That's generally correct, but when I've disputed relatively minor charges Cap One has basically told me they're giving me a courtesy credit rather than going to the expense of asking the merchant to justify the charge (e.g., double charge for a coffee or something). Presumably they've done the cost/benefit on it and for disputes below a certain amount (and probably if not a frequent issue) they don't bother because of the processing costs. I have no idea what the algorithm is they've used to determine break even, or whether it's different for Chase than Cap One.