You have 60 days to dispute a credit card charge, per the Fair Credit Billing Act of 1974. The 60 days starts from the day the statement containing the erroneous charge was mailed to you or made available online (if you’re enrolled in paperless billing). So waiting for a paper statement to arrive in the mail could cost you at least a few of those 60 days,whereas you can examine your statement online right away. You can typically start the dispute process online or by giving the card’s issuer a call. The issuer must acknowledge your dispute within 30 days of receiving it and resolve the matter within 90.
Here’s how long you have to dispute a credit card charge:
You have 60 days from when the relevant monthly statement was sent. That’s the postmark date for paper statements or the sent date for an email statement.
The issuer must send a written acknowledgement within 30 days of receiving your dispute. They must evaluate your claim and contact you with their decision within 90 days of receiving the dispute. If they agree with you, you’ll get a refund. Otherwise, you’ll still have to pay for the charge.
The credit card’s issuer may ask you to submit your dispute in writing, along with proof that the charge is incorrect, like receipts or a police report.
Because of the limited time to dispute, you should always go over your statements right after you receive them. Make sure there’s no charges you didn’t make, no wrong amounts, no inflated tips, and no items that arrived damaged that were not refunded.
If you review your monthly statement online, you may see a button to dispute charges. Otherwise, call the number on the back of your card to reach the issuer’s customer service and explain the situation.
While 60 days usually is plenty of time to dispute a credit card charge, it’s always a good idea to be proactive. Waiting too long might mean having to pay more than you really owe.
To cancel a credit card transaction, contact either the merchant on the other side of the transaction or the credit card company. Which you should contact first depends on whether or not you think the transaction is fraudulent.
When You Think the Transaction Is Fraudulent:
If you want to cancel a credit card transaction because you think it is fraudulent, the first thing you should do is search online for the name of the biller, as listed on your credit card account. Sometimes, legitimate transactions can lead to false alarms simply because a biller’s corporate name isn’t as recognizable as the brand name a consumer really does intend to pay. If that clears things up in your case, great – crisis averted.… read full answer
However, if you still don’t recognize the details, you should definitely call your credit card’s issuer (the number is listed on the back of your card) to inform them about the unauthorized transaction. Even if the issuer can’t cancel the transaction before it goes through initially, you will not be on the hook for any fraudulent purchases made with your credit card account. All credit cards give users a $0 fraud liability guarantee.
When You Just Want to Cancel the Transaction:
If you know that a credit card transaction is legitimate, but you want to cancel it because you changed your mind or made the purchase by mistake (or any other reason), take your request directly to the merchant the transaction is with. The credit card company won’t be able to do much about a legitimately authorized credit card transaction. They might be able to instruct you on how to cancel future transactions if the card is being used for a subscription or other recurring purchase, but that’s about it.
Your chances of being able to cancel a credit card transaction made online figure to be especially good. Check the merchant's cancellation policy. Some provide a small window in which you can cancel a pending transaction. Just bear in mind that in this situation, an order may show as canceled before the transaction reversal posts to your credit card account.
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