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Credit Card companies refund price of stolen cellphones?



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amother
Green


 

Post Wed, Mar 08 2017, 8:27 am
A relative's cellphone was stolen and someone told me if you paid by credit card then the credit card company may refund the price paid? How can they afford to?
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amother
Pearl


 

Post Wed, Mar 08 2017, 9:12 am
amother wrote:
A relative's cellphone was stolen and someone told me if you paid by credit card then the credit card company may refund the price paid? How can they afford to?


do you think the cc companies are low on funds?
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doctorima




 
 
    
 

Post Wed, Mar 08 2017, 10:00 am
They may have insurance policies that cover these things, or else they cover it out of their profits. But for stolen/lost items, I believe that only a few of the fancy, more expensive cards (like AmEx Platinum) will cover it. Broken or defective is much easier. Check the policies of whatever card was used to buy it.
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