The credit card system is a joke

The credit card system is a joke. Yeah, I know you know. I just wanted to remind you with my latest mockery of the system.

So, I receive a new MBNA Visa card about 3 months ago and have been using it pretty consistently since then. During the last few weeks while away on business I used it at least twice a day every day for food at various restaurants in Seattle, Bellevue, and Issaquah. Needless to say, a lot of activity. The night before I came back from my trip, after a delightful dinner of seared Tuna encrusted with soy and black pepper, the waitress handed me my card with a receipt after paying my bill. She unintentionally handed it to me backwards (no she wasn't backwards, the card was, stay with me here) and I noticed that I never signed it.

So about now you are thinking "Wow, what an idiot. How can you be so stupid?". Funny thing though, I don't feel stupid, not even the least bit. I find it rather amazing and pathetic that I could conduct 50+ transactions on this card and not one merchant ever asked me about it or probably looked at the back of the card for that matter. Should I feel stupid for not being "safer" with card? If you think so, then think about the following:

1. Let's say that somebody steals my credit card and signs it for me. Now when merchants do the signature comparisons the fraudsters receipt signatures will match the credit card signature. OH WAIT, MERCHANTS DIDN'T COMPARE SIGNATURES FOR 50+ TRANSACTIONS.
2. On the back of my card in small text below the signature strip it says "Not valid unless signed". SEEMS TO BE VALID TO ME, IT WORKED WITH 50+ TRANSACTIONS.
3. On the back of my card in small text below the signature strip it says "Authorize Signature ". I BET MERCHANTS READ THIS REMINDER RIGHT AFTER THEY LOOK AT THE SIGNATURE (EXCEPT ALL 50+ TIMES).
4. CitiBank says to prevent identity theft "Sign your credit card or write that the merchant must 'check id' on the back of your card". SEEMS FEASIBLE, IF THE MERCHANT EVER LOOKED AT THE BACK OF THE CARD (ALL 50+ TIMES).

See any trends in those examples?

Well...I've signed the card. I'm not sure why, but everybody else does so I might as well do it too. Everybody seems to think it's a good idea for some reason. I mean, I would hate to have the merchant get a wild hair and happen to CHECK THE SIGNATURE ON THE BACK OF THE CARD, and call me out on it. I can hear it now.

Merchant: Mr. Strange you didn't sign the back of your card.
Brent: Dagnabbit! I totally spaced it. I feel so stupid. Here let me sign it.
Merchant: Oh, no problem don't worry about it.
Brent: (the sound of chicken scratch as I create my humble cipher)
Merchant: Thanks Mr. Strange, I'll be right back with your receipt.

Heh, and that's the end of this sad sad joke.

Hmmm.. I may have found a good reason to sign it. I read somewhere: "By law, you are only liable for $50 of any fraudulent transactions on your card. Most credit card banks like AMEX, Citibank, MBNA, etc actually offer zero-liability on their cards, which means that you are not liable for any fraudulent activity at all! If you don't sign the card -- you are actually not eligible for those benefits!"

That's assuming you get caught. How many stolen cards do you think are recovered? When they recover them do you think they check to see if you signed it?