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Credit cards have gotten a bad name for themselves in recent times, yet its not the card, or even the principle that causes problems. Its the fact that most people simply cannot help themselves when it comes to temptation of spending on them. Why? Because its just so easy! It doesnt feel quite so bad handing over a piece of plastic which then gets handed back to you, than it does handing over your hard earned cash... which doesnt get handed back. Its all in the mind, but its easy to see why people can get so deep into debt using credit cards.
However, despite their huge debt temptation, there are many benefits which are clearly hard to ignore. The largest benefit is the fact that everything you purchase using your card, is covered. The credit card company will act on your behalf, should you have any discrepancies with a transaction. Under the Fair Credit Billing Act, the card company themselves have to look at the problem and investigate it fully. In the meantime, they have to take the cost of the transaction off your bill until they can explain why the charges just dont add up. If they cant explain... then you dont have to pay it.
The Fair Credit Billing act covers the following transaction errors or disputes:
Prior to you disputing any of these issues with the card company, you need to have contacted the retailer and tried to settle the dispute in an amicable way. If they choose to ignore you or the dispute is not satisfactorily resolved, then you need to contact your credit card company. They will usually ask you to send them your dispute in writing before they will act. Typically you are given a certain amount of days after which the dispute arose, to actually make the complaint, so ensure you send all letters off to the credit card promptly so as to make the deadline for the dispute date to be filed and acknowledged.
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Credit Card Advice