jay-h (8/11/2014)
Andrew..Peterson (8/11/2014)
Credit card companies focus on fraud because they have to. A long time ago, a law was passed limiting the card holder's exposure to $50. (thank government regulations - for anyone who is anti-government).Funny thing, that. Many cards hold the cardholder to zero exposure. This is NOT required by regulation. But competition and the realization that getting the user to carry the card involves allaying fears.
Free market.
Nope, regulation. The regulation has reduced the liability to below the 'hassle threshold'. If liability were unlimited you'd not have them writing off the cash. In fact, if liability were pinned at $5000, or even $1000, they wouldn't, no matter how "competitive" the market cosy oligopoly.
They'd just sell you a useless insurance policy they're almost never going to pay out on "for your peace of mind".
I'm a DBA.
I'm not paid to solve problems. I'm paid to prevent them.