If you pay by credit or charge card online, your transaction will be protected by the Fair Credit Billing Act. If get billed for merchandise you returned or never received, or your credit card company charged you twice for the same item or failed to credit a payment to your account, mistakes can be corrected and people can dispute settlement procedures provided by the Fair Credit Billing Act (FCBA).
Any charges on your bill that you want explained or you don't recognize can be treated as a "billing error" under the Fair Credit Billing Act.
What to do if you finding a billing error about your purchases?
There are three main rules to follow:
1. Put it in writing : write a letter to the credit card company about any errors you find on your card bill.
What happens if you do not write a letter?simply you will not be protected under this law.
2. Make your written complaint within the 60-day deadline.
3. According to the law, your dispute letter must include your name, address, account number and a description of the problem.
You can read more about this act at http://www.bankrate.com/brm/news/cc/20031111a1.asp and http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre16.shtm
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Thank you for posting this! I am having an issue with a product that I bought online. I didn't know that there was an act that protected consumers when doing online transactions. This information is very useful for everyone these days. Online sales are increasing greatly across the different industries. Therefore consumers should be well informed of all the aspects that are involved in using credit cards for buying things online. Having laws like this one makes me feel safe about shopping online!
ReplyDeleteI always check my credit card, debit card and other cards transactions. Every month I pay Experian Company to monitor my credit card and protect my identity. However, a few years ago I had an incident with Macy’s regarding my card. I received a bill from Macy’s that I owe them over $500, immediately I called the corporation and I told them I did not buy anything form Macy’s in past few months. Then they checked my signature and the other shopper’s signature that used my account, and they saw it was different. In addition, I was living in San Francisco Bay Area at that time, and the theft shopped in another state, and Macy’s checked the evidence and they realized I never had any problem with Macy’s before and that I was a good customer in the past few years. Finally, they fixed my account and I did not have to pay. We always have to check our transactions and balance of our different accounts.
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