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This is an interesting legal question, but in this case answer is entirely dependent on the terms of service agreement that you signed when you obtained the car
by TimTheTinker 4y ago
This is an interesting legal question, but in this case answer is entirely dependent on the terms of service agreement that you signed when you obtained the card, along with any applicable regulations.
- ceejayoz 4y agoThe thing Capital One is bragging about is enforced by law. Every American credit card has the same protection. Similar scenario: chicken in the grocery store that advertises itself as "antibiotic and hormone free". No chicken in the grocery store has added antibiotics or hormones; it's illegal.
- fragmede 4y agohttps://xkcd.com/641/ https://xkcd.com/641/
- lxgr 4y agoFederal law allows passing liability for up to $50 to the cardholder.
- ceejayoz 4y agoNot quite; https://www.law.cornell.edu/uscode/text/15/1643 https://www.law.cornell.edu/uscode/text/15/1643 A-F have to all apply. Visa, Mastercard, Amex, and Discover all additionally enforce $0 credit card liability on the banks that use their networks. You'll only see the $50 thing on debit cards, and every bank I've used has waived that to give credit card-style protection.
- lxgr 4y agoYes, effectively the $50 are definitely not worth the hassle. On debit cards, the statutory limit is actually significantly higher ($500) if you don't report the fraud within two business days, and unlimited after 60 days, but as you say, I don't know of any bank that actually makes use of that provision.
- deleted 4y ago[deleted]