Re:Why Germans pay cash for almost everything
by pmoriarty on Tuesday August 08, 2017 @12:38PM
(#14959595)
"Almost all credit cards are 0 liability to the consumer. Even if someone gets a hold of my card, I can call the credit card company and get all fraud charges reversed."
That's true only if you or the credit card company notice the fraudulent transactions and act on them within the limited grace period, which I believe is something like 3 months.
Many people don't actually keep their receipts or reconcile them with their credit card statement. So unless they get an unexpectedly huge credit card bill, they might not even notice that they were victims of fraud and in that case the "0 liability" credit card policies are worthless, because they get defrauded anyway.
That's true only if you or the credit card company notice the fraudulent transactions and act on them within the limited grace period, which I believe is something like 3 months.
Many people don't actually keep their receipts or reconcile them with their credit card statement. So unless they get an unexpectedly huge credit card bill, they might not even notice that they were victims of fraud and in that case the "0 liability" credit card policies are worthless, because they get defrauded anyway.