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24 November, 15:07

For a business credit card, most companies that issue credit, including Visa and Mastercard, specifically state their liability policies:

Only cover the first $50.00 of liability

Cover up to $500 of liability

Are the same as their business card accounts

Do not apply to business card accounts

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Answers (1)
  1. 24 November, 15:12
    0
    Answer: Cover up to $500 of liability

    Explanation:

    When one suspect that there has been unauthorized transactions in ones accounts which could be due to fraud, such business or person can make a complaint as soon as possible.

    As soon as the report is made, the person is no longer in charge of the unauthorized use of such card. In a case whereby the loss is reported within two days, the liability is limited to $50 but when the report is made within 60 days after ones statement has been sent to the person or business, this may lead to a liability of $500.

    Cover upto liability of $500. If the report is made within 60 days of receiving statement that shows fradulent transactions. If it is not reported within 60 days then the liability is unlimited.
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