How I Saved myself from ₹32,000 Scam (Amex Chargeback Experience)

[dexter_greycells]

Let me know your thoughts, things that you liked and didn't like, I would love your feedback and try to make even more informative threads in the future.

The thumb rule of online shopping is that if it seems too good to be true it likely isn't. Also, if a seller / website is unknown that is another reason to stay clear of it.

This post on the other hand suggests that one can get an AmEx and ignore the above thumb rule. People already have an impulse control problem buying and returning stuff, rotating money, trading card benefits, using personal cards commercially and what not. We don't want such people to now start ordering half-priced iPhones in bulk from some shiny website in Timbaktu thinking "Mmm...50% PROFIT! If it works then it is great; if not then I'll dispute the transaction and AmEx will take care of it".

AmEx, with their referral bonus, is unfortunately the Amway of platforms like TF. You can never take a AmEx recommendation from an AmEx holder seriously especially if they are advertising their referral link in the same message. It is classic case of conflict of interest.

Yes, AmEx has above average customer service, they have a higher qualification criteria and they have an aura of being premium (like Apple). For those who have the right spend pattern to meet their monthly milestones and matching lifestyle, their reward structure may be better than a lot of other cards. However, its acceptability is the worse than the Diners cards in India. In India and across the world you will see establishments put up signboards stating "AmEx not accepted". Yes, you will also see "Cash only", "UPI Only" but amongst cards AmEx is the only one singled out.

 

[coolguy1]

The thumb rule of online shopping is that if it seems too good to be true it likely isn't. Also, if a seller / website is unknown that is another reason to stay clear of it.

This post on the other hand suggests that one can get an AmEx and ignore the above thumb rule. People already have an impulse control problem buying and returning stuff, rotating money, trading card benefits, using personal cards commercially and what not. We don't want such people to now start ordering half-priced iPhones in bulk from some shiny website in Timbaktu thinking "Mmm...50% PROFIT! If it works then it is great; if not then I'll dispute the transaction and AmEx will take care of it".

AmEx, with their referral bonus, is unfortunately the Amway of platforms like TF. You can never take a AmEx recommendation from an AmEx holder seriously especially if they are advertising their referral link in the same message. It is classic case of conflict of interest.

Yes, AmEx has above average customer service, they have a higher qualification criteria and they have an aura of being premium (like Apple). For those who have the right spend pattern to meet their monthly milestones and matching lifestyle, their reward structure may be better than a lot of other cards. However, its acceptability is the worse than the Diners cards in India. In India and across the world you will see establishments put up signboards stating "AmEx not accepted". Yes, you will also see "Cash only", "UPI Only" but amongst cards AmEx is the only one singled out.

Appreciate the feedback! And I didn't want it to make it look like - buy whatever crap you want at dreamy prices throwing all your money at scammers and then cry for help to AmEx cause it does help.

This was more of a post to suggest buyers to use an AmEx card at places where the seller could be shady or looks suspicious.

Imagine buying a customized gift that your wife/girlfriend saw on Instagram and really need to buy. You obviously can't tell her no because she wants it.
After placing the order, a month later, you realize the order never got delivered.

What now?

If instead of UPI/other bank cards, the person paid with an AmEx card, there's at least some chance that their money could be recovered.

If someone is okay losing their money on transactions and doesn't want to get AmEx just because of a referral link, that's fine by me lol.

Obviously, it's not perfect and not accepted everywhere but when it does, I swipe it worry free knowing my money is safe.

 

[tachniki]

wife/girlfriend saw on Instagram and really need to buy. You obviously can't tell her no because she wants it.

I may be old school. But buying on Instagram is definitely no, doesn't matter who ask. Not with any of my payment instruments. Amex or anything else. Buying from Instagram is like buying from ferriwala. Ferriwala atleast deliver immediately. I usually do not even consider buying from non prime seller from Amazon.