Uh.. actually.. it's not cancelation lah.
The credit card companies.. have buyers protection policies.
They allow customers to dispute the charges.
They will try to hold back the payments and charges until the
disputes gets settled, and mediation/investigation will be carried
out.
Different credit cards has different policies.
This is how they compete for customer market share. By offering
better services, most consumers will choose to use their prefered
card.
Since the credit card companies charges a certain percentage to
the merchants, they want consumers to swipe their own card instead
of the others.
American Express has the best policy in the USA. I'm not sure
about credit companies in Singapore. Since.. in Singapore it's
always buyers own risk culture. Very unlike US.. where refund
policies are very lenient.