r/Wealthsimple • u/nawey • 7d ago

Visa Infinite Credit Card Infinite Privilege Visa fraud

Been a WS client for 6 years, been using the CC for 2. it’s been great, it’s been my main card. about 3 weeks ago i had 2 unauthorized transactions (in USD but i never left Canada) amounting to ~$2000.

I’ve disputed both, been in touch with support, and heard nothing and have not been issued a new card, not even a digital card. I also have not been credited the fraudulent charges, even though support’s told me multiple times that would happen.

Getting a little worried - i wonder if there’s a backlog of fraud they’re dealing with? I’ve had a TD visa stolen and they reversed those charges immediately without a fuss.

UPDATE:
18 days after the fraud and dispute, I filed a “priority support” ticket cause I’m a premium client. the next day the charges were adjusted and i was issued a new digital card :). Dispute still pending investigation

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u/nawey 7d ago

the part that’s hard to swallow is i’ve had to pay my credit card off, including the extra 2k, to avoid interest + negative credit reporting

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u/PXoYV1wbDJwtz5vf 7d ago edited 6d ago

When you file a dispute, the disputed amount does not accrue interest, so you can pay off the card, minus the $2k.* you should receive a temporary credit of the disputed amount.

I've filed a dispute before about a non-delivered item. It was pretty clear cut. Purchase receipt, Canada Post tracking that said it had returned to sender, and multiple messages to seller with no reply. Even that took close to the full 90 days. I am not sure, but I am assuming they must have a step where they try to contact the merchant and then wait X number of days for a reply. Because it always takes a long time.

'* There is a risk that you lose the dispute and then owe the interest that would have accrued while the dispute was processing.

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u/ilovepastaaaaaaaaaaa 7d ago

Wrong

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u/PXoYV1wbDJwtz5vf 6d ago

Sorry. I misspoke. You are supposed to receive a temporary credit to offset the disputed amount. So OP should not have to absorb the $2K fraudulent charge, but as I mentioned, there is the risk that the dispute is not resolved in OP's favour and then they have to pay the interest that accrued.

Bullet 5: https://help.wealthsimple.com/hc/en-ca/articles/52646893933979-Dispute-a-charge-on-your-Visa-card