Question- Urgent!! (1 Viewer)

[MiChelle]

A credit card company updates its records once per month, regardless of when they recieved their latest Infomation. Discuss(Identify issues and provide points for) the ethical considerations related to updating your records.

I already know its only relivant for a certain period of time only, and after a period of time when it hasnt been updated it is no longer relevant because details have changed..


What are some other things i can Add, HELP!

 

[Morgues]

Aren't credit cards batch processed to begin with?

 

[del]

yeah.....their batch....but i think they update them like every night... u know so if ppl are over their credit limit....well if its cos of credit limit...thats the flaw in updating once/month i s'pose....who knows

 

[Dario]

No, they would have to be processed in real time to approve the transaction.

 

[del]

yes transaction, wise.....but overall they are still batch.... look in the textbook.....

it is batch, hence the reason why you can still 'over' your credit limit... because the master file hasn't been updated for the day yet

 

[Nightshade]

I would say thats its a hybrid between batch and real-time...

real-time bcoz all ur debts are added as they happen, they would never leave that batch otherwise we could all spend big for a night on a $2000 credit limit and go overseas the next day.

batch bcoz u pay ur debts in installments.

thats my view.

 

[del]

actually someone's done that to me parents b4...well someone..got hold of the credit card, it was round the timre you get the new cards, so someone stole it along the way..... and ran up a massive bill in 1 day....they bought all this crap.....

some people still use the old impression of the card machine thingo.....thats batch

 

[srini]

they are not hybrid. They are copletely batch. Even in the syllabus it says its batch, it only seems to look like its real time.

 

[fatmuscle]

I thought they wre both ?!?!?!

cos there's the like electronic sort of Credit Card transactions
which are half batch, half real

and the manual Credit Card system, which is completely batch

 

[srini]

Originally posted by fatmuscle
I thought they wre both ?!?!?!

cos there's the like electronic sort of Credit Card transactions
which are half batch, half real

and the manual Credit Card system, which is completely batch

nope, coz u only swipe, actual processing isnt done until the slip goes to wherever is goes

 

[blake]

lol lol lol

 

[fatmuscle]

Originally posted by srini

nope, coz u only swipe, actual processing isnt done until the slip goes to wherever is goes

yeah..... that's batch?

what about the other method?

2 methods!!

 

[juzzy18]

The answer to your question...as set out in the syllubus and the textbook...a credit transaction is both a real time and batch process.

Some systems appear to be operating in real-time to the participants but in fact operate as a batch systems. People think that credit card transactions are preformed in real-time, but the only online checks are that the card is not listed as lost, stolen, cancelled or over the card limit. The remainder of the transaction, that is updating stage (money transfer and the updating of the new balance), is performed as a batch process anything from a few hours to several days later,

The older-style machines that still produce carboned impressions of the credit car on paper, are sent in every day or two as a batch.

I hope that is some kind of help...

Juz