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rabidantidentyte t1_jae6pgk wrote

Reply to comment by pk10534 in [OC] How American Express pays for it's attractive credit card rewards by joinkudos

Of course Amex will take your side in disputes. Either Amex is liable, your FI is liable, or the merchant is liable. Unless you're doing claims on your Amazon purchases because you overspent, it'll always work out in YOUR favor due to Reg E. Their job is to pass off the cost of fraud to your FI or the merchant.

So many places don't take Amex for this reason - their verification services are ass, so many merchants will be held liable without chip integration/2FA on online purchases. The cost will almost never fall on them. That's why so few banks carry them/so few merchants accept them.

Source: what I do for a living

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pk10534 t1_jae7e9r wrote

I’ve had much rougher experiences with other banks getting money back.

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rabidantidentyte t1_jaeam86 wrote

Done over 1000 fraud cases this past year for my employer and the only times our cardholders don't get refunded are if they 1. Participate in a scam, or 2. Send money p2p (usually when they're scammed). P2P has no protections for fraud, and 3. If they stage fraud to get their money back, i.e. buyers remorse.

Usually the merchant refunds the money, or the FI writes it off. Saying usually goes "everyone has the right to make bad decisions, as long as they're the ones making them"

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pk10534 t1_jaefhd5 wrote

Good for you, I didn’t say I never got my money back, I said Amex made it a lot easier. I don’t understand why you’re talking as if I’ve never had a credit card or bank account and can’t be trusted to speak out about which companies I find easier to work with.

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rabidantidentyte t1_jaeg90h wrote

Cause they are all subject to the exact same federal guidelines. Customer service is another story, but it's not up to Amex/your FI when you get your money back. It's up to RegE.

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