All credit cards expire and all credit card companies reserve the right to change your rate or limit based on many factors. Chase will raise my rate to 29% if I am late on a payment with another creditor. So if I am always on time with them, but am late on my mortgage they will rase my rate.
I think you miss the point entirely. Gold and other precious metals have maintained a high value over many thousands of years. Even today gold is worth more than paper money. You obviously slept through world history or you'd know this. Gold prices always change, but the relative values do not. From the times of the Romans, to the heights of European kings, the beginnings of this country, to today precious metals will always be bartered and for very nice things. Whether or not you'll be killed for it or find someone that will engage in a trade for your gold isn't the point, it's that a precious metal will always be in demand and you'll always have it's inherent value to trade things for. Especially so when the paper we call money eventually tanks and goes the way of the Dodo. Have you seen how many Zimbobwe dollars it takes to buy a loaf of bread? I have a 10 billion dollar bill from there. The paper it's printed on is worth 100 times that. Paper money fails because it's based upon debt. Gold is not based upon debt so it's inherent and materialistic value never changes. Is it wise to invest in gold? Maybe. Depends on the style of your foil hat and if you wear one or not. But to say that it's just as worthless in society as paper money or only worth a baguette is foolish. Read world history and you'll see. Entire empires have fallen due to debt throughout history and we are heading that very direction.
Having 4k in the bank in this economy isn't foolish. Nor is this man an idiot for buying a $30 product. He was erroneously charged 122 times. This could happen to anyone and the people calling him out for being irresponsible for his purchasing decisions are either dumb, or try to act superior. He is a victim and we should all stand behind this man for getting screwed once by failures to prevent 122 charges for the same item, and then being screwed again by having the companies point fingers rather than help the dude out. Those chastising should feel ashamed, this man did no wrong and the two companies helping him could make serious brownie points by resolving this quickly and with minimal fuss.
My husband works in the very department of paypal dealing with this. He already knew about it when I asked him. It is Apple's system automatically charging for this. PayPal has tens of thousands of customers other than Apple that are not having this issue. It's between Apple and PayPal, yes, but it's not on PayPal's side.
Also, Apple is refunding any NSF fees that anyone's bank gets, since most people have their PayPal linked to a bank account. (And if you know anything about that, while Apple can refund, there is no way to stop an electronic bank transfer. Not PayPal or Apple's fault.)
Not really a reason to get mad at PayPal, TBH. Apple, definitely. Even our most loved mothership has errors from time to time.
Time for me to add my story..
After the iTunes/credit card scam story broke, I decided it would be safer to use itunes gift cards with itunes accounts. To make it even safer, I created 20 different accounts, with different password, and applied the $50 itunes credit to each account.
Within 2 days, all accounts were 'suspended'. Emailed itunes customer support, after a week someone gets back to me saying that one household can only have 5 accounts maximum. Ok, didn't know that, so I ask if they could simply transfer the credit from all the accounts to 5 accounts.
Nope, I had to get a refund (check mailed out to me) Ok, so can I get that then? Nope. I need to scan the copies of the iTunes cards I redeemed. Wow. Luckily, I still had all the itunes cards that I had redeemed. So I scanned all of them and emailed it to customer support.
Good enough? No. Now they ask me to scan the sales receipt. I didn't have that, but had a email confirmation from best buy, so I forwarded that. After a week, they say they'll mail out a check.. and fast forward one more week, I receive a check.
What if I had thrown all those redeemed itunes cards away? Would Apple then keep my money? Hmm..
You bought $1,000 in iTunes gift cards at one time? Or did you try to use the same gift cards on 20 separate accounts? I buy iTunes gift cards at a discount (or use my credit card points when they are "on sale" for better prices then cash back), but I only put $50 on my account at a time. Why did you need $1,000 at one time?
While I do *NOT* blame the buyer...I will say this.
Your banking accounts should be kept as simple as possible.
Please....use a credit card to buy stuff! It's so much safer. You don't care if you lose $3000 in your credit line for 48 hours, but to lose $3000 of your hard earned money sucks.
Just pay with credit card and do an electronic payment from your bank to the card, before the bill even comes. This is what I do.
Don't use paypal or a "check card" for purchases like this and make sure that you don't use developer betas to buy stuff.
Even if you have bad credit, you can use prepaid iTunes cards or prepaid Visa/Mastercard credit cards to limit the potential damage and anyone can buy one of those.
The victim dragged his mortgage into the story to increase the shock value (e.g. introduce the "human element" of his story which would otherwise simply be a technical discussion. Would it read the same if he said he was going to blow 4K on a rare pair of Air Jordans, but now he can't afford it? He should have just went for the full monty and said that he can't afford a kidney transplant now.
This is why you NEVER use a debit card for any on-line purchases. If there's a mistake when you use a credit card, it's the banks money that is tied up, not yours. If you use a debit card, your money can get tied up while a dispute is being worked out.
And, no ones being a thief here. It's normal for disputes to take time to chase down who has the money and who owes who. My x-girlfriend works in credit card fraud and she saw this type of thing all the time. They would always recommend never using your debit card for on-line purchases.
Bought cards at one time, redeemed at the same time. Er.. maybe because I buy more music and movies than the average person (hint: look at my nickname!)
Since it's a significant value I didn't want all the money to be stored in one account. Didn't make a difference eventually, I couldn't use the credit at all.
Why are gold and diamonds worth anything? Because someone convinced us that they are. Ask the native americans how those beads worked out. Trust me, if things ever really hit the fan, I would rather not just be holding a pile of gold.
Don't use paypal or a "check card" for purchases like this and make sure that you don't use developer betas to buy stuff.
Even if you have bad credit, you can use prepaid iTunes cards or prepaid Visa/Mastercard credit cards to limit the potential damage and anyone can buy one of those.
This is why you NEVER use a debit card for any on-line purchases. If there's a mistake when you use a credit card, it's the banks money that is tied up, not yours. If you use a debit card, your money can get tied up while a dispute is being worked out.
And, no ones being a thief here. It's normal for disputes to take time to chase down who has the money and who owes who. My x-girlfriend works in credit card fraud and she saw this type of thing all the time. They would always recommend never using your debit card for on-line purchases.
If you were spending the money right away then why did you need it separated like that? If I'm going to spend $1,000 tonight I'm not going to worry about it getting hacked in the twenty minutes it takes me to purchase.
Confidentiality clause? NDA? Your husband ever sign any of those?