Consumer complaint received 2022-04-25
Company: DISCOVER BANK
State: TX
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
XXXX XXXX XXXX XXXX XXXX # XXXX XXXX, TX XXXXXXXX Discover XXXXXXXX XXXX XXXX XXXX XXXX XXXX, UT XXXX Re : Investigation update on XXXX Regarding disputed charge to Account No. XXXX Dear Dispute or Billing Inquiries Division, This is XXXX XXXX, Customer with Discover  Card No. XXXX. I am writing to appeal against your decision to go in the favor of the Merchant in the Dispute Case number XXXX. Before that I would want to share with you further details on what was the service that I signed up and what was delivered to me. 
Service that I signed up for : XXXX XXXX, employee of XXXX offered me a private service offering called XXXX XXXX for {$50000.00} that offered following features ( Please see the screenshots ) a. 2x-5x returns per month b. Capital will be safe c. Loss in case of compensation What Happened : Very First service alert of the XXXX XXXX resulted in a loss of {$67000.00} Denied any compensation Requested for Refund Only to be blocked Reason for requesting charge back : Service that was sold to me vs Service that was offered to me are completely different. 
Thus, I believe The Fair Credit Billing Act ( Act ) is a XXXX federal law designed to protect consumers from unfair credit billing practices and would like to request my rights be protected Reasons for Appealing against Discovers decision : During the initial investigation of the dispute, response from the Merchant was that I made $ XXXX on XXXX and XXXX on XXXX XXXX Is not true as I made XXXX on XXXX XX/XX/XXXX on XXXX and XXXX of XXXX  on date XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX on Annual Membership ( {$1500.00} ) which was bought on XXXX XXXX on XXXX website while Payment for XXXX XXXX was completed on XXXX XX/XX/XXXX, it is neither a service offered on XXXX nor under orders page of XXXX. For your Reference attached are the screenshot and 1099 document will be uploaded to discover dispute portal XXXX  : XXXX  : During the second investigation of the dispute, response from the Merchant was that they have no refund policy and thus, discover decided to go in the favor of merchant which I disagree due to following facts : According to XXXX  website : SUBSCRIPTIONS XXXX XXXX Membership subscriptions grant you access to receive stocks signals. Payment will be charged to ccount at confirmation of purchase. We will notify you if the price of a Paid Subscription increases and, if required, seek your consent to continue.The products are provided in form of data information service. No refund is available. 
Reason for Disagreement is XXXX XXXX which was offered to me is not service or subscription on XXXX and here is the screenshot : Payments made to XXXX XXXX  is not even listed on order page on my profile, only annual subscription is listed As mentioned previously, it was offered to me on the chat by their employee. Here is the screenshot of the same below. Thus, I believe stock-sight.com terms can not be applied to product or service that doesnt exist on their website. 


Continuing the XXXX terms on Payments *XXXX  XXXX only accepts payment through two channels : its official website XXXX  and XXXX XXXX app. For your property safety, please do not transfer money to personal accounts to avoid frauds. In case of running into wrongdoers, you can timely report to XXXX. 
As you can see XXXX XXXX website says it only accepts payments via two channels i.e. through the website or app. In case of payment for XXXX XXXX, its employee asked me to transfer money to an individual called XXXX XXXX which even the employee confirmed that it belong to XXXX XXXX in the chat which is a violation of their own terms. ( XXXX Search results for the email shows up XXXX XXXX XXXX XXXX XXXXXXXX? XXXX % XXXX ) Violation report to XXXX  and chat conversation with another employee, XXXX : As shared in some of the previous documents, many customers have been duped in the similar manner by XXXX XXXX and they have reported these incidents to XXXX and XXXX, an employee of the XXXX has been asked to collect the evidence and submit it to the management. 






So far, no customer has received refund nor service, which authorities have also confirmed to be a scam as many other customers have also been swindled of their money in the same way. 
In my Case, I have filed a report with XXXX Police with Case XXXX, Reported to FTC with report no. XXXX, XXXX  Submission Number XXXX ( XXXX referred us to XXXX  XXXX ) ( All the copies enclosed ) Coming back to Dispute : FACTS I was offered investment services through a XXXX XXXXbased firm called XXXXXXXX XXXX XXXX  XXXX  employee a XXXX XXXX XXXX. As indicated by one of the Company 's employees, it was offered, agreed and guaranteed in chat that I would get 2 to 5 times the principal amount as profits from the investments, and that I would receive the principal amount even if there were any losses. I on the other hand, did not obtain the promised returns and did not receive the main amount from the Company. I Paid to the investment through a variety of payment methods including XXXX XXXX end with XXXX. Thus, I would like to request for a charge back on this transaction based on Fair Credit Card Billing Act of XXXX. 
What is the Fair Credit Card Billing Act XXXX? 
The Fair Credit Billing Act ( Act ) is a XXXX federal law designed to protect consumers from unfair credit billing practices. 
The Act outlines the rights as a consumer to dispute items like unauthorised charges, charges resulting from errors, and goods or services that have not been supplied. 
The purpose of Act is to provide consumers with protection from unfair billing practices, covering " open-end '' credit accounts such as credit cards or charge accounts.

What is the Applicability of the Act?

The Act defines billing errors, to which the provisions are applicable and actions under the Act can be initiated. Therefore, billing errors include the following : A. A reflection on a statement of an extension of credit which was not made to the obligor or, if made, was not in the amount reflected on such statement.

B. A reflection on a statement of an extension of credit for which the obligor requests additional clarification including documentary evidence thereof.

C. A reflection on a statement of goods or services not accepted by the obligor or his designee or not delivered to the obligor or his designee in accordance with the agreement made at the time of the transaction What was delivered to me?

A. A loss of {$67000.00} B. Denied Compensation C. Blocked for asking refund D. No Service Provided thereafter As a result, my transaction falls under sub-section ( c ) of the billing error, giving rise to a cause of action under the Act. 
How is the Act applicable to me & what are the requirements? 
As provided above under sub-section ( c ) of the definition of billing error, the gives the right to dispute charges in case of dissatisfaction with the transaction. I was not delivered the service as promised during the time of the agreement. Accordingly, I have valid cause of action under the act. 
I am requesting Discover to review all the facts and evidence presented and reverse its decision and the error be corrected, that any finance or other charges related to the disputed amount be credited to my account, and that I get an accurate statement. 
Enclosed are copies of Police Report, XXXX  referral to XXXX, FTC Report and XXXX Complaint supporting my position and experience. I urge you to consider all the facts and evidences and provide me with the refund at the earliest. Also, I would like to know why my previous request was rejected under Fair Credit Card Billing Act XXXX. I would like to get written reasons or confirmation for rejection. 

Sincerely, XXXX XXXX XXXX XXXX XXXX # XXXX XXXX, TX XXXX

Company response to consumer: Closed with explanation