The thing that you're missing is the fact that most of the companies doing rebills/continuity programs are much savvier than you would think about protecting themselves in terms of charge backs and such with multiple merchant accounts (and by multiple, I mean *alot*). VISA/MC really have know way of clearly distinguishing whether your a scummy rebill or a legitimate one if the merchant is intelligent enough to spread stuff around.
no, I'm not missing anything...
I know all the ins and outs of chargeback leveling...
visa knows a lot more than you give them credit for... they aren't stupid...