The price for stolen credit card numbers is falling, with card numbers going for prices between 40 and $20 a piece. This Slate article says the reason is falling demand, because credit card companies are cutting down on fraud and making it harder to profit off a stolen number. But people with just a basic understanding of macroeconomics can probably think of another reason for falling prices…say, for instance, a supply glut. The same article even talks about the development of one-stop ID theft “supermarkets” with fixed prices and bulk discounts. Hmm, yes, critical thinking, it’s good for the brain.
Credit Card Numbers for Sale [Slate]
(Photo: largeprime)
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I think you mean from 40 cents a piece to 20 cents a piece. Going for 40 cents to $20 would be a incredible price increase instead of a price decrease.
I think it means the range is $.20 to $40.
err..40 cents to 20 dollars, you know what i mean
its a tarp
So hey, a quick $20… sell my credit card number to a scammer, and tell my CC company that I need to cancel the account.
Score!
Dang it, I bought a bunch of these last month for $60/piece. Do you think they’ll price match if I still have the receipt?
Supply and demand of this sort are Micro-economics, not Macro.
Like cocaine, more demand = more production = lower price.
Just a thought, but how would you pay for stolen credit card numbers? I don’t suppose they would take a check, and getting cash to somewhere in Belarusk could be a problem.
If you used your credit card wouldn’t that just add to their list? Maybe that’s how they got these numbers in the first place.