What is my liability for a fradulent charge made on my Mastercard credit card?
May 5th, 2008 | by admin |Ramji asked:
My credit card bank called me for two suspicious charges , over $ 800 each,made on my Mastercard (by the same person, for identical merchandise, for same amount), which I confirmed were fraudulent. Bank were able to get the merchant to reverse charges on one transaction, but for the second one, they asked me to call the merchant directly for giving the credit on my card. I did just that, but the merchant asked me to work the credit thru my bank ! My bank, in turn, has asked me to provide them with a notarized affidavit, for them to persue this fraud investigation. I am in the middle of preparing the requested documents, but where does this leave me, as far as my liability for this fraudulent charge ?
Pauline
My credit card bank called me for two suspicious charges , over $ 800 each,made on my Mastercard (by the same person, for identical merchandise, for same amount), which I confirmed were fraudulent. Bank were able to get the merchant to reverse charges on one transaction, but for the second one, they asked me to call the merchant directly for giving the credit on my card. I did just that, but the merchant asked me to work the credit thru my bank ! My bank, in turn, has asked me to provide them with a notarized affidavit, for them to persue this fraud investigation. I am in the middle of preparing the requested documents, but where does this leave me, as far as my liability for this fraudulent charge ?
Pauline
3 Responses to “What is my liability for a fradulent charge made on my Mastercard credit card?”
By spifiman1 on May 8, 2008 | Reply
Under Federal law the most you can be liable for is $50.00, but you must file the proper paperwork with the credit card company.
By Anarchrist on May 9, 2008 | Reply
The whole amount with credit cards you could end up liable for 50.
The whole amount with credit cards you could end up liable for the whole amount with credit cards.
By orlando on May 9, 2008 | Reply
You gotta jump trhough their hoops - it can take up to 120 days for everything to clear. The worst part about it is that it can affect your credit rating for that period of time depending on your limit. But yes, the aformentioned $50 can be considered as a deductable is to insurance.