Sooner or later, we’ll likely all run into a dispute with a credit card company. In fact, it may have already happened. This could look like mysterious charges, double-billing, or a mail-order item that never arrived. With a little patience and an understanding of your rights, these frustrating problems can be corrected. Our short term loan lenders want to bring two key credit card protections to your attention.
Unauthorized Card Use
If someone steals, borrows, or uses your credit card without your permission, one of the most important credit card protections to be aware of is the one that shields you of this liability. Under this law, your liability for unauthorized use of your card is limited to $50, no matter how much the thief has charged.
Billing Error Disputes
If you’ve ever been overcharged, or charged for products you never received, this second type of credit card protection applies to you. The Fair Credit Billing Act mandates lenders to follow a specific “billing error” course of action to resolve a dispute. In order to raise a dispute, you must send a written notice to your credit card company within 60 days of the first bill with incorrect charges. You can find the information that must be included and where to send your dispute on the back of your credit card statement.
In most cases, a credit card dispute will be resolved after you contact your credit card company. If this doesn’t work, there are additional steps you can take. If you feel there’s an error on your credit card bill and can’t find the money to make your payments, contact our short term loan lenders to learn more about your loan options today.
