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No because if there are bad charges on my card the bank absorbs them, I am refunded, and I am issued a new card in under 48 hours. If the bank itself collapses
by poolpool 13y ago
No because if there are bad charges on my card the bank absorbs them, I am refunded, and I am issued a new card in under 48 hours.
If the bank itself collapses the FDIC insures my deposits.
Then again if my drug dealer steals all my money I am shit out of luck, much like all the users of this site. I guess it isn't that different at all.
- dangrossman 13y ago> No because if there are bad charges on my card the bank absorbs them The transaction is reversed and the money comes back from the merchant it was sent to, your bank doesn't absorb any loss. The only victims of credit card fraud are the stores, not the consumers, not the banks, and not the unauthorized user of the card. Nobody who should have actual liability is actually punished in any way, just innocent retailers, for the most part.