Disputing Credit Card Transactions

When a customer makes a dispute about a previous credit card transaction they are protected in three different ways. One is the protection of unauthorized use, the second thing is that it deals with the bill error procedures and it also gives you the right to hold on to the payment. When you file a dispute about differences on your credit report the lenders follow all the protocols that are involved with that particular procedure.

Generally, these protection methods cannot stop you from paying over money once it is required or if you are held liable for paying it. Moreover, in any particular case the law will tell you exactly how much you are to pay at the end of the day if you are found liable. The protection against unauthorized use is one that is getting very common as most people tend to pay their bills using a credit card and also make use of the resources provided online.

This particular threat is much the same like situations where someone has stole your credit card number, while used without your consent and also if it is borrowed. Normally, in this case if you can prove that your credit card was stolen or used without your consent then you are only liable for fifty dollars. Oftentimes some the credit card companies will just drop that claim. Another thing to be mindful of is that when a unauthorized claim has been reported you might be liable to pay the claims or the company may investigate the claim first.


Credit – Users of Reports

Users are individuals, businesses, agencies, or institutions that request consumer credit files from credit reporting agencies to determine creditworthiness, among other things. Under the FCRA, they can utilize credit report information to determine creditworthiness or in consideration of employment and certain types of insurance. (Life insurance underwriting policies can consider credit history, whereas medical insurance […]

A Guide to the Latest Credit Card Reforms

The Credit Card Reform Act of 2008 was passed on December 18th, but it isn’t expected to take effect until includes the following provisions: Interest Rates Credit card issuers will be prohibited from raising the interest rate on existing balances. They will also be prohibited from raising their interest rate under the premise of “universal […]