Credit Cards - Know Your Rights

Fair credit billing act guarantees rights, these rights apply to items like unauthorized charges, disputes and help to protect customers and their financial well being.

Disputing billing charges: If a merchant overcharges the card holder, if he/ she receives damaged commodities, then they have the right to dispute the billing charge. When he receives the statement filing the disputed charge, he contacts the issuer of the credit card within 60 days of the date. He should send the mail including details like name of card holder and account number and detailed catalog of the specific charge. Card holder should keep a photocopy of letter in records in safe side. He should be assured that the mail has been delivered properly. Credit card company has 30 days to analyze the dispute after receiving of his mail.

Limited liability with unauthorized charges: If unauthorized charges are observed by cardholder on his credit card then immediately he can inform credit card company. And he should be sure about contacting the credit bureaus immediately. Make them know of the condition and observe if any new accounts had been opened in cardholders name.