Leave it to Chase to come up with a timely response to the Target card-security breach: they’ve imposed strict limits on any debit card that might have been used at Target, and by “strict” we mean $100 a day from non-Chase ATMs and $300 a day in purchases. Just in time for Christmas, too.
Chase has about 23 million cardholders; they estimate that two million were affected by the Target snafu.
You might remember that Roberta X said earlier this week:
I’m one of the forty million, waiting for the other shoe to drop and wondering what I ought to do next. If I do go back, I’ll pay in cash.
If more than a handful of consumers follow suit, there will be ructions in the industry.
Disclosure: I’ve been to Target three times since Black Friday. No card swiped: strictly cash. This is less a tribute to my ability to see these things coming than an acknowledgement that it seems like a waste to bring out the plastic for a Glitter Pinkie Pie and a bottle of Flexeril.