad reality that we pay more money for less service these days, we still need to ask ourselves what is best for our privacy and security when it comes to buying all the items that we buy on a day-to-day basis – cash or credit?
In addition to all the obvious privacy and security reasons that make it a good idea to pay with cash – decreasing the likelihood of identity theft being the biggest of all – there is now another reason to constantly consider what form of payment you use when making a purchase.
That reason is increased federal government monitoring of the use of credit cards.
As revealed by the Washington Examiner this week in, a newly created federal agency, the Consumer Financial Protection Bureau (CFPB), is actively monitoring almost every credit card transaction in the country. As the Washington Examiner reports:
Consumer Financial Protection Bureau officials are seeking to monitor four out of every five U.S. consumer credit card transactions this year – up to 42 billion transactions – through a controversial data—mining program, according to documents obtained by the Washington Examiner.
This action angered at least one congressman.
“This is one step closer to a Big Brother form of government where they know everything about us,” said Rep. Sean Duffy, R-Wis.
Going further, Duffy compared the CFPB to another federal agency that’s been in the news since former contractor and current whistleblower Edward Snowden spilled the beans.
”Why don’t you just level with us?” Duffy told (CFPB Director Richard) Cordray after the CFPB leader repeatedly refused to say how many credit cards are being reviewed by his agency.
“We’ve been asking these questions over and over and over again. You come in and stonewall, you try to explain, but never do we get answers. Never does America get answers,” Duffy told Cordray.
“When Duffy compared CFPB data-mining to the National Security Agency’s surveillance program, Cordray angrily replied that “there is no comparison between the NSA and the CFPB.”
”Oh there is,” Duffy retorted.
Duffy was able to extract from Cordray the names of five major banks of 100 that issue credit cards.
Those five banks are: Morgan Chase, Bank of America, Capital One Discover and American Express.
Unfortunately, it’s not just those five banks and, therefore, Americans have to assume that any credit card from any bank is being monitored by the federal government.
So what can Americans do to maintain privacy and security when it comes to making purchases? After all, there is no magic that makes federal databases containing our credit card information any less likely to being breached and making us victims of identity theft. And, certainly, Americans have every right to want to keep their individual credit card purchases private from a government agency that was supposedly designed for consumer protection – not consumer monitoring.
Pay with cash.
It really is that simple.
Yes, in some circumstances, it is downright impossible to complete a transaction in cash or with a check – the second best method for protecting your privacy and security. In those circumstances, consider the use of pre-paid debit cards, virtual credit cards, PayPal, digital currency, gift cards and the other methods discussed on pp. 65-66 of your Patriot Privacy Kit eBook.
Bottom line: Cash is still King when it comes to protecting your privacy and security.
Be safe and secure,
Rob Douglas
PS: Don’t forget to pick up your monthly newsletter for the Patriot Privacy & Security Society here:
https://www.patriotprivacy.
There is so much free, actionable advice in there, you owe it to you family to grab your copy now. Feel free to print it out and enjoy it on this Sunday morning.
Leave a Reply