topic Re: Thank you Chase! in Credit Cards

Thank you Chase!

Appleman — Wed, 13 Dec 2017 19:56:57 GMT

Chase Fraud department notified me via Text and E-mail related to a potentially fraudulent charge. I know that I had not used my Marriott Rewards card since early November (I use it when I travel).

Someone created a card with my number that was swiped at 2 different stores on the other side of the metro area. A Lowe's and City Gear 77 (x2) for a total of about $400.

Chase called me about 10 minutes after I indicated that the charges were not mine in response to their email. Since I did not have the card on me, I asked if they used the chip reader and they said that 'No, the card was swiped'.

I double checked when I got home and sure enough, the card is still in my possesion.

I know that I am not liable for the charges. I am curious if Chase eats the fraudulent charges or if the stores are liable for the charges?

Re: Thank you Chase!

HeavenOhio — Wed, 13 Dec 2017 20:11:32 GMT

It could be either/or. I believe merchants are supposed to cover swipe transactions, but that doesn't seem to be set in stone. I had fraudulent charges on my CapOne card refunded by both CapOne and the merchants, i.e. I was refunded twice for each charge. It took a while for CapOne to bill me for the difference.

Re: Thank you Chase!

Anonymous — Thu, 14 Dec 2017 02:11:50 GMT

If the card has a chip and the merchant allowed it to be swiped then the merchant takes the loss. If it does not have a chip and requires a swipe the bank takes the loss. If it has a working magnetic stripe but was hand keyed by the sales person the store takes the loss. If it has a workable magnetic stripe but the customer does a pull that gives the impression that the stripe does not work and the cashier overrides to have the customer enter the account number on the pin pad the bank takes the loss.