Quote:
Originally Posted by porwolf
Happened to me once. My Credit Card was stolen and within 2 hours expensive purchases were made, clothing, stereo, etc. to the tune of about $2,000. Called the CC company and they credited me with the charges, of course. Called the CC fraud department and they took my information. Never heard from them again. Called the local police department, they took the report and I never heard from them again. I guess it is cheaper for the CC company to absorb the losses and recover them with higher fees for everybody. And the local PD knows the situation.
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Nope. The CC companies lose nothing. The merchants where the goods are purchased eat it. According to the CC companies, they did not do a good enough job with their due diligence. This is why I shut down my online mc store... I ate $7500 in purchased goods that were shipped to a coffee store in Kona, Hawaii. I filled out a police report, and even knew who did it and the fact that they worked at the coffee shop. Nobody was interested in helping.