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how so? when a card is fraudulently used to make purchases, AmEx is not refunding you from their own pockets. they take back the money from the merchant it was
by willstrafach 10y ago
how so? when a card is fraudulently used to make purchases, AmEx is not refunding you from their own pockets. they take back the money from the merchant it was fraudulently spent with (a chargeback). no loss at all on their side.
- jonknee 10y agoWhich is then passed on to customers through slightly higher prices for goods.
- superuser2 10y agoBut there is usually no way to opt out of this. Paying for it and not benefitting from it is lighting money on fire.
- willstrafach 10y agonot really, prices are based on market demand. the market does not care about fraud issues and such. whatever the theoretical rise in price would be (due to the fraud), don't you think the merchant would price things at that level in the first place to make extra profit, if they could?