Jerry lost his credit card and instead of reporting it right away, he decides to continue looking for it believing he could find it. Some time passes and after two weeks, he logs into the account activity page of his credit card and sees a recent $500 internet purchase that was made by someone else. At that moment, he calls to report his card stolen. How much of this $500 charge is Jerry at risk for having to pay?

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Business

Royce Waters

1 November, 15:43

Jerry lost his credit card and instead of reporting it right away, he decides to continue looking for it believing he could find it. Some time passes and after two weeks, he logs into the account activity page of his credit card and sees a recent $500 internet purchase that was made by someone else. At that moment, he calls to report his card stolen. How much of this $500 charge is Jerry at risk for having to pay?

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Hugh Foster · Answer 1

Jerry is going to be at risk for paying the entire amount of $500 because he did not report the card stolen right away. However, in most cases, according to federal law you have 60 days to report a card lost or stolen. Credit card company’s are able to make their own decision on whether or not they wish to follow federal law in this type of situation.

Lailah Walter · Answer 2

Well, he going to risk paying it all because he did not report it 2 weeks easier is he called the cops before they would block his account so no money will be stolen now he has to pay the whole charge because he didn't report that his card has been stolen.