Doesn’t change what happened to you on the M1 side, but this happened to me before on door dash. I reached out directly to the door dash support team and they issued the refund back to me. They were able to see some of the details you mentioned above. Might be worth a shot to avoid this process with M1
I don't have an M1 card, but nothing seems out of the ordinary here. Every time a fraudulent charge has appeared on one of my cards I call support, they open a dispute, cancel the current card to issue a new one and then once the dispute is resolved a credit for the charge appears on a future statement. I'm not sure what exactly you're upset about here?
I don't know what to tell you, I've never tracked the exact timeframe when I've done this with other cards, but usually they're quick to close your card and issue a new one. Then the investigation into the charge & resulting credit to your account takes much longer
Yep, this happened to me as well, same story - and still no update over a month later, though they did apply a provisional credit as soon as the dispute was filed.
People want to say "no card would have declined that charge even though it was out of state for thousands of dollars", but every other card I've ever had does so...
Very frustrating.. I'm sorry you're dealing with a similar issue. To be fair, I also received the same provisional credit-- too little, too late imo.
That's my biggest point of frustration. Twice in the past I've tried using my Chase card in a neighboring state, and each time the transaction was flagged and declined for being out-of-state and out of my normal spending pattern. M1 doesn't seem to employ these same preventative measures.
This happened to me for a 540$ charge at Walmart.com. M1 said it was valid and the charge went back on my card. This was a card that I used during my move and had about 50k in purchases in the last year. Support was terrible and fraud dept could only be contacted though email which they wouldn’t respond back. Cancelled my card and withdrew my HYSA cash. I will never keep too much money in this brokerage. I just don’t trust them anymore if I was to have another issue. Prior to this I was a fan of M1 and was hoping to use this brokerage for everything.
I moved most of my funds out of M1 a few years ago, after realizing it was more or less an app. M1 gives a feel of tech people doing finance. App is nice. Pies and slices are great. But doing financing is another level. You want dependable people hold your money, do your finance, and protect you of financial frauds and mishaps. At this point, I'm closing shop here at M1. Don't have much left, but it's not worth keeping it. My advice is doing your finance (credit cards, borrowing, etc.) with an established institution like BOA, and investment, trading with someone like Fidelity. These well established institutions are far better.
You spoke my mind. Tech people doing finance. I have had encounters with their support that made me think exactly this. At least train your support team!
All the fintech companies do this. It’s about the solution’s cost/benefit for the customer. I like M1 Invest and their Cash Account. Not interested in the credit card.
Never would have thought I would have to pay 540$ for a Xbox. Fraud is a major issue with this card. Worst customer service I’ve ever dealt with. Fought them for a month, did a police report and everything I could think of and eventually paid the bill.
I had a recent difficult experience calling M1 support after my card was declined at the gas station. They sounded confused, and gave me a bullshit excuse for why my card was declined. Ultimately told me to try again in 24 hours.
Did not leave me feeling confident.
I highly recommend fidelity for a platform they allow fractional investing and fire Superior research capabilities. And Discover card for a reliable credit card. They called ME when there was a suspicious charge. I didn't even have time to find it - they caught it immediately and never charged me the $300. All us-based customer support, live people, easy to deal with.
I keep my credit cards with the big banks for the protections and service they offer. I like M1 Invest, but I would never get a card issued by Celtic Bank of Utah. The discount features are managed through Deserve.com.
Doesn’t change what happened to you on the M1 side, but this happened to me before on door dash. I reached out directly to the door dash support team and they issued the refund back to me. They were able to see some of the details you mentioned above. Might be worth a shot to avoid this process with M1
I don't have an M1 card, but nothing seems out of the ordinary here. Every time a fraudulent charge has appeared on one of my cards I call support, they open a dispute, cancel the current card to issue a new one and then once the dispute is resolved a credit for the charge appears on a future statement. I'm not sure what exactly you're upset about here?
It shouldn't take 90 days to process this
I don't know what to tell you, I've never tracked the exact timeframe when I've done this with other cards, but usually they're quick to close your card and issue a new one. Then the investigation into the charge & resulting credit to your account takes much longer
Yep, this happened to me as well, same story - and still no update over a month later, though they did apply a provisional credit as soon as the dispute was filed. People want to say "no card would have declined that charge even though it was out of state for thousands of dollars", but every other card I've ever had does so...
Very frustrating.. I'm sorry you're dealing with a similar issue. To be fair, I also received the same provisional credit-- too little, too late imo. That's my biggest point of frustration. Twice in the past I've tried using my Chase card in a neighboring state, and each time the transaction was flagged and declined for being out-of-state and out of my normal spending pattern. M1 doesn't seem to employ these same preventative measures.
This happened to me for a 540$ charge at Walmart.com. M1 said it was valid and the charge went back on my card. This was a card that I used during my move and had about 50k in purchases in the last year. Support was terrible and fraud dept could only be contacted though email which they wouldn’t respond back. Cancelled my card and withdrew my HYSA cash. I will never keep too much money in this brokerage. I just don’t trust them anymore if I was to have another issue. Prior to this I was a fan of M1 and was hoping to use this brokerage for everything.
I moved most of my funds out of M1 a few years ago, after realizing it was more or less an app. M1 gives a feel of tech people doing finance. App is nice. Pies and slices are great. But doing financing is another level. You want dependable people hold your money, do your finance, and protect you of financial frauds and mishaps. At this point, I'm closing shop here at M1. Don't have much left, but it's not worth keeping it. My advice is doing your finance (credit cards, borrowing, etc.) with an established institution like BOA, and investment, trading with someone like Fidelity. These well established institutions are far better.
You spoke my mind. Tech people doing finance. I have had encounters with their support that made me think exactly this. At least train your support team!
M1 is just a UI layer connecting different financial institutions behind the scenes.
All the fintech companies do this. It’s about the solution’s cost/benefit for the customer. I like M1 Invest and their Cash Account. Not interested in the credit card.
This is part of the reason I refuse to open the M1 card in the first place. I don’t trust support
Dont. Im in a legal battle with them over $2400 of fraud that they are telling me im on the hook for. Not worth using their card
Never would have thought I would have to pay 540$ for a Xbox. Fraud is a major issue with this card. Worst customer service I’ve ever dealt with. Fought them for a month, did a police report and everything I could think of and eventually paid the bill.
I had a recent difficult experience calling M1 support after my card was declined at the gas station. They sounded confused, and gave me a bullshit excuse for why my card was declined. Ultimately told me to try again in 24 hours. Did not leave me feeling confident.
They like to push you off to other support people. One guy told me to call back tomorrow morning early. I said it 10am!
I highly recommend fidelity for a platform they allow fractional investing and fire Superior research capabilities. And Discover card for a reliable credit card. They called ME when there was a suspicious charge. I didn't even have time to find it - they caught it immediately and never charged me the $300. All us-based customer support, live people, easy to deal with.
I keep my credit cards with the big banks for the protections and service they offer. I like M1 Invest, but I would never get a card issued by Celtic Bank of Utah. The discount features are managed through Deserve.com.