How to Handle a Credit Card Dispute
If you had to fight a charge on your credit card, would you know what to do?
It is important that you understand how to handle a credit card dispute so that you won’t be caught in a fight that you can’t handle.
Let’s assume that you made a purchase at a local department store and paid for it with your credit card. When you receive your credit card bill you notice that the department store charged your card twice for the same purchase. Now what do you do?
Under the Fair Credit Billing Act, you can file a dispute with your credit card company to have the charge removed. It may take a bit of time on your part, but you can get the charge removed if you know which avenues to take.
- Your first point of contact should be the department store that double charged your purchase. Bring the credit card statement with you and ask them to remove the charge. Chances are they will comply. However, if you have no luck with this approach, consider making a complaint, in writing, and send it as proof to the merchant. Remember to send the complaint via certified mail so that you have proof that it was received.
- If you still have no luck with the merchant, your next step should be to contact your credit card company and file a dispute. Most credit card companies will want you to submit this dispute in writing. It is important to understand that most credit card companies will only entertain a dispute if it is filed within 60 days of receiving your statement. You may be asked by the credit card company to provide them with proof that you attempted to resolve the dispute with the merchant, which is why sending a dispute letter to the merchant, via certified mail, is so important.
- The credit card company, once they receive your dispute, will contact the merchant directly to get specifics regarding the charge. If the credit card company finds that the merchant made an error, the charge will be removed. If the credit card company determines that the charge was not made in error then you will be responsible for the charge.
- The Fair Credit Billing Act specifies that a dispute can only be made with your credit card company if the charge was over $50, and that the merchant must be located in your state or within 100 miles of your billing address.
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