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MLE · #1

I have a purchase from a company which I know is doing a lot of fax-in and phone orders (mine was faxed). The original purchase price was 1144.80, but I was only charged 114.48. This means they have my credit card and expiration date on file and have the ability to charge me a second time without further contact.

How long do they legally have to correct this mistake before they're legally not allowed to correct it without contacting me?

Fathom Zero · #2

I dunno, but I wouldn't put it past them to have an infinite amount of time to do it so long as you have the property. Check the consumer protection laws in your state or call a consumer advocacy group. I'm sure they would know when it comes to something like this and would be more than happy to help you.

MLE · #3

All I can find is what to do if you've been charged too much. Nothing on if you're charged too little. I'd like to know what the future of my $1k is.

Fathom Zero · #4

I'd make sure you always have it on-hand, then, so you don't end up getting overcharged. Also, it wouldn't hurt to call them and tell them they've erred.

This isn't like winning the lottery - when they find out, they will make sure to hold you accountable. Would you be willing to bet $1,000+ dollars on them not figuring it out?

MLE · #5

They have to go through thousands of special orders in just a month. I'm guessing they won't see it, to be honest. What I plan to do, unless I see a better course of action, is to allow it to ride out until 30 days past when the item is actually delivered and in my posession. Law states that credit card authorizations only last 30 days. Any claim to money after that has to be in writing, so I'd have a heads up.

After 30 days, I'd contact my bank and let them know and ask for their suggestions as if I'd just noticed the error. In any case, I'll keep the funds readily available until this point.

Fathom Zero · #6

In that case, I would say that's the best option, then.

k0k0 · #7

It's a moral quandary. I personally lie, cheat, and steal. One time, I knew I was going to be filing for bankruptcy due to my house being foreclosed and cards charged from my ex who had just left me. My car needed a new transmission, so I loaded it onto a card that I new I wouldn't be paying back. I also bought a few other items since, well, fuck it. Then I filed and stuck it with the credit card company. I know I'm an awful person.

I've also had people steal from me, and I hate it, but it happens. I bought a guitar from a pawn shop years ago when I was first learning to play. I wasn't out the door yet when my roommate noticed a small crack in the neck that would probably end up getting bigger. I took it back and asked if I could have a refund because it had a crack in the neck. They said they'd buy it back for 1/4th the price I paid because it had a crack in it. Same dude I bought it from. Anyways, we came back into that shop later that day and ended up shoplifting a bunch of tools worth over 600, so I got my money back with a little more.

Not calling them out on it is stealing, but if you're like me, you don't give a fuck.

MattJack · #8

Depending on the size and the scope of their operations it could go either way. If you really want to be a dick, simply cancel that card and order a new one. They won't be able to get any funds from you and will probably just write it off. However, they could report you to a collection agency and take it even further.

The best bet is to have the funds for a couple of months. If they never charge it, just get a new card and go on with your life. Most large businesses won't go through the headache of suing and chasing such a small sum. They'd rather can somebody, then write it off.

10,000 Volt Ghost · #9

Definitely keep the money in your account so it doesn't overdraft you. Banks like to charge people overdraft fees in the amount of infinity bajillion dollars.

k0k0 · #10

Definitely keep the money in there for 6 months or so. Banks and card companies really like to fuck people over.

That's what happened with my credit card and why I wanted to screw over the company so bad. I was paying a minimum of 50 a month (usually paying 100 them per, so that I could wittle down payments), then after the post office read my writing wrong when I sent in the check, they didn't get it in time so I ended up having to pay 200 minimum because not paying on time upped my apr, which meant they were getting a ton more money per month. It's the reason why I got foreclosed on 5 years ago. Fucking card companies.

kahljorn · #11

CONGRATULATIONS MLE

thats awesome.

hopefully they never figure it out

Colonel Flagg · #12

If they do a lot of mail/FAX/phone order business (and it sounds from your description that they do) they will probably not even notice the error until they do a cycle count and/or account reconciliation. Trouble is that this occurred toward the end of a month, and that's typically when this accounting takes place. Depending on how efficient the operation is, this could be done within a few days, or within a couple of weeks. Either way, you should wait at least that long witn the funds available.

I'm not sure, but I think they need to contact you even if they notice the error within a day or two - I do not believe it is legal to charge a credit card without written or verbal authorization by the cardholder at the time of the transaction. An unreputable business may try to circumvent this, but it sounds as if these guys are on the up and up.

I agree with the moral part of this quandry. You're prepared to pay 1100 bucks, then end up paying 10%, what do you do? If it were me, I would probably call them myself, seeing as it would cause me to lose sleep at night. But then, I'm constantly afraid the IRS is going to come and repossess my house simply because I do my own taxes.