What is My Liability for Unauthorized Charges? What Happens if My Credit Card Is Used without My Permission?
If you notify the credit card company and cancel the card prior to the use, then you are not responsible for the debt at all. If you call and cancel the credit card after it has been used then you are only responsible for $50 under The Fair Credit Billing Act (FCBA). The Fair Credit Billing Act (FCBA) settlement procedures apply only to dispute about “billing errors”. Federal law also limits your responsibility for unauthorized charges to $50.
Related Questions
- What happens if a user has used his credit card to unlock my Pay2Play-enabled WindowsMedia file, and then he emails the unlocked file to a friend?
- How can I determine which credit card charges have been used on an expense report and which have not?
- What happens if someone uses my FairPrice Plus Supplementary Credit Card without my permission?
