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Re: RCI Innovations Inc. (by Rich C.):

Exactly. This is one regulation that you or YOUR BANK does not know about. However this is not your banks policy. This is VISA and MasterCard's policy and if the card that your bank issued you bears the VISA or MasterCard logo then they MUST abide by VISA and MasterCard's policy ultamatly. This "loophole" can be found in VISA (MC) Global Dispute Resolution under VISA chargeback reason code 30: Services not Rendered (same applies for MC under RC: 4859 SNR) although I have been succesful using RC 53: Services not as Described as well. These are the basics of the rule: If you (the consumer) pays for a service (sale of TS) the the previous time limit for dispute is 120 (I dont care what you bank says, 120 days not 30 days. end of story) calendar days. If goods or services were to be delivered after the transaction date you can place your US Domestic dispute any time within 120 days of the most recent date that you expected to recieve the service from the merchant wich may not exeed 540 days. Foe example RCI contacts you on 1/10/2010 and garuntees the sale of your unit on 4/23/2010. 4/23 comes around and the buyer fell through.......this keeps on happening until 12/3/2010. So 12/3 was the last expected date of service. you HAVE chargeback rights and yes the bank will try to prevent this. That is what thier reps get paid to do but unfortunatly for them the signed a contract with VISA/MC agreeing to play by thier rules and they are responsible for the charge. and yes eventually the TS resale company will be responsible for it. If your bank does not play ball then ask for a supervisor and threaten them with the OCC. GO GET 'EM

-Rich

P.S. on one occasion i won a dispute from 2008 just a couple of months ago with Capital One so it is worth a try.