Credit Card Companies: Argument Against Fraud

One of the many advantages credit cards have is protection, especially against fraud. Fraud happens when a person least expect it and catches them off guard. Credit card companies protect themselves by often asking cardholders to identify themselves. Arno A. Penzias states that Cardholders must verify purchases, and present some form of verification, therefore, the card knows that the correct cardholder has bought that item. This shows that there are security measures and steps the buyer goes through before the cardholder gets the purchased product. Also a credit card has more ways to protect people against fraud. Credit card companies spend money to get the right equipment that helps them detect when fraud is going to happen. David Wayne and his partner Charles F. Pigg states there is a filter that detects fraud before it actually happens, the credit card companies are always on the lookout for fraud. Security is taken serious when it involves the cardholder to stop using their credit cards; so they are going to protect the cardholders at all times.
Another thing that …show more content…
When the cardholder buys a product and its defective and they have lost their receipt, they can easily get their credit card company to send them their records. Investopedia says they keep a record of the expenses, helping the cardholder to monitor the financial activities, so no matter what the credit card companies have the records. So when a buyer ever needs to return a defective product, call the card company just in case. The cardholder never has to worry about billing errors or their defective merchandise. Investopedia also states Credit cards allow the cardholder the right to dispute billing errors and defective merchandise, which means if the store does not want to refund the money the credit card will give them documents and back the cardholder