Bingo. In my experience, dealing with the CC company in the aftermath of a cancellation is a bigger problem than the cancellation itself.

And I still don't buy the "Its for your protection story". If the CC companies start stiffing the customers (and not even telling them how/when the card was "compromised"), what little confidence is left in the cards woud instantly evaporate and the fallout would cost them billions.

If you want to be serious, the CC companies need to find a way to deal with fraud without leaving the innocent customers holding the bag.

The reality, Mr. CC Company Executive, is that I don't trust your card to work when I need it. It seems to me that when you lose the trust and confidence of your customers, you're looking at trouble.