Well I sure did! Silly me for thinking that credit card protection was for the customer. Thank you, Michael, for sharing this information with us. Perhaps we will have our eyes open a bit wider the next time we read about credit card protection programs. Taking time to read the small print is not something we always do, is it?
I have disputed many credit card charges and never had a problem - but none of them were like the situation you stated here. If your credit card company won't help - then their is always small claims court.
In the end, this is a good lesson for anyone out there - business or otherwise. You have to protect yourself as no one is in your corner. No company will look out for you - that is just the facts of life in today's new economy.
That is interesting. I'm wondering if this particular credit card company had a separate policy for airfare? Many business credit cards "sell" there company cards by including coverage for airfare. Do you know if this happened to be the case? I was just curious.
There were no special provisions for airfare in this case- just the plan in general.
Credit cards have turned into an integral part of modern living as they facilitating making purchases and paying bills without carrying cash. They make life easy and help maintain a record of our expenses and help us dispute charges for undelivered and defective things. In addition they enable us to earn reward points. However credit cards could make you overspend and get into debt. There are 9 ways that could help you to be credit card smart.
Ramalingam K, MBA, CFP,
Director and Chief Financial Planner,
Holistic Investment Planners
(Follow us on):-
Thank you Ramalingam for the valuable information. I am sure many of us can take advantage of those tips so as to not make a financial disaster out of such a useful financial advantage. I believe that spending responsibly is the key to any financial decision we make.
Many people apply for credit cards to earn miles and points. Bank of America is one of the banks that offer fantastic credit cards without putting much effort in promoting them. The BankAmericard Better Balance Rewards card, is just one example. This rewards users for paying their monthly bills on time and for throwing in a little more over their minimum charge. Learn more: Bankamericard Better Balance Rewards Card.
(Excerpt from our newsletter found at www.deltacreditrestoration.com)
Many credit card companies boast their consumer protection plans. They inform you that if you make a purchase or are a victim of fraud, they will “get you your money back”. Well, that is partly true. We recently had a customer that disputed a transaction with their credit card. They purchased a flight to Mexico. Due to the fact that their trip was riddled with issues stemming from poor customer service on the part of the airline, they wanted their money back. The credit company agreed that the grievous errors made on the part of the airlines in fact constituted a transaction whereby the customer did not get what they anticipated in their purchase and reversed the transaction.
The airline did not come to the same conclusion. Now out the money for the used ticket, they sent the bill to a debt collector who is now trying to collect and is reporting their efforts to the credit bureaus. The credit card’s response was that they are now out of the picture and that the only recourse is for the customer to un-reverse the transaction.
The lesson is– the credit card protection plan wasn’t protecting the customer. They were protecting themselves. They had a case whereby a customer verbally stated they did not want to pay for the transaction. For the credit card company, it’s better to have the customer owe the airline than to owe them for the unwanted transaction.
Did you get the “aha” moment?