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February 2,2009

  • Credit Card Disputes (101), Pt.2
     – Learn the regulations and constraints.


    One of the first and foremost rules in building a credit card dispute case, of course, is good documentation. Get everything in writing. Goes without saying, save all those receipts and demand delivery details in writing. Save these, just in case. Also, solicit merchant commitment as to what kind of results to expect (like delivery date and conditions). It's also important to know the rules that are in place concerning credit card dispute regulations and guidelines. Although every credit card holder has the right to dispute charges, there are some constraints that go along with that.

    • Payment on a credit card charge can be withheld for a time but, during that time, the consumer is required to deliver the dispute in writing. Sixty days is all they get, from the time the first bill arrives. Frivolous and menial cases don't usually get far, so don't expect to get much help if the charge is under $50.
    • Also, distance can make a big difference. It helps if the credit card transaction takes place within 100 miles or, at least, takes place within the state of the card holder's billing or mailing address.
    • Individual state mandates vary here and these carry sway. So, when transactions take place on-line or by phone, the rules can be largely based on where the consumer places the credit card charges from.
    • During the course of the dispute, the consumer will not be accountable for the credit card charges and no finance charges will be tacked on. But, be advised, if the dispute outcome is not found to be favorable, the credit card lender will usually allow a short grace period and then will tack on all those back finance charges, dating back to when the dispute was filed. So, it's very important to work closely with your credit card lender in order to be ‘on the same page' and, also, to try and strike favorable terms of protection before this becomes an issue.

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