Question

On Tuesday morning, Reggie discovered his credit card was not in his wallet. He realized he had not used it since the previous Thursday when he’d bought groceries. He checked his online credit card account register and saw that some $1,700 had been charged around the county on his card. He immediately notified his credit union of the lost card and unauthorized charges. For how much is Reggie liable?

Answer 1

Ques. On Tuesday morning, Reggie discovered his credit card was not in his wallet. He realized he had not used it since the previous Thursday when he’d bought groceries. He checked his online credit card account register and saw that some $1,700 had been charged around the county on his card. He immediately notified his credit union of the lost card and unauthorized charges. For how much is Reggie liable?

Ans. Reggie lost his credit card and someone spent $1700 on his lost credit card. After coming to know about this fact, reggie immediately informed of lost credit card to credit union of the lost card and unauthorized charges. Reggie would be liable for full $ 1700. Reason is that it was not the mistake of credit card company due to which he lost $ 1700, it was his own mistake. Credit card company would have been liable if after informing the company, credit card was not blocked and due to that someone spent $ 1700 on his cards. Based on above discussion we can say that reggie would be liable for full amount of $ 1700 credit card bill.