Dispute resolution in case of a credit dispute can be achieved with a short letter or a quick phone call. Or, maybe you will have to wait for long for the solution. It actually depends on the type and effects of the credit card dispute. Small credit card disputes such as a billing error can be resolved easily in a short span of time. However, in disputes like credit card fraud oar theft, you will need to work with a professional because these disputes will be handled differently.
Disputes in your credit file will affect your credit score. However,don’t be afraid of filing a dispute. Following seven tips will help you infilling successful credit card disputes.
In case the charges are due to fraud ortheft
In case the dispute is because of an unauthorized usage of the credit card,laws will hold you liable for the first $50 in unauthorized payments. The majority of credit card issuers limit your liability to zero dollars on one condition, you will have to report the unauthorized charges immediately after you discover them. Call the credit card company and request to cancel your cardie you suspect that your credit card is hijacked. Apart from filing a police report, file an affidavit with the Federal Trade Commission.
In case it is a store error
Retailers sometimes by mistake double-bill you. Or, they might accidentally charge the wrong amount. According to the laws, you have 60 days to notify the card issuer about this billing error. This 60 days billing error starts from the day you discover the billing error. Notify the merchant and if the merchants not resolving your issue, contact the credit card company within this span of 60 days.
Contact your credit card issuer
Whether the unauthorized charges are due to a fraud or it is a billing mistake,write to the credit card provider. If you have reported a billing mistake to the merchant and the merchant is showing no interest in resolving your dispute,summarize your dispute resolution attempts while writing to the credit card issuer. Also, include if you have any proof to show that it was an unauthorized eduction. However, the proof is not mandatory. It is mandatory for the credit card issuer to acknowledge the dispute within 30 days.
Be aware of your rights and responsibilities
It is the credit card issuer’s job to investigate and reach you within 90 days or two billing cycles. You are not liable to pay disputed charges. However, you will pay undisputed charges. The issuer has no right to charge interest on the disputed payments and the issuer is not allowed to report you to the credit bureaus for late payments. However, according to the Federal Trade Commission,the credit card company can deduct the disputed amount from your account in some cases.
After you win the credit card dispute, charges will be cancelled and so will be the interest on the disputed amount.
Keep calm and be persistent
When you are talking to the merchant or a representative of the credit card issuer over the phone, do not raise your voice. Be polite even when the merchant or the credit card issuer’s representative is not being polite. Do the same while writing letters. Be persistent if your claim is a legitimate claim.File dispute again if your claim is rejected in the beginning.
You still have an option
Even when the window is expired, you have one year to cite claims and defenses.However, do not pay the disputed amount. Simply write a letter to the merchant to correct the mistake. Include an evidence to prove your argument.
After asserting “claims and defenses”, if the merchant is still refusing to budge, call the credit card issuer. Write a letter to inform the card issuer about the dispute, attempts you have made to resolve the dispute and how the merchant has handled your claims.
Resolve credit card disputes as soon as possible as disputes in the credit history affect your credit score.Professionals offering credit card debt consolidation services can also help you in filing and resolving credit card disputes.