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  1. #1
    japanjapan is offline Member
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    Default liability and unauthorized charge

    Dear teachers,
    Now I am reading an article about internet shopping security and it tells some consumers' credit card numbers were stolen and the hacker publicized those number. It writes " In terms of the actual consumers, their liability is at most $50 or zero. In general, credit card holders are only responsible for up to $50 of any unauthorized charge."

    My question is that what "liability" mean here? does it mean "responsibility" or "loss" or anything else?
    The company lost the numbers, will consumers lose/pay $50?
    What does unauthorized charge mean?

    Please help
    thanks a million!

  2. #2
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    Default Re: liability and unauthorized charge

    I am currently reading an article about Internet shopping security and it says some consumers' credit card numbers were stolen and the hacker publicized those numbers. It writes: " In terms of the actual consumers, their liability is at most $50 or zero. In general, credit card holders are only responsible for up to $50 of any unauthorized charge."

    My question is, what does "liability" mean here? Does it mean "responsibility" or "loss" or anything else?
    The company lost the numbers, will consumers lose/pay $50?
    What does unauthorized charge mean?

    'liability' means being responsible for something, such as a debt. If someone steals my credit card and runs up charges of hundreds of dollars, do I have to pay (am I liable/responsible) for all of that amount to the credit card company? Fortunately no. Crredit card companies limit a person's liability in the event of fraud, and in this case, it is to 50 dollars.

    An 'unauthorized charge' is any debit made to your credit card for a purchase or payment of a service you did not ask for or solicit. That includes any fraudulent charge to the card.
    Last edited by David L.; 24-Mar-2008 at 07:25.

  3. #3
    banderas's Avatar
    banderas is offline Key Member
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    Default Re: liability and unauthorized charge

    Quote Originally Posted by David L. View Post
    I am currently reading an article about Internet shopping security and it says some consumers' credit card numbers were stolen and the hacker publicized those numbers. It writes: " In terms of the actual consumers, their liability is at most $50 or zero. In general, credit card holders are only responsible for up to $50 of any unauthorized charge."

    My question is, what does "liability" mean here? Does it mean "responsibility" or "loss" or anything else?
    The company lost the numbers, will consumers lose/pay $50?
    What does unauthorized charge mean?
    what "liability" means here

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