May 13, 2010
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News: How To Dispute A Credit Card Charge
If you haven't yet had to dispute a credit card charge, chances are you will sooner or later. When that time comes, you'll want to be prepared. For whatever the reason whether it be an unknown charge or a an issue with poor service or a defective product, you'll want to begin at the place of business. You'll need to get organized. If you are disputing a service or product that is unsatisfactory, gather your thoughts on what they promised and what they delivered. Speak to the store manager and try to resolve the situation. If the business refuses to credit your debit or credit card, the next step is to contact the debit or credit card company. Gather any related receipts and write notes as to the date and times you contacted the merchant and details of the conversation. Next, write down what the charge is and why you believe it is in error.
The bank will record all the necessary information regarding the disputed debit or credit card charge and instruct you on how to handle payment of your bill. Most lenders tell consumers not make any payment toward the principle and interest of the disputed charge during the process. If you prefer, most lenders provide access to forms online to dispute forms. If you are not able to download and print the forms, the bank will mail them to you. Follow all instructions on how to complete the form and what documentation required. Be sure to complete the form and mail it along with all the requested documentation by the given deadline. The Fair Credit Billing Act (FCBA) specifies that you must dispute credit card charges within 60 days in writing. Don't let the time slip away.
The more organized and thorough you are in completing the required forms and providing the requested documentation, the quicker your debit or credit card company can resolve the issue. You should also become familiar with the FCBA rules so that you have a clear understanding of the boundaries of protection. If the dispute is disallowed by your bank or lender, your next option is to file a complaint with the Federal Trade Commission or personal lawsuit against the merchant.