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What is a Credit card companies obligation to fraud?

Are there rules set out by a banking code?

If an amount is in dispute why do they continue to charge interest?(which, speaking to other people who have had there card used fraudulantly, creates further problems down the line, residual/trailing interest) Transfer it to another card? A set time is should be resolved?

Comments

  • HamiltonL
    HamiltonL Posts: 284 Forumite
    Interest probably still gets charged as the systems are set-up like that, i.e. it assumes the c/h has made the card payment. It can be taken off and refunded of course. It's a problem though when they've only got a balance transfer on the card (payments take BT off first) as every month it would probably have to be taken off til the balance is cleared in full.

    Transferring to another card can be a reluctant option, which would be customer services (even more reluctant!) advice as well.

    I suppose it can be technically adjusted by the powers that be above the customer service level. Or it may not.... The only thing you can hope for is that it's picked up and sorted out in a short space of time i.e. picked up and sorted within billing cycles of statements.
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