Credit card fraud-who pays?

[yashin]

Have just got my new credit card.  Don't like them really but it is pretty much essential when you want to  travel i find. 

I recall in some countries (UK for example) -they say that if you are a victim of CC fraud then you will not be liable to pay.  So if your card is cloned in a shop or you purchase online and are a victim then you will be covered.

My new card does not say any such thing (its Malaysian).  I can't find any info in the contract either-I am especially worried as Malaysia is thought to be the CC fraud capital of the world!!  Even large shops, popular stores are thought to be risky.  This has got me worried.  If i am a victim of CC fraud-who pays?  Visa?  Mastercard?  Or me?

(yes, i know the simple answer is pay by cash but thats not always so easy when buying a plane ticket or booking a hotel)

[orbital]

It depends on the type of fraud, but in most cases you will be creditted even if takes some time 

I once had someone withdraw cash from an ATM machine with my card, my card actually never being lost or stolen  They not only cloned the card but somehow got my pin number too (it was a debit card) 

I think American Express is the best credit card (except not being an actual credit card  ) when it comes to customer service and fraud protection. It is the only card I use for online purchases.

[tjguitar]

I think American Express is the best credit card (except not being an actual credit card  Grin

Since when is AmEx not an "actual" credit card?

[head-case]

Since when is AmEx not an "actual" credit card?

The American Express card is not a credit card, it is a charge card.  They will not loan you money, they expect you to pay your bill in full each month.

Regarding fraud protection, there are laws which mandate this in the US, and probably in many other counties. I have no idea what the laws are in Malaysia, but I find it very surprising that this information is not disclosed in the credit card contract.

[Iago]

The American Express card is not a credit card, it is a charge card.  They will not loan you money, they expect you to pay your bill in full each month.

Yeah, but if you don't fulfill their expectations they DO NOTHING ABOUT IT. They don't charge you interest and they don't ruin your credit. Especially if you've been a prompt payer up until then. I once owed AE, $750 bucks for expenses incurred on a vacation (about 20 yrs ago). I was particularly short on cash that month and will NOT under any circumstances use my savings accts to pay a charge or a credit card bill.  I sent them $250 bucks. They said nothing, and I said nothing. On the next bill, an unpaid balance of $500 appeared along with that months charges. Again I sent them $250 bucks and nothing was said. This continued until the entire indebtedness was paid. AE is a reasonable company and doesn't allow its "bloomers to get soaked" when a good customer is slightly in arrears.
That was 20 years ago. I doubt if things have changed. Although they may have. Alternatively you could declare bankruptcy and pay NOTHING.