Is credit card fraud protection just an illusion?

Cucumber · 10:05 PM

I came across a very disturbing article. It is about a woman that paid $10,000 to a fraudulent company and the credit card has refused to refund her charges. They mention this in the article

Quote:

Lazarus has learned the limits of challenging a questionable transaction. Unless you can prove that a thief is using your card or a merchant concocted or inflated a charge, the law doesn't require the bank to cancel a debt.

Whistleblower: Stiffed, and on the hook | StarTribune.com

In other words that means we aren't really protected?!?!

fffresh · 08:05 PM

It sounds like there is more to it than the article suggest. The woman knowingly made the purchase. It sounds like a case of buyer's remorse rather than fraud to me.

AnthonyBarone · 03:31 PM

Fresh hit the nail on the head. When I make bad business or investment decisions and put the cost on my credit card I can't go blame Visa or American Express because I screwed up and that is what she is doing.

DoingHomework · 11:11 AM

Really! This woman just made a bad choice. There was no fraud that the credit card company should refund against.

Cucumber · 01:10 AM

Quote:

Originally Posted by DoingHomework

Really! This woman just made a bad choice. There was no fraud that the credit card company should refund against.

I think it falls under fraud since the company was breaking the law with what they were selling.

DoingHomework · 01:52 PM

Perhaps. But the trouble is that the woman got what she ordered, she just didn't like it. It would be like if you bought something at a store, decided you didn't like it, then found out later the store did not have a business license. That does not necessarily mean that your purchase should be refunded.

Cucumber · 12:09 AM

Quote:

Originally Posted by DoingHomework

Perhaps. But the trouble is that the woman got what she ordered, she just didn't like it.

That might be the case but it sounds like to me they promised her one thing and gave her something else and that is fraud IMO. But yeah it might not be that clear and dry of an answer.

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08:05 PM	#2
fffresh Centurion Member Join Date: Apr 2008 Location: the edge of the world Posts: 417	It sounds like there is more to it than the article suggest. The woman knowingly made the purchase. It sounds like a case of buyer's remorse rather than fraud to me.

03:31 PM	#3
AnthonyBarone Centurion Member Join Date: Apr 2008 Location: White Plains, NY Posts: 128	Fresh hit the nail on the head. When I make bad business or investment decisions and put the cost on my credit card I can't go blame Visa or American Express because I screwed up and that is what she is doing.

11:11 AM	#4
DoingHomework Centurion Member Join Date: Sep 2009 Location: Arizona Posts: 113	Really! This woman just made a bad choice. There was no fraud that the credit card company should refund against.

01:52 PM	#6
DoingHomework Centurion Member Join Date: Sep 2009 Location: Arizona Posts: 113	Perhaps. But the trouble is that the woman got what she ordered, she just didn't like it. It would be like if you bought something at a store, decided you didn't like it, then found out later the store did not have a business license. That does not necessarily mean that your purchase should be refunded.