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The Advantages of Credit Cards
There are many evils associated with credit cards, but there
are benefits that are hard to ignore. One benefit is having the
credit card company act in your behalf to recover funds from a
disputed transaction. Under the Fair Credit Billing Act the
credit card company has to investigate the dispute and either
take the charge off your bill or explain why it is correct. Even
better, you don't have to pay the portion of the credit-card bill
or related interest charges while the dispute is being
investigated.
The types of blling disputes/errors covered by the Fair Credit
Billing Act are:
- Charges that list the wrong date or amount.
- Charges for goods and services you didn't accept or weren't
delivered as agreed.
- Math errors.
- Failure to post payments and other credits, such as
returns.
- Unauthorized charges.
Before you dispute any of issues you must first contact the
retailer and try to settle the dispute. If they ignore you, or
the dispute is not settled then contact the credit card company.
Usually you need to have your dispute in writing to the credit
card company. The address for billing disputes is different then
the address to send payments. The billing dispute address can be
found on the back of your monthly statement. If it cannot be
found, call the credit card company's customer service for the
billing dispute address. You usually only have a certain number
of days to dispute the billing error so make sure you mail in
your dispute before the deadline.
If contacting the credit card company doesn't resolve the
dispute, you may contact the Office of the Comptroller of the
Currency's Customer Assistance Group. Their website is http://www.occ.treas.gov/customer.htm
and phone number is 800-613-6743.
About The Author
Christine Breen is the owner of 1stop-creditcards.com a site helping consumers find a
better credit card.
kokopoko2000@yahoo.com
MORE RESOURCES:
Credit - Google News
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