Customer service and user experience have unfortunately been an afterthought even after so many years, and in such a competitive but commodity market, with low barriers to exit, that of credit cards.
The fraud protection on the credit cards have most often worked against me when needed, rather than protect me gently. The fraud protection service would block any big transactions (arbitrarily set limit, unknown to the users) and then there are three approaches by the three cards I hold:
1. The bank promptly calls to check if the transaction was valid and unblocks the account.
2. The bank just ignores and the user is expected to call to get the account unblocked.
3. The automated call asks you ‘gently’ to call back. Wow, you sadist bank.
Two problems with this approach, which is frustrating to me:
1. I don’t use the cards necessarily during the normal working hours. One can definitely look up online purchasing trend and the transactions that happen during non-office hours or during weekends.
2. All these approaches only unblock the card, the transaction should happen again. Why can’t they hold the transaction and pass instead of outright declining the transaction ?
How many people have lost the credit cards as against the number of times the transactions are of higher value ? I have lost the air ticket deals just because my credit card transaction didn’t go through during the weekend.
Another example of making life difficult to user idea is to send the application by mail and not having the option on website ! Oh, let me not even start how technologically challenged my bank’s website is.
Finally, what’s the point if I can’t suggest a solution. If the banks should believe they want to protect the fraud, they can allow the transaction to pass through, if the user inputs the expected amount through the online account.