Question about credit card dispute... how does the credit card company get their money back?

[Turkish]

Continued from this thread...

Anyways, I disputed it and Citi told me that I'd see a credit in 1-2 days. I wonder how Citi gets their money back, do they involve their lawyers or companies agree to refund the money in a dispute when they use a POS (the machine they use to charge credit cards). Anyone?

 

[SuperSix]

No, under normal circumstances, no lawyers.
they mail a copy of the complaint (chargeback) to the business, and the business has XX amount of days to respond to the chargeback. Based on the information provided, (the vendor better have PERFECT records or excuse), they simply remove the money from the vendor's daily CC deposits, or remove it from the bank account the completed charges go into. As a customer, the odds are stacked heavily in your favor.

 

[Turkish]

Originally posted by: SuperSix
No, under normal circumstances, no lawyers.
they mail a copy of the complaint (chargeback) to the business, and the business has XX amount of days to respond to the chargeback. Based on the information provided, (the vendor better have PERFECT records or excuse), they simply remove the money from the vendor's daily CC deposits, or remove it from the bank account the completed charges go into. As a customer, the odds are stacked heavily in your favor.

Thanks for the information :beer:

 

[Merlyn3D]

I believe Citi and American Express are the two best cards you can get. They are so good with customer satisfaction. I love my Amex

 

[Turkish]

Originally posted by: Merlyn3D
I believe Citi and American Express are the two best cards you can get. They are so good with customer satisfaction. I love my Amex

My other card is an Amex. I actually thought that I paid with my Amex but found out it was my Citicard when I called Amex

 

[CTrain]

Yeah, let me tell you, merchants don't want to fvck with CC companies.
Whenever a merchant try to fvck with you, let your CC handle it.
In one of my thread, a wheel company gave me the run around and I called my CC company.
4 days later and I got my the charge removed.

 

[Ryan]

These same protections for card holder make it IMPOSSIBLE for businesses to get money back when being they're actually the victims of fraud. Currently, I have a customer who bought like 300 dollars worth of pizza, on several different credit cards, and now they're disputing them all. I love having to file police reports, contact creditors, etc, etc, etc :roll: