If a charge on your credit card statement is incorrect, you are legally entitled to dispute it and force the credit card company to investigate. This is known as the Fair Credit Billing Act (FCBA). The FCBA was passed into law in 1974 by Congress. The act requires that credit card companies must provide a way for consumers to fight inaccurate or erroneous charges made with their credit cards. It also ensures that consumers can withhold payment on those charges until the dispute is resolved. Here’s all you need to know about disputing a charge on your credit card statement:
Your Rights under the Fair Credit Billing Act
You have the right to dispute a charge on your credit card under the Fair Credit Billing Act (FCBA) if you think someone has made an unauthorized charge or you don’t recognize the charge. The FCBA applies to all credit card issuers and all types of credit cards, including store cards, department store cards, travel reward cards and gas station discount cards. The FCBA also applies when you’re billed for something that doesn’t match what was sold or delivered to you.
For example: You buy groceries at the supermarket with your debit card because it’s cheaper than paying cash for them; then two days later find out that someone charged $100 worth of clothes from JCPenney on your debit account without your permission. It could be possible that this happened because there are no limits on how much money can be withdrawn from any checking account using a debit card (the only limit is usually $500), so even though they didn’t give us any merchandise they were able to make off with our hard earned cash! This is why it’s important not only our security but also our rights under federal law like those outlined by Title XIX of UCC Article 4 Section 4-204 which states “If goods are returned within ten days after delivery there shall no restocking fee except as otherwise agreed upon between seller & buyer prior delivery date in writing.”
The 2-Day Rule
If you’re wondering how long you can dispute a credit card charge, know that there are two main deadlines to be aware of. The first is the 2-day rule. This rule states that if you notice fraudulent activity on your statement within two days of receiving it, then you have until midnight of the third day after receiving the statement (meaning within three days) to dispute the charge with your bank or credit card company. The second deadline comes from the Fair Credit Billing Act (FCBA), which states that customers must dispute any questionable charges within 60 days from either when they were first charged on their account or from when they made their last payment—whichever comes later.
The latter part may seem confusing at first glance, but it actually makes sense: When we say “60 days after making your last payment” what we really mean is 60 days after any instance where a transaction was processed against an account balance due less than 60 days prior. So if someone uses a stolen credit card number and makes several purchases over a period of months before being caught by authorities, then each individual purchase would be considered as having been made in full compliance with this particular section of law because its corresponding payment went through long enough ago so as not to fall under its jurisdiction anymore!
What You Need to Dispute a Charge
To dispute a charge, you’ll need to provide the following information:
- Merchant name. This is the name of the business where you made your purchase. It will be on your credit card bill or statement as “Merchant Name.” You can find it on invoices and receipts from businesses or online orders in their fine print. The merchant’s name may also appear in your email receipt when paying by PayPal.
- Date of purchase (month/day/year). The date of purchase is usually written on the front of your bank statement or credit card bill as Month/Day/Year purchased, so make sure that this is accurate before submitting your dispute online through your bank’s website or by calling them directly at 888-328-8017. Dispute any charges that don’t fall within this time frame—you may have been hacked!
Disputing a Fraudulent Charge
If you find yourself the victim of a credit card fraud and wish to dispute the charge, you are entitled to do so within 60 days of being notified that a fraudulent transaction has taken place. In order to file a dispute, you must provide the credit card company with:
- Your name
- The cardholder’s name (if different than yours)
- A description of what happened
- Why it wasn’t your fault
Disputing a Charge for Damaged Merchandise or Services that are not Rendered
If you receive damaged merchandise or services that were not rendered, it’s best to contact the merchant immediately to discuss a refund. If you are still not satisfied with your experience, you can dispute the charge with your credit card company.
Your credit card provider will investigate the claim and reach out to both parties involved in an effort to resolve any issues between them. You may be able to get a full or partial refund if they determine that there was an error on their part that led to this transaction being charged against your account.
Preparing to Dispute a Charge
Before you call the credit card company to dispute a charge, you should have all of the necessary documentation on hand. You will need proof that you actually made the purchase, as well as proof of your identity. If possible, having a receipt or credit card statement from when the transaction occurred will help get it resolved quickly.
It’s also good practice to keep track of any information related to your interactions with banks and other financial institutions; this includes contracts and agreements between yourself and those institutions so that if there is ever an issue like this one, you’ll be able to reference these documents easily.
If everything goes smoothly during this process (which probably won’t happen), then all parties involved win: The bank sees its mistake quickly addressed and corrected without much delay; customers don’t have their money tied up unnecessarily; businesses avoid losing money due to fraudulent transactions; etc…
Letter to Dispute Credit Card Charges for an Unauthorized Purchase
Writing a letter to dispute credit card charges.
When you find an unauthorized charge on your credit card statement, the first step is to write a letter to the fraud department of the credit card company that issued your account. Include all of the following information:
- Your name and address (including zip code).
- The name of your bank or credit union. If there is no specific address for this information, contact them directly by phone or email.
- Your credit card number and the amount of the charge being disputed. If there are multiple charges billed as one transaction, it will be helpful if you provide an itemized list showing each individual charge separately so they can sort out which ones were actually yours instead of just lumping everything together into one large charge without distinguishing between different purchases made with your card at various vendors’ businesses or online stores like Amazon where items purchased cannot always be easily distinguished from each other when viewed together as part of one single transaction listing in electronic format (e-mail) receipts sent after purchasing online purchases using plastic cards issued by banks/credit unions rather than using cash or checks).
Sample Letter for an Unwanted Purchase/Wrong Amount Charged/Wrong Product Shipped
Dear [Credit Card Company Name],
I am writing to dispute a charge made on my account. On [Date of Transaction], I placed an order with [Merchant Name] for the purchase of [Product or Service].
The total amount charged was $[Amount Charged]. This transaction is not authorized, and I would like all charges removed from my credit card statement. Please contact me at [Your Address] as soon as possible so we can resolve this issue.
Sample Letter for an Unauthorized Transaction by a Third Party
Dear Sir or Madam,
This is to inform you that there has been a transaction on my credit card that I did not authorize. On (date), [amount], was charged to my account by [merchant]. The person who made this purchase is [name of person who made the transaction]. The person who authorized the transaction was [name of person who authorized the transaction].
I request that this charge be reversed and deducted from my account. If you have any questions about this matter, please contact me at[phone number]. Thank you for your time and attention in resolving this issue,
Learn your rights when it comes to disputing credit card charges.
You can dispute a credit card charge online, by phone or in writing at www.consumerfinance.gov/complaint/. If you write a letter detailing your dispute, include your name and account number on the letter and mail it to:
If you have evidence of fraudulent activity on your credit card account, such as an unauthorized purchase or cash withdrawal from an ATM machine in another country, call the card issuer immediately at 1-866-902-8374 so they can cancel the card and issue a new one with different numbers (the account will still be under the same name).
The Fair Credit Billing Act gives consumers certain rights when it comes to billing errors and disputes. Under this law:
- You are not responsible for paying for unauthorized charges made on your account if you report them within 60 days of receiving your bill;
- If a merchant refuses to refund money after charging more than expected, you may withhold payment on any other outstanding balance until all disputes are resolved; * For damaged merchandise or services that were not rendered fully as promised – such as false advertising – there is no time limit for filing complaints about those issues.
Remember, your information is secure, and the damage from a stolen card doesn’t have to be permanent. There are plenty of legal protections in place for consumers who dispute charges on their credit cards. If you have any questions about disputing credit card charges or fraud alerts on your account, feel free to contact your financial institution directly or visit their website for more information on how they can help you.