Is there a site that tells, how much credit card companies pay for dealing with claims?

[ballmode]

Google isn't being my friend today...

 

[erub]

what type of claims? Charge disputes? Extended warranty? Rental car liability?

 

[ballmode]

credit card theft and charges

 

[tw1164]

I think its a $50 max (federal law) most make the liability $0 nowadays.

 

[mwtgg]

For Citigroup:

Provisions for Credit Losses and for Benefits and Claims

The provision for credit losses for 2006 was $7.0 billion, down $1.2 billion, or
15%, from 2005, which in turn, was up $1.9 billion from 2004. Policyholder
benefits and claims were $967 million, $867 million, and $884 million for
2006, 2005, and 2004, respectively.

Global Consumer provisions for loan losses and for policyholder benefits
and claims of $7.6 billion in 2006 were down $1.5 billion, or 16% from 2005.

The declines in consumer were mainly due to lower bankruptcy filings, a
stable credit environment that drove lower net credit loss ratios, and the
absence of a $490 million charge to standardize the EMEA consumer loan
write-off policies with the global write-off policy in the prior year.

Offsetting these declines were increases: in the Mexico cards portfolio; in
Asia, primarily related to industry-wide credit conditions in the Taiwan cards
market; and in Japan, primarily related to legislative and other actions
affecting the consumer finance industry in that country.

The increase from 2004 of $966 million, or 12%, to $9.1 billion in 2005
was primarily due to increases in International Retail Banking, U.S. Retail
Distribution, International Cards, and U.S. Commercial Business,
partially offset by decreases in U.S. Cards, International Consumer
Finance and U.S. Consumer Lending. Net credit losses were $7.262 billion,
and the related loss ratio was 1.52% in 2006, as compared to $8.683 billion
and 2.01% in 2005 and $8.471 billion and 2.13% in 2004.

The CIB provision for credit losses in 2006 increased $401 million from
2005 to $359 million. The 2005 provision was up $933 million from 2004.
The increase in 2006 primarily resulted from the absence of gross credit
recoveries in the prior year. Corporate cash-basis loans at December 31,
2006, 2005 and 2004 were $535 million, $1.004 billion and $1.906 billion,
respectively.

Answer your question?

 

[erub]

Originally posted by: tw1164
I think its a $50 max (federal law) most make the liability $0 nowadays.

that's what the consumers must pay, but I think he wants to know how much the companies pay. Also, remember that AFAIK Visa/MC just handle the transactions, it would be your bank that would cover based on theft..but usually they make the merchant take the hit if they can

 

[ballmode]

thanks for the answers, sorry had a family lunch and im back to OT... my second fam