Errors on credit card billing statements can lead to big problems with your credit and credit scores. Credit card billing statement errors can also lead to potentially serious identity theft issues if you do not address these problems immediately upon your discovery of them.
Give Credit Card Company Written Notice Of Dispute
If you have an error on your credit card bill, immediately call your credit card company to notify them of the error. This will help protect you against paying unjust fees, penalties, interest and other charges. Then immediately send a letter to your credit card company. Do not write a note on the bill and sent it back to them. It won’t get looked at as most credit card bill processing systems are automated.
Credit Card Company Has Time To Investigate And Respond
The credit card company must be given notification in writing within 60 days of you receiving the original bill. Be sure to give your account number, your name and the reason why you believe there is an error. You will also need to enclose receipts and supporting documentation to show why there is an error and what the correct charges should be. Send only copies of any documentation; keep your originals for safekeeping.
How Long Does A Credit Card Company Have To Get Back To You About An Error?
The credit card company must acknowledge receiving your letter within 30 days. The credit card issuer must correct the error or explain why it believes the amount to be correct within 60 days. If your bank has issued the credit card and you have authorized auto draft payments for your bank account, the bank cannot deduct the disputed amount or the related finance charge from your account. While the dispute is under investigation you can only change the payment if you give notice at least 3 business days prior to the auto draft date.
Dispute Filing Information On Back Of Statement
Read the back of your statement to find out where to send disputes. If you cannot find it just be sure to call the customer service number for it. You may even want to sent the dispute via certified mail so that you get a time stamped signature indicating when and that the credit card company got your dispute letter.
Do I Have To Pay The Disputed Amount On My Credit Card Bill?
You are allowed to withhold the amount of the credit card dispute. This would also include that finance charges as well. You will be required to pay the undisputed portion of your bill however so don’t stop paying your bill while your dispute is in progress. This will kill your credit.
What Is A Bill Error?
Most consumers think that a billing error is just a mistake in the amount that you owe. But errors also include;
- Charges that were reversed when merchandise or services were returned.
- Someone who used your credit card without your authorization – ID Theft.
- An extension of credit for services or merchandise that were never received.
- A company or business did not credit back a purchase that was cancelled by you.
Sample Dispute Letter For A Credit Card
Copy and paste into a word processing document and complete your personal information as necessary. Then print the page, check it for errors, sign it, make a copy of it and send it. Don't forget to send it certified, enclose only copies of documentation that you send to support your dispute.
- Date: ______________
(Your Name)
(Your Home Address)
Attn: Customer Service
Name(s) on the account: ____________________
Account #: _______________________
To Whom It May Concern:
I am writing to point out the billing error that appears on my statement dated ____________.
Merchant's name: ______________________
Amount in error: ______________________
I am not paying this amount.
My complaint is as follows:
_________________________________________________________________________
_________________________________________________________________________
I understand that the law requires you to acknowledge receipt of this document within 30 days unless you have corrected this billing error before then. Furthermore, I am aware that within two billing cycles (but in no event more than 90 days), you must correct the error or explain why you believe the amount to be valid.
Regards,
________________________________________
Signature
Name(s): ____________________
Address: ____________________
____________________
Home phone#: ____________________
Email address: ____________________
The only person who will look out for you is you. Information like this is important if you plan on being an informed consumer. If you are feeling that your rights as a consumer have been compromised you do not have to take it. Do your research and fight back. If you have to contact the FTC or your state's Attorney General. You work hard for your money and your credit. There is no sense in just letting it go.
