--------------------------------------------------------------- Summary Believe it or not
credit card companies make mistakes too, and
just like we discussed about fixing errors
on your credit report you should take a proactive
approach to your credit card.
Examples
of Common Credit Card Errors These
are some common examples of credit card errors
you should watch out for. The Federal Fair
Credit Billing Act covers billing errors and
does provide you an avenue to contest them.
Charges for items you
didn't purchase
Charge for an amount
that is different from the actual amount
you charged (receipts are very helpful here)
Charge for something
that you did not accept when it was delivered (possibly because of defect)
Charge for something
that was not delivered as according to an
agreement/contract
Calculation errors on
your statement
Payments not credited
to your account
Charge by someone
who does not have permission to use your
credit card
Steps
to Contest Credit Card Errors When
you believe you've found a credit card error,
here are some general steps to help contest
them with your credit card lender.
1) Write to the credit
card company within 60 days of the statement
date on the bill containing the error. On your
statement you should find an address listed
for “billing inquiries." In your
letter to the credit card include:
Your full legal name
Your credit card account number (or last
4 digits if you want to be safe of identity
theft)
Description of what you believe is an error
and why
The date of both the statement and the
specific error in question
The dollar amount of the error (i.e. the
disputed amount).
2) You do not have to pay the “disputed
amount” or any minimum payments or finance
charges that apply to it, but do ensure to
pay all the other
parts of the bill.
Results
of the Dispute
If there is an error, you will not have to
pay any finance charges on the disputed amount.
Your account must be corrected.
If there is no error,
the credit card company must send you an explanation
and a statement of the amount you owe. The
amount will include any finance charges or
other charges that accumulated while you were
questioning the bill.
In
Brief
There are several types
of credit card fees
You should know the
various types of credit card fees to be more knowledgeable
