Yesterday, I went to Kroger, grabbed a few things, and went through a self-scan aisle. I swiped my credit card, bagged my stuff, and headed to the clerk to sign my receipt. When I got there, she told me there was no receipt. Huh? In the self-scan aisles, they no longer require a signature if the total comes to less than $50.
I don’t like that very much at all. I’m liable for that $50, if my card gets stolen. The credit card companies only let them get away with it, I suspect, because it’s below the threshold at which it becomes their problem. I wonder if Kroger would give me my $50 back if my card got stolen.
The credit card providers set the security standards, and they’re the ones who control charge-backs; Kroger has no say in the matter. If your card was used for this sort of thing, you would get the money back.
My bank will cover losses beyond the first $50, provided that I notify them within 60 days. If somebody bought $49 in groceries at Kroger, using my card, I’d be liable for that, no matter the standards of Kroger’s merchant account.
If banks that provide merchant accounts are covering consumer losses due to theft, that’s certainly welcome news to me.
I *believe* federal law limits your liability to $50. Although I have never had a card stolen, I have had to challenge a charge (from a web hosting merchant who refused to close an account). My credit card company gave me absolutely no problems with that (disputed charge v. stolen card).
Perhaps this is a reason to switch credit cards. See, e.g., http://www.creditcardsatchase.com/portal/index.jsp?pgTitle=pg_cust_faqs&subsection=reporting_lost_stolen_cards (noting that unauthorized charges will be removed within two billing cycles), http://www.citibank.com/us/cards/cardserv/advice/victim.htm?ProspectID=8DE0DC8B44C0463FB90B63D0A46F1BD1 ($0 liability policy).
PS – For some reason, in IE, when I type in this text box, it resizes to a width greater than my web browser, and it does not pop up any scroll bars.
Followup:
I’m not sure whether those policies are extended to merchant accounts; ymmv, etc., etc.
Federal law limits liability to $50, but if your bank only pays for theft beyond $50, your bank really, really sucks. The vast majority of credit card accounts offer no liability for any fraudulent charges. It’s become almost required in the era of internet shopping.
My bank really, really sucks. :) (My credit card bank, that is. My local bank rocks.)
Ditto Craig: the window here is wider than display, and there are no scroll bars. (I thought this was just a problem on the laptop with its 15″ LCD, but I’m actually at the office today with a big-ol’ honkin’ 19″ CRT monitor and the problem is the same.). I usually just trust my touch-typing skills for the four or so words I can’t read in each comment, but, well, you know, ex-QA guy to developer….
Get a new credit card. Stick the other one in a drawer. (Don’t cancel the account; an old account helps your credit rating.)
If your local bank “rocks,” why give your credit card business to the out-of-town
big player?
Hmm, looks to me like IE is misinterpreting the requested width of the textarea. 100% apparently means, like, 110% to IE. God, I hate IE. I don’t know why anybody still uses it.
I’ve spent a few minutes on debuggery, and I haven’t gotten far. I can see how dreadfully annoying that this must be. I’ll keep looking into it.
If your local bank “rocks,” why give your credit card business to the out-of-town
big player?
They’re very local — they don’t offer credit cards, never have in their 7 years of existence.
Sadly, IE is the only browser we’re allowed to have at the office. I much prefer Netscape at home, although my RSS feed aggregator is an IE add-on.
Re credit cards: at least your creditor isn’t omitting posted charges from your monthly bill in order to deceive you into not paying your bill in full, as you intended, so they can still bill you interest every month, like I’ve been informed one creditor is apparently doing….