Claim: Credit card users may be eligible for refunds of $25 or more from the settlement of a class action suit over foreign currency conversions.
Example: [Collected via e-mail, December 2007]
I received an "official looking" packet in the mail detailing how I can get $25 back in some type of civil law suit against credit card companies. They refer to the web site above for any questions.
All I have to do at the end of the packet is provide my credit card # and bank and they will take care of figuring out how much I get back.
Did not see this on your web site. I strongly suspect it's a hoax. Fits in with anyone asking crazy information like that.
Origins: In 2006, a $336 million settlement was announced in a
CCF (Currency Conversion Fee) class action suit alleging that Visa, MasterCard and Diners Club brand credit cards overcharged customers when foreign transactions were converted into dollars and failed to properly disclose the fees involved in those transactions.
Beginning in November 2007, some
Customers have three refund options to choose from: a simple $25 refund, a "total estimation refund" of 1% of estimated foreign transaction activity, or an "annual estimation refund" of
American Express is not part of this settlement, as a separate case against that company is still pending.
|$25 Credit Card Refund Isn't a Scam (MSN Money)|
Last updated: 3 January 2008