Card recovery bulletin,
Definition of Card recovery bulletin:
A card recovery bulletin is a paper listing of lost, stolen, past-due, over-limit, counterfeit, or otherwise problem cards published by credit card companies, like Visa or MasterCard. Merchants will review the list to discover if a credit card seems suspicious or not. .
Card issuers publish card recovery bulletins, also known as cancellation bulletins, hot card lists, or restricted card lists, but they are usually used by non-U.S. merchants who either do not have computers or Internet access. Such bulletins were used by U.S. merchants on a regular basis before the digital era.
A paper that lists stolen credit cards, past due accounts, and over-limit accounts traditionally published by Visa and MasterCard. Most records are now kept electronically, but paper bulletins are used by merchants who do not use computers or the Internet. Also called cancellation bulletin, hot card list, or restricted card list.
How to use Card recovery bulletin in a sentence?
- The bulletin is published by the major credit card companies and distributed to a variety of merchants as a way to alert the merchants not to honor a suspicious card.
- In the digital era, a merchant is more likely to check electronic records for the viability of a card, as those records are updated continuously and are thus more current.
- However, the credit card companies still distribute the card recovery bulletins for the benefit of mostly non-U.S. merchants who might lack a computer or Internet access.
- A card recovery bulletin is a pre-digital era method for merchants to discover whether a suspicious credit card has been stolen, is over-limit, or is a problem in other ways.
Meaning of Card recovery bulletin & Card recovery bulletin Definition