Why do all of the large credit card companies opt to eat the debt of all of the numerous stolen credit cards each year?
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M$4 Answers
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M$
1. The Federal Trade Commission (FTC) requires that individual liability be limited (based on when the fraud is reported). If the fraud is reported quickly, the liability is limited to $50 for an individual in the United States.
2. Most credit card companies don’t eat these charges. They make the merchant eat them. Merchants can sign up for additional services from the credit card processors (such as Verified by Visa or MasterCard SecureCode.
Don’t worry – capitalism is alive and well within all the major credit card companies!
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
1. If possible the CC charges back to the merchant. As a result merchants have to raise their prices to make up for the lost revenue.
2. What they can't charge back gets written off against their profits lowering their tax bill.
3. The fees charged to customers go up. The result is higher interest rates and other fees.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
