Errors are inevitable. When they do happen, knowing how to solve them can save you money and time. Follow these five steps to dispute incorrect charges or commissions.
It’s common to encounter mistakes in your credit card statement or transactions. When you face such situations, it’s essential to know how to resolve them to avoid unnecessary expenses or wasted time. Here’s a detailed guide on how to dispute any false charges or expenses in your credit card statement.
Check your credit card statement each month
The only way to find errors is to review the charges and commissions carefully. Compare your initial balance with the previous month’s bill. Also, look for anything unknown, such as “complementary” or optional products, that have charges. Look for any discrepancies or errors, such as unauthorized transactions, duplicate charges, or incorrect amounts. You should compare your starting balance with the previous month’s bill and look out for any new items, including add-ons or optional, charge-based products.
Call the customer service number
This number is on your monthly bill or the back of your card. Explain what is wrong with your statement. The credit card company should listen to you and examine the problem. If you notice any issues, the next step is to contact your credit card company’s customer service. Explain the issue with your account, providing as many details as possible. Be sure to identify the specific transactions or charges you want to dispute and explain why you believe they are erroneous.
Follow up with a letter
Send a written notification to the charge card organization as soon as possible to secure your legitimate rights. Your bill contains directions on how and where to send this notification. Present your written notice no later than 60 days after the lender sent the explanation where the blunder initially showed up. Keep a duplicate of your letter as proof that you have kept in touch with the credit card organization.
Credit card companies cannot:
- If you pay the undisputed remaining amount on time, report your late payment to a credit agency.
- Collect interest on the disputed charge during its investigation.
- Make you pay the disputed charge while they examine the problem.
Pay the other charges that are not in dispute
While the credit card company investigates your dispute, you are still responsible for promptly paying all non-disputed charges. However, you do not have to pay commission, collection, finance, or other fees associated with the transaction under investigation.
Confirm that the credit company fixed the errors
Once you signal an error on your bill, the credit card company has 30 days to inform you that it received your letter. It takes another two billing cycles to finish examining your dispute. You can see the disputed charge on your bill during this time. If so, you should also see a note saying you do not have to pay the amount until the investigation ends.
If the issuer of the card decides that all or part of the charge is correct, it must inform you:
- Why you owe the money
- The amount you owe
- When you have to pay the amount owed to avoid finance or other charges
The dispute address may differ from the address to which you send your payments. Be sure to include:
- Your name
- Address
- Account number
- A clear explanation of what you think is wrong and why
Send your written notification no later than 60 days after the company sends the statement where the error first appeared. Keep a copy of your letter as proof that you wrote to the credit card company.
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