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fescuerescue

(4,475 posts)

20. Yes but that's not the reason why

Reply to BSdetect (Reply #17)

Fri Mar 8, 2019, 12:02 PM

Mar 2019

Is it a writeoff? sure but no (smart entity or person) incurs expenses SOLELY for the write-off. It's always better to have the cash than the writeoff.

They write it off because pursuing and collecting it cost more than they could collect. Plus their is the chilling effect on vendors when they overly scrutinize all transactions, which they feel cost more than the fraud.

They have learned that's far better for the business to simply pass the cost on to you and I in the form of higher APRs

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Does nobody care about credit card fraud? [View all] edhopper Mar 2019 OP

What's the total dollar value? jberryhill Mar 2019 #1

around $1,000 edhopper Mar 2019 #7

The issue then becomes how one defines "care" jberryhill Mar 2019 #11

Credit card fraud edhopper Mar 2019 #13

Of course crime pays jberryhill Mar 2019 #15

point taken edhopper Mar 2019 #16

No they don't fescuerescue Mar 2019 #2

Better yet - they'll sell you "fraud protection" jberryhill Mar 2019 #12

CC has the highest rates because the loan is unsecured Buckeyeblue Mar 2019 #19

I was trying to use my chase card to buy tires and my card was declined.. dubyadiprecession Mar 2019 #3

The CC companies implement practices to prevent future fraud MH1 Mar 2019 #4

We are getting a new card edhopper Mar 2019 #8

Yeah, it's a shame, but I think there's a lot of small-time theft MH1 Mar 2019 #14

My card gets stolen about once a year. Farmer-Rick Mar 2019 #5

Another thing to be careful of treestar Mar 2019 #6

Chase is really good with fraud, imho. I've been alerted and sent new cards a two times over sarcasmo Mar 2019 #9

But are they doing anything edhopper Mar 2019 #10

Russia and Asian hackers, fraud alert is about the only thing you can do. sarcasmo Mar 2019 #21

Do banks just write off such losses as tax claims so they pay less tax? BSdetect Mar 2019 #17

Yes but that's not the reason why fescuerescue Mar 2019 #20

I used to work in the security dept. of a major credit card. Coventina Mar 2019 #18