Anybody have to go to manditory arbitration?

**Farbmeister** · November 14th, 2007, 06:58 PM

This is a new twist I've read about. Anytime you get into a dispute with your credit card issuer they have mandatory arbitration clause in your agreement.

I got my card back in 1997 so I don't think I agreed to it, but the stats are grim... 96% of the time the arbitor sides with the CC company.

Anyone get that far into the process and have to deal with it?

**PisnNapalm** · November 14th, 2007, 07:50 PM

Anytime the CC company sends you an update to the "Agreement" you "agree" to it by default by NOT canceling the credit card.

**Farbmeister** · November 15th, 2007, 02:33 AM

Not what I was after.

The grim stat that LOSER pays, and the CC co PICKS the arbiter. And also that every study has shown that 90+% of cases are in the CC co's favor.

That is a statistical anomaly that tells me that the arbiter, who has to be on the CC co's good side to keep getting cases has it in their interest to keep the CC co on the winning side.

One report showed that an arbiter settled like 68 cases in 8 hours, or one every 7 minutes, for a fee over over $1000 per case. EVERY CASE was decided in the CC co' favor.

These judgments are binding, sealed and non-reviewable. They just show a judge 'hey, an arbiter said we should win.. so should you!'

**PA Rifleman** · November 15th, 2007, 10:02 PM

Sounds like you might want to review your choice of card provider. Ours won't pay out if we aren't happy. They do arbitrate, but we've always had a satisfactory resolution the few times we had trouble.

The last one I recall was faulty merchandise -- a vendor shipped a bullet mold without handles that was part of a larger order. They agreed to include handles since I knew regular mold handles couldn't possibly fit this mold (very large bullet). Called them up, nicely asked for handles, they refused to ship...said they were a standard size, get 'em anywhere...don't be so picky...you've heard the rest of the excuses. CC provider pulled the entire amount and returned it to us. Whole order was now free.

Mold was custom made, never did find handles. [8^(

**MarcS** · November 15th, 2007, 10:32 PM

Originally Posted by PisnNapalm

Anytime the CC company sends you an update to the "Agreement" you "agree" to it by default by NOT canceling the credit card.

your credit card company can change the terms of your credit card however and whenever they want. The only way to win is to ignore the rates and all that other bullshit and just pay it off in full, on time. If they change it in a way that you find unacceptable, cancel it and get a different card.

When citibank reduced my rewards, i canceled their card and went with chase. plenty of choices out there

**Michele** · November 15th, 2007, 10:34 PM

Originally Posted by MarcS

When citibank reduced my rewards, i canceled their card and went with chase.

I did the same exact thing!

**carterbeauford** · November 16th, 2007, 09:53 AM

curious what circumstances would get you in this situation in the first place? I've had several fraud disputes with GM card and they were all decided in my favor. got me out of a $2000 junk Mac laptop because of Apple's you can't actually return anything you buy from us policy.