Life lesson - In case you're not aware

FormerBoater wrote:

Tinstar wrote:
FormerBoater, on paper and in a perfect world you are correct. The charges won't be on your account if they are from an unauthorized user. Unauthorized users bad credit won't be reported on your portfolio with the big three. Problem is, we don't live in a perfect world. Under your theory, (and that's what it is), I could go open up several credit card accounts in my own name, using my information and previous credit history, go out and max the cards out. When I got the 10's of thousands of dollars bills in the mail, I could just call V/MC and tell them, "it wasn't me" and they would just forgive the charges. BUT like I said before, "That's not the way it works." We live in a real world with real bad guys and dishonest people. I spent 40 years as a cop, 5 of that supervising the fraud unit in a large metropolitan police department. What looks good on paper and what really happens in the real world are not the same.

With that said, you should continue doing what works for you. For me, I think Visa and MasterCard probably know more than the average Joe on how to protect their assets and my identity from being stolen so I'll go with the law of averages and comply with their guidelines and rules.

You would not prevail in the above described scenario. You would be guilty of fraud and subject to criminal charges.

I don't understand why I would not prevail. I thought all I had to do was say "it wasn't me" and all would be forgiven.

NOW you are finally getting it; there's an investigation to find out if it was me or someone not authorized by me. Investigations take time; sometimes months and could take a year or more. It's possible for Visa or MasterCard to do some investigation but normally it's done by the local P.D. That P.D. may have 2 officers and no investigator or 1000 officers and 10 fraud investigators. One investigator is not just assigned one case until it's concluded. I had to assign as many as 15 - 20 cases a day to one investigator. That is where some of the delay comes from and it doesn't just happen overnight. That was my point insomuch as I don't want to have to go through that if I can make a simple phone call or fill out an automated web form before I leave for a trip.