liability terms-of-service consumer-protection credit-card
What is the timeframe for Mastercard&#39;s &quot;zero-liability&quot; policy?
<p>Other types of transaction disputes such as &quot;product not received&quot; has a clear reporting timeframe of 120 days or 540 days. That is, the consumer is usually protected only if the report is made within 120 days for most cases.</p>
<p>I've checked the terms and conditions from <a href="https://www.mastercard.com/global/en/personal/get-support/zero-liability-terms-conditions.html" rel="nofollow noreferrer">Mastercard official website</a>; however, no time limited is detailed there.</p>
<p>I wonder if there is a <strong>detailed Mastercard zero liability policy t&amp;c</strong> preferably with details about the timeframe of &quot;zero-liability policy&quot;.</p>

<p>Only Mastercard can answer with any degree of certainty what their policy is any why they haven't advertised the time limits, but <a href="https://www.reuters.com/article/us-credit-mastercard-debit-idUSKBN0EF1CB20140604" rel="nofollow noreferrer">this article by Reuters</a> summaries the US Federal law at <a href="https://www.law.cornell.edu/cfr/text/12/1005.6" rel="nofollow noreferrer">12 CFR § 1005.6 - Liability of consumer for unauthorized transfers</a> by saying...</p>
<blockquote>
<p>...if you report the loss within two days, federal law caps consumer responsibility at $50. If you report it within 60 days of receiving a statement that shows the fraudulent transactions, liability is capped at $500. If you don’t report it within 60 days, that liability is unlimited.</p>
</blockquote>
<p>And they comment that...</p>
<blockquote>
<p>...Most credit card issuers, however, <strong>set the cap at zero.</strong></p>
</blockquote>
<p>(I haven't repoduced the legislations's text as the quotes from the Reuters' article does a good job of summarising it, although at the expense of some detail and precision.)</p>
