It doesn't cost the credit card company any money to to a chargeback, they just shaft the merchant whether the chargeback is legit or not. It's not like the merchant is ever going to stop taking Visa or Mastercard -- they'd lose way too much business. On the other hand, consumers are much more likely to switch credit card vendors if they get a better deal or better service elsewhere.
It is very possible though that doing this will result in blacklisting of your name/address/card from their systems. You generally don't want to do a chargeback on a merchant you ever want to deal with again at some time in the future.
