Things You Need to Know About Disputing a Credit Card Error
Credit Card Disputes Aren't Always Cut and Dry
Many of us take comfort in the fact that our credit cards are safe to use. If we receive an unauthorized or improper charge, we can simply dispute it, right? Unfortunately, many consumers don't understand that there are limits to credit card disputes. Here's what you need to know.
First Things First
Before you dispute any charge, make sure that the charge is actually fraudulent. This may mean contacting your credit card company to get contact information for the party who charged your card. Sometimes a business you bought from will show up on your credit card under a different name. If you dispute the charge, it can cause undue headaches for the company and may make you look bad.
Once you've determined the charge is definitely unwarranted, it's time to dispute the charge on your credit card.
Time Is Of The Essence
It's important to understand that timing does matter when it comes to credit card disputes. If you don't report the error within 60 days of the date the statement was issued, you're out of luck.
That's why I always suggest reviewing your statements closely each month. You don't want to wait a few months only to realize there was an error and it's too late to do anything about it.
Make Sure It's In Writing
While many credit card companies allow you to dispute charges over the phone, I always suggest a follow-up letter so there is something in writing. The FTC also suggests sending your request in writing and offers a sample letter on this page of their website.
Remember, your credit card company has measures in place to protect you. Keeping th above information in mind, paying for purchases with your credit card can be much safer and easier than paying by check.