Thread: Classic Credit Card charged?
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Old 10-22-2009, 12:17 PM   #7
ckole
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ckole began at the beginning.
 
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Quote:
Originally Posted by coolbreeze View Post
Maybe we're splitting hairs, but this "authorization" will cause you to overdraft (that is, if you roll with a low balance). So it's just as bad as a charge.

Moreover, what good is an "authorization" that proves you currently have $274 in your bank account? 39 days from now, you will have a very different amount. Doesn't make sense for the system to say "hmm, they have $274 in the account now. Check. Seven days from now, we'll reverse this charge then charge them again in over 30 days. Hopefully the funds are there then..."

Maybe I'm too logical?

I'm just not sure what the authorization proves/accomplishes.
Not saying it is right but that is the way it has always been done. The retailer is making sure you have a legitimate card and funds. In this instance there is a large gap between the ship date. I doubt the B&N store/system could differentiate between that and something in stock. So they default to what is "normal." Many companies just drop ship products so they need to make sure the funds are available. Look at places like ebags.com, costcentral.com, etc, etc. You order from them but the product comes directly from the manufacturer or other large distribution house. So the retailer makes sure everything is good before placing the order with the manufacturer or distribution center.

That's why I use a credit card. Yes, I have too many of them and I only use one for online stuff. I don't really care that they authorize things. If you are fiscally responsible and don't like credit cards good for you. However, I think having at least one in your wallet is necessary. I don't like giving anyone access to my checking account.
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