Credit Newsletter
Can credit card company do anything regarding “fraudulent” guarantee?
A stock newsletter is offering a newsletter that guarantees I’ll be making money with their picks. If for any reason, I’m not satisfied with the information, I can ask for a full refund within 30 days.
If for some reason they don’t give me the refund, can I report it to the credit card so that I don’t have to pay that charge? I have this gut feeling that they’ll do anything to avoid giving refunds, so I just want to have a backup plan.
Thanks.
1. Let me explain to you how this works. Some recipients of the newsletter make money. Some lose money. In total more is lost than is made. On average, recipients do worse than they would have done without the newsletter. Some of the recipients (mostly ones who lost money) ask for refunds. Some do not. The company may or may not refund what the recipients who lost money paid for the newsletter, it does not reimburse them for their losses in the stock market. The few persons who do make a lot of money are satisfied and do not request refunds, so the company can keep what they paid.
2. To answer your original question, if you can prove to the credit card company both that you asked for the refund in time (ask in writing, save a copy of your request letter, and get a return receipt from the post office to prove that you mailed it on time and to the correct address) AND that they agreed that you could obtain a refund if unsatisfied (save a copy of their statement that guarantees this), then yes, you can dispute the charge. However, if the statement that you “can ask for a full refund” was oral, then they will probably lie and tell the credit card company that you were told that it was non-refundable.
3. The clue that this company is dishonest is that it “guarantees” that you will make money in the stock market. There is no way (except possible insider trading) to know, for an absolute certainty, that the stock picks will result in a profit.
Credit CRM Conference Video Newsletter – Edward Jamison
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