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  1. #1
    Join Date
    May 2009
    Location
    Northern California
    Posts
    27

    Credit Card Arbitration - one of the biggest scams

    Credit card companies are, of course, among the biggest scam artists there are. For a long time, they've been able to cover themselves with the arbitration clause that's standard in the terms of nearly every card.
    If you have a dispute with a credit card company, you've been required to deal with it in arbitration rather than regular court. And the arbitrators find in favor of the card companies 94% of the time:


    But this may be coming to an end. The arbitrators are now under legal threat because of their undisclosed ties to the card companies. At least two of the big arbitration firms will no longer take on credit card cases.

    So I'd be curious to know from any one in a fight with their credit card company, now how are these things being handled?

  2. #2

    Re: Credit Card Arbitration - one of the biggest s

    Stop Using Credit Cards And You Will Be Free!!

    Fight The Real Power, Debt

    Its Not Credit, Its Debt!!!

  3. #3
    Join Date
    May 2008
    Location
    Boston
    Posts
    26

    Re: Credit Card Arbitration - one of the biggest s

    Quote Originally Posted by WallStreet666 View Post
    Stop Using Credit Cards And You Will Be Free!!

    Fight The Real Power, Debt

    Its Not Credit, Its Debt!!!
    Why do you automatically associate using a credit card with debt? I pay all of my credit cards in full most months. Why do that instead of using cash or a debit card? One reason is rewards. The credit card company ends up paying ME negative interest to use their product... I only use rewards cards. Since I PIF, I rarely pay any interest. Another positive benefit of credit cards is that it protects you as a buyer from scams. If you pay with a credit card, it is easy to have a charge reversed. You can also do this with a debit card, but do you really want to tie up funds in your checking account?

    Learn some self control and don't charge more than what you can afford, and credit cards aren't bad.

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