Buzz
More and more American consumers are receiving their new, stylish, chip-enabled credit cards in the mail. Before long, we’ll adapt to a new way of handling payments. However, there could be some bumps along the way, with one issue already surfacing: missed payments.
As CNN reports, many cardholders are receiving their new cards, only to find their previous one is no longer active. This means they need to update any automatic payments linked to the old card. Sadly, some people are overlooking this step and getting hit with late or missed payment fees. Netflix even attributed this to their disappointing third-quarter earnings.
To avoid this issue, take a moment to compare your new card with the old one. Check account numbers, expiration dates, and security codes. If any details have changed, make sure to update your payment information for any services that have your card on file.
For further information, refer to CNN's complete report.
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