dcsimg MasterCard, Visa Don't Have to Warn About Stolen Credit Card Information - indexcreditcards.com

Credit Card Calculators

How long will it take to pay off my credit card?

In the News
  • "As comprehensive a list as you'll find of all the credit card offers on the table now."

MasterCard, Visa Don’t Have to Warn About Stolen Credit Card Information

by Peter Andrew
MasterCard, Visa Don’t Have to Warn About Stolen Credit Card Information



Visa Don’t Have to Warn About Stolen Credit Card Information


San Francisco Friday, Superior Court Judge Richard Kramer agreed

that Visa and MasterCard are not required to send warnings to

the 40 million credit card and debit card customers whose information

became vulnerable to a credit card fraudster between August

2004 and May of this year.


the consumer lawsuit targeted Visa and MasterCard, the computer

security breach actually happened at CardSystems Solutions Inc.,

which processes payments on behalf of merchants.


and Visa argued that their “zero liability” policies

ensured that any fraudulent charges would not be the responsibility

of the affected cardhholders. The credit card networks also

implied that any warnings sent out might be the responsibility

of the card issuing banks, as the credit card holders are technically

customers of the banks, not of Visa or MasterCard.


200,000 consumer credit accounts have experienced some level

of fraud due to the information theft.

Disclaimer:The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.

Published  (Modified )

Share this article with: