Can credit cards protect you from online scams?
Tuesday, December 15th, 2009
Visa and MasterCard promise you zero liability from unauthorized transactions on your card, whether in stores, on the phone or online. Check what they say here and here.
However, the promise falls short when it comes to bogus online “free trials,” designed to trap you into making recurring monthly payments for cosmetics, drugs or vitamins.
Once you say yes to the trial, you will find yourself going back to your credit card issuer every month, trying to stop getting billed for shipments you didn’t think you had authorized.
Here’s the problem. The terms and conditions of the deal are buried in fine print on the website. You may not realize what you’re agreeing to, since you think you’re ordering only a few free products. ..read more