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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 www.occ.treas.gov/customer.htm and
phone number is 800-613-6743.
This article is the property of
www.bestcreditcardsonline.com,
which has been offering credit cards services since 2002.
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