Not Time to Stop & Shop

[Milton Kuo]

Re: Not Time to Stop & Shop

credit cards offer a lot of protection, allowing you to contest a charge instead of paying it. i've always wondered what the time window is, though. does anyone know if you can contest a charge 2-3 months after it's appeared on your statement and you've [presumably] paid your full balance?

It can be done and I have successfully charged back things after months have elapsed. One other reason for using a credit card for larger purchases is that many credit cards double the warranty period on the product. This might not matter so much in countries such as Australia which have laws that extend warranties on products that are high-priced but it's very useful in the U.S. where many products costing thousands of dollars only carry a 90-day warranty.

[dcarrigg]

Re: Not Time to Stop & Shop

It can be done and I have successfully charged back things after months have elapsed. One other reason for using a credit card for larger purchases is that many credit cards double the warranty period on the product. This might not matter so much in countries such as Australia which have laws that extend warranties on products that are high-priced but it's very useful in the U.S. where many products costing thousands of dollars only carry a 90-day warranty.

Another thing I've had with large purchases that at least one of my cards, but not all, does is autocheck major retailers' prices and pay the difference if the price is lower somewhere within 60 days. I think it's capped how much they'll pay. But got me $40 here, $100 there a couple times over the last 10 years.

[sadsack]

Re: Not Time to Stop & Shop

credit cards offer a lot of protection, allowing you to contest a charge instead of paying it. i've always wondered what the time window is, though. does anyone know if you can contest a charge 2-3 months after it's appeared on your statement and you've [presumably] paid your full balance?

I'll second the info about 2-3 months for contesting charges. Federal law limits cardholder liability to $50 ($0 for practically all CC issuers nowdays) if reported within 60 days of receiving the statement with the questionable transaction, so this translates to at least 60 up to 90 days (depending on billing cycle) from the transaction date.

[jk]

Re: Not Time to Stop & Shop

I'll second the info about 2-3 months for contesting charges. Federal law limits cardholder liability to $50 ($0 for practically all CC issuers nowdays) if reported within 60 days of receiving the statement with the questionable transaction, so this translates to at least 60 up to 90 days (depending on billing cycle) from the transaction date.

i ordered and paid by credit card for a $1300 item last month, that won't be delivered until next month. it's reassuring to know i have recourse if, e.g., i were to never receive the item. i don't really understand why people would use a debit card unless they don't trust themselves to avoid running up debt.

this makes me think how "rewards" cards redistribute small sums upwards, which in turn reminds me of the first 5 minutes of a 2004 louis ck routine [recommended]:

https://www.youtube.com/watch?v=xrMqs9K1n5o

[dcarrigg]

Re: Not Time to Stop & Shop

Numbers are out. Connecticut lost jobs again, net negative for all of 2019. Rhode Island in the same boat, for a little longer, lost all of 2018 job gains in the 1st quarter of 2019. Stop n Shop strike disproportionately affects them. Not gonna help. Scuttlebutt is a couple local 'conomists thinking about calling statewide recession next month. Gonna wait for April figures though. MA is still holding strong. But CT and RI have a first in; last out relationship with recessions. Construction & transportation / material moving getting slammed. Building supply & mfg taking hits too.

Like I said in the other thread, some of the macro national numbers are starting to pick up. But the 'R' word is being bandied about again.