We hear about credit card billing problems of others or we our self might have faced such problem, where either there are some extra charges included by credit card company or charged for something we have not purchased. This is a usual problem we hear about from someone or other. Do we know what our credit card rights are? May be very few of us know what the rights are. It's very important to know your credit card right to avoid such billing problems.
Check your credit card right here:
When you make a payment, the credit card company must credit your account within 24 hours. If it doesn't happen, then credit card issuer cannot charge your account with additional finance charges. Many credit card companies were caught for violating this rule and charging extra from their customer. Make sure to get familiar with the payment procedures.
If you make overpayment for your credit card bill, you've a right to get the credit on your account. The over paid amount will get added to your credit limit. You may also ask for refund by a written request. The refund must be issued with in seven days by Credit Card Company.
If you lost your card or it's stolen, you must report it immediately. Card holder is not liable for any charges after the lost or stolen has been reported. And if there are any fraudulent charges in your bill, you only have to $50. That is the most you have to pay in such case. So the best way to avoid this is to report a lost of card or stolen of card as soon as you discover it missing.
If you find any error in billing statement, you can file a written complain within 60 days. An investigation must be done within two billing cycle and not more than 9
0 days of receiving the complain.
Whenever a credit card company makes any changes in the term agreement, they must inform you this through a written notice. And if you are not comfortable with the changes, you may reject the offer by following the instructions provided with the notice.
Being a consumer you have both obligations and rights while dealing with credit card companies, as it's controlled by both state and federal law.
When you make a payment, the credit card company must credit your account within 24 hours. If it doesn't happen, then credit card issuer cannot charge your account with additional finance charges. Many credit card companies were caught for violating this rule and charging extra from their customer. Make sure to get familiar with the payment procedures.
If you make overpayment for your credit card bill, you've a right to get the credit on your account. The over paid amount will get added to your credit limit. You may also ask for refund by a written request. The refund must be issued with in seven days by Credit Card Company.
If you lost your card or it's stolen, you must report it immediately. Card holder is not liable for any charges after the lost or stolen has been reported. And if there are any fraudulent charges in your bill, you only have to $50. That is the most you have to pay in such case. So the best way to avoid this is to report a lost of card or stolen of card as soon as you discover it missing.
If you find any error in billing statement, you can file a written complain within 60 days. An investigation must be done within two billing cycle and not more than 9
0 days of receiving the complain.Whenever a credit card company makes any changes in the term agreement, they must inform you this through a written notice. And if you are not comfortable with the changes, you may reject the offer by following the instructions provided with the notice.
Being a consumer you have both obligations and rights while dealing with credit card companies, as it's controlled by both state and federal law.
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