2007-02-03 04:08:17 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
to state by law that he was not responsible for any transactions after his card was stolen. It just stops him being asked for the money he didn't spend if his cards were used!
2007-02-03 04:11:38 · answer #1 · answered by Confuzzled 6 · 0⤊ 0⤋
The reason is that the disclaimer could be used as a false statement if it is found out that the card was not stolen. It is a way for the credit card company to protect itself from fraud.
2007-02-03 12:12:12 · answer #2 · answered by David W 3 · 0⤊ 0⤋
That's right.
Essentially it is so that that Bank can sue him for the money if it later turns out he had something to do with the theft / fraudulent use.
2007-02-03 12:14:06 · answer #3 · answered by Steve B 7 · 0⤊ 0⤋
what?
2007-02-03 12:11:16 · answer #4 · answered by kute_regina_gal 4 · 0⤊ 0⤋