Important Facts about Fighting Fraudulent Credit Card Charges
Most creditors offer some protection against fraud and identity theft, but this protection is not all-encompassing. In other words, there are a certain set of rules to which you must abide to be covered by your creditor for fraud and identity theft.
For example, there is a recent story about a Denver man that paid on his credit card religiously, every month, for the same amount. Because of this, he rarely looked at his monthly statement; he just simply sent in his fixed payment. That’s all fine and dandy, but what he failed to do was realize that a credit card thief had managed to charge upwards of $11,000 on his credit card. Because the Denver man failed to realize these charges in 60 days, as required by the creditor, he was, in the end, responsible for all those charges.
Although most fraudulent charges or mistakes to your credit card account will be considerably much less than the Denver man’s $10,000 bill, they can still sneak onto your bill when you’re not looking. Don’t be caught paying for someone else’s mistake or fraudulent activity. Take charge now and fight back against fraudulent charges!
What you can do to protect yourself against paying for fraudulent charges on your credit card:
- Always, always, always carefully read your monthly statement. Just the like above story, if you fail to notice fraudulent charges on your card in the time frame set forth by your creditor (usually 60 days) then you, too, could be responsible for any charges on your card.
- Contact the merchant directly if you notice a discrepancy on your credit card bill. Often times, discrepancies on your credit card are simply mistakes. If you are unable to find a resolution to your problem with the merchant, contact your credit card company.
- If you find yourself in a situation where the merchant is denying a mistake, you will want to provide documentation to plead your case. Keep all receipts, email and tracking numbers and submit them with your dispute to your credit card company.
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