When you use a "corporate" or "business" credit card that is still personally guaranteed, just like a personal credit card, you sacrifice a tremendous amount of legal protection. I am looking for case law that shows that a corporate card that has been used for personal purchases can have the "good faith stop payment" protection otherwsie afforded by the Truth in Lending Act. To clarify, when you use your personal credit card to make a purchase for goods or services within your home state and the purchase price exceeds $50, you have the right to dispute the transaction and not pay it if you have contacted the merchant and made a good faith effort to resolve the dispute before you pay the credit card bill. By law, the bank MUST refund your money. I did not realize that a "corporate' cardholder was not explicitly protected by the Truth in Lending Act. However, I understand there is precedent where a "corporate" cardholder used the card regularly for personal purchases and then disputed a personal transaction. The bank would not refund his money. The customer sued the bank and won. If anyone can direct me to this case I would be most grateful. TIA, Mike BTW, a must read, IMHO, is "What Every Credit Card User Needs to Know" by Howard Strong. It primary deals with credit card laws from a consumer protection standpoint rather than a credit/bankruptcy protection focus, but I think everybody needs to read this. It's ten bucks well spent.
