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Is there really an effective market in credit cards' willingness to refund? Aren't credit cards preferred mostly because regulation require them to refund the
by waqf 10y ago
Is there really an effective market in credit cards' willingness to refund? Aren't credit cards preferred mostly because regulation require them to refund the user in a lot of cases?
(Also, what's with that weird US regulation about a purchase having to be "within my home state or within 100 miles of my home" to be eligible for some credit card protections?)
- qeternity 10y agoThe credit card market is a huge money maker and incredibly competitive. Have you seen the bonuses that US banks offer?
- waqf 10y agoYes, but I don't think they're competing on refund policy. It sure isn't what's in large print in the ads, and besides, the policy is mostly dictated to them by the credit card network (which isn't so competitive, it's largely a Visa/MC duopoly) and by legislation (which isn't at all competitive).
- wbl 10y agoAmeRican Express certainly is.
- qeternity 10y agoWhat? Of course they are. If I felt like my credit card didn't have my back on the chargeback policy, then I'd be far more likely to go to a competitor. It may not be what's on the ads, but you do realize customer retention is a huge part of competition, not just customer acquisition.