##Question_Title## Liability on Unauthorized Charges?

Question

This is another finance questions.

I have noticed that a lot of credit card companies offer '$0 Liability on Unauthorized Charges' which states: 'Shop anywhere and never lose a penny on unauthorized charges. With $0 Liability you won't pay for any unauthorized charges made on your Citi credit card.' (Taken from the citi website); however, I am unclear as to what this really means.

Does this mean that I if there is a charge made to my card and I say 'I didn't buy this!' they will get rid of it?

How exactly does this work?

Answer 1

You are correct.  If unauthorized charges appear you are not responsible.  

Answer 2

When you discover a charge on your bill that you do not recognize, you have to call the credit card company immediately.  Citi card will temporarily remove the charge from your account and initiate an investigation.  You can presume the charge is removed at this point.  

Citi card will contact the vendor and obtain more information about the purchase.  If proven then there is nothing else to be done.  Occasionally, they might come back to you for questions.  

If they prove that you actually made the purchase, then the item will be put back into the account as originally posted, and you might owe finance charges.

Best wishes.