if your credit card is stolen and the thief runs up a total of $1,000, but you notify the issuer of the card…

if your credit card is stolen and the thief runs up a total of $1,000, but you notify the issuer of the card as soon as you discover its missing, what is the maximum amount you could be held responsible to pay? a. $100 b. $50 c. none d. $500

if your credit card is stolen and the thief runs up a total of $1,000, but you notify the issuer of the card as soon as you discover its missing, what is the maximum amount you could be held responsible to pay? a. $100 b. $50 c. none d. $500

Answer

Brief Explanation:

Under the Fair Credit Billing Act in the United States, if a credit - card holder notifies the card issuer promptly (as soon as they discover the card is missing), the maximum liability for unauthorized charges is $50.

Answer:

B. $50