Bubba
Jun 15, 2004, 8:07 AM
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Credit Cards Issued by Mexican Financial Institutions
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I decided to apply for a credit card at couple of Mexican banks. One can do so even if retired with the proper documentation proving residency here and with good credit references and income flow. These would have been backups to my American Express Card to be used only occasionally.
Then my wife informed me that she had heard that the cardholder of a credit card issued in Mexico by a Mexican bank was liable for any and all fraud chages which might be incurred without limit if that cardholder's card were lost or stolen. This whether the card was issued as Master Card or VISA. If that is the case, no way I'm carrying one of those around with me. The limit on fraud charges under U.S. issued cards is very important if my wife is correct.
Has anyone here had experience with this or researched this issue?
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